COMPENSATION AND BENEFIT MANAGEMENT

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The area of Compensation and Benefits belongs to the most specialised areas in Human Resources Management. Compensation and Benefits usually plays the role of the HR Controlling, setting the rules and procedures around the salaries, variable pay and benefits.

Compensation and Benefits is usually the function of HRM -- most connected with the competitors in the market -- and it sets the compensation policies which are fully competitive on the job market, but still meet the targets defined by the organisation.

This sub-profession introduces you to various compensation models and their application in organisations. You will acquire the ability to carry out compensation surveys and evolve an appropriate compensation structure for an organisation. You will also learn to develop salary structures, incentive packages and benchmark salaries.

You will focus on the areas of job evaluation, taxation aspects of compensation management, the entire payroll management process as well as international compensation structures. You will also acquire knowledge of legal compliances with respect to compensation and benefits.

Those who work in the area of employee benefits manage the company’s health plan, stock option plan, profit share plan, pension plan, insurance plan, life insurance, or any other benefits a company may offer its employees.

This work includes liaising between the organisation and the employees of the company. Employees need to be kept well-informed of their rights and options, and their concerns must be appropriately addressed.

Full Time Programmes

Post Graduate Level
Professional Programme in Business Management with specialisation in Human Resource

Undergraduate Level
(Integrated) Professional Programme in Business Management with specialisation in Human Resource.
Abilities                                                   Content
Compensation PolicyVarious components and rationale of Compensation Policy:
  • Internal/External Equity
  • Benefits
  • Incentives/ Performance based pay
  • Skill based pay
  • Competency based pay.
Salary SurveyBenchmarking of Compensation & Benefit with comparable companies and analyse the data (under the direction of a supervisor) and suggest corrective actions.
Salary FitmentDeveloping internal structure, pay levels and pay parities, define competitiveness, analyse discriminations and evolve compensation structure.
Linkages with Performance Management System and Job Evaluation System/ Competency FrameworkCorrelation of the salary structure with Performance Management System and Job Evaluation/ Competency Framework.
IncentivesMethods of incentivizing (rewarding) and or recognizing performance for Junior Management.
TaxationTax calculations for Junior management based on the Indian Taxation framework.
Payroll ManagementCompliance with legal requirements relating to salary for Junior Management.
Employer's Council Members
Mr. Ajay Devraj Senior Vice-President-Group Human Capital, Welspun Group
Mr. Anjan Bhowmik Manager HR-ITC
Mr. Asit Mohapatra Director HR-Textiles Raymond Ltd.
Mr. B.R. Ranju Head HR - BPL India
Mr. Barun Sen Director (C&B) - Microsoft
Mr. Bensely Zachariah DGM - HR, KPIT Cummins Global Business Solutions
Mr. C.B. Tiwari Chief People Officer - (Cement Business) Aditya Birla Group
Mr. C.V. Ramanan Chairman - NHRD - Corporate Interface and CEO of Ladders Consultancy Services
Ms. Cynthia D'souza Managing Director, Cynthesis Management Consultants
Mr. Harish Govind Vice-President Human Resources & Administration-Bluestar
Ms. Kumkum Nongrum Vice President and Head-Learning & Development, ABN AMRO Bank
Mr. Mahesh Kudtarkar Chief Manager-Reliance Digital Retail India.
Mr. Mahesh Maralinga Director and Regional Head of Talent Acquisition & Service Delivery - South Asia for Thomson Reuters
Mr. Niraj Barethiya Head HR, Hindustan CocaCola Pvt. Ltd
Mr. Nirmal Nair Senior Manager Human Resource-Tata Trent (Westside)
Mr. P.K Patro Head Human Resource-TCE Consulting Engineers Ltd.
Mr. Pandu Gowdra Director HR, Redknee Technologies
Mr. Prasanna Shankarappa Vice-President Corporate HR-Reliance Communications
Mr. S. Ramadoss Vice President HR - Titan Industries Limited
Mr. Sanjeev Somasundaram Executive VP & Global Head-Talent Acquisition Tesco HSC
Mr. Shantonu Dasmahapatra Vice President HR-Bombay Dyeing
Mr. Sriram Head Talent Acquisition - Samsung India Software
Ms. Sujaya Banerjee Chief Learning Officer, Essar Group
Mr. Sumeet Varghese Consultant & Project Partner, TVRLS & Academy of HRD
Mr. Tangaraj AVP-HR Thomas Cook
Ms. Tanuja Baljekar GM Learning & Development, Thermax Limited
Mr. V. Ravi Head Talent & Leadership Development, Voltas
Mr. Vinod Khisty Vice President -Human Resources-Siemens Information System Ltd.
Mr. Rajiv Gusain Head HR - North, Bajaj Allianz
Mr. Mayur Chaturvedi GM Talent Acquisition, Pepsi
Mr. Murtaza Attari Regional Manager HR (North) - Aviva Life Insurance Co. Ltd.
Mr. Swapan Kumar Nandy Director, Complete Human Resource Solutions
Mr. Partho P. Kar Member, Board of Governor IIM