Bachelor of Management Studies (B.M.S.) SEM V 2022 2023 Dec 2023 S HUMAN RESOURCE FINANCE FOR HR PROFESSIONALS COMPESATION MANAGEMENT Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 Answer in brief: (any 2) 15 marks
   • 1. Explain the objectives of a compensation plan
   • 2. State the different types of Wage Differentials
   • 3. Describe the pre-requisites for an effective incentive system
2. Q2 Answer in brief: (any 2) 15 marks
   • 1. Explain and five compensation methods for special groups
   • 2. Explain Payment of Gratuity Act, 1972
   • 3. Write a note on Technology and Incentives
3. Q3 Answer in brief: (any 2) 15 marks
   • 1. Discuss the COBRA Requirements
   • 2. Describe 3 p’s of compensation
   • 3. Explain the features of Human Resource Accounting
4. Q4 Answer in brief: (any 2) 15 marks
   • 1. Explain Payment of Wages Act, 1936
   • 2. Write a note on HRCA
   • 3. Explain ‘Golden Parachute’
5. Q5 Case Study: AXES tech had previously designed a new retail compensation program that replaced their current step and grade volume based pay program with a market pay driven system. Their existing program placed employees significantly above market for base pay. Due to the current economic conditions in the retail sector, the company could no longer afford to compensate employees at such an aggressive rate and remain profitable. It was necessary to implement the system in conjunction with their fiscal year which required an aggressive project timeline
   • 1. Provide an assessment of the current compensation system. Design a compensation
   • 2. Develop a detailed compensation plan for implementation of the new compensation

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