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Compensation Management

Compensation Management

First Edition
  • R. C. Sharma - Professor Emeritus, Founder Vice-Chancellor, Amity University Manesar, Gurgaon
  • Sulabh Sharma - Head of Scooter Model Line, (R&D) Centre of Innovation and Technology, Hero MotoCorp Limited
Additional resources:

December 2019 | 346 pages | SAGE Publications Pvt. Ltd

Compensation Management presents a comprehensive account of the intricacies related to compensation and reward management in Indian organizations—a vital strategic feature of HR management. The book covers fundamental concepts of the subject along with the approaches, tools, techniques and allied issues. Starting with conceptual framework, it discusses wage determination and wage fixation practices in India, salary reviews and reward management policies, and processes and procedures, in addition to international remuneration with special reference to expatriates and the remuneration of third country nationals. It blends theoretical concepts with real-life practices followed in the corporate sector, with a focus on Indian organizations. This book would be helpful to students of human resource management, business economics, public administration, social work and other allied fields. 

Key Features:

• Covers the role of art and science of compensation management in raising the competitive edge of organizations

• Focuses on recent policy developments, contemporary industry-wide changes and probable strategies for issues discussed

• Key pedagogical features, including contemporary case studies and activities

Conceptual Framework
Compensation Management
Divergent Systems and Institutions for Wage Determination in Practice in Indian Organizations
Contingent Pay: Pay for Performance, Competence, Skill—I
Contingent Pay: Pay for Performance, Competence, Skill—II
Administering and Controlling Salary Costs and Salary Review
Designing and Operating Fringe Benefits and Services, and Internal Audit of Compensation and Benefits
Designing and Operating Non-financial Benefits (Intrinsic and Relational Rewards)
Compensation and Reward Management Policy, Processes, Procedures and Some Other Issues
International Remuneration

Book has covered all concepts related to compensation. Theories, policies, strategy of compensation are covered appropriately. It throws light on Wage fixation policies applicable at India. Various problems associated with wage fixation along with legal framework, concept of broad banding are explained in lucid language. Performance appraisal methods, models which acts as a base for compensation are being covered properly. Various compensation schemes, team plans have been elaborated with suitable examples. Non monetary, monetary benefits, fringe, perquisite, recent legal amendments have also been covered. Book has also covered reward and remuneration offered at international level. This would give exposure to students to understand international trends.
One of the best features of the book is cases discussed, examples given for getting better clarity of the concept.
As this books is focusing on compensation management, suggestion is to incorporate compensation structure, CTC structure. Also, basic tax slabs, different types of allowances need to be added with appropriate examples show-casing how the CTC/ pay slip of an employee looks like. This will really add value.

Professor Rudresh Agaskar
Business Administration, Institute for Future Education,Entrepreneurship and Leadership
November 21, 2019

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ISBN: 9789353286286