Unit-1 Introduction Concept & Elements.

Types of compensation-
Base & Supplementary compensation.

Unit-2 Compensation at Macro level Introduction to labor market,

Wage policy, legal framework, Wage Determination.

Unit-3 Compensation at Micro level Compensation Strategy at

company level, concept of internal equity & external parity, job
evaluation.

Rewards are monetary, non-monetary and psychological

payments an organization provides its employees in exchange for
the work they perform.

Rewards – Compensation Rewards (Extrinsic) and Non

Compensation Rewards (Intrinsic)

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