Answer the following questions.
Question 1) Compensation Management plays a vital role in various aspects of HRM”. Explain in detail.
Question 2) Explain in detail how a sound incentive schemes can be framed and implemented in an organization.
Question 3) "A pay packet alone is not adequate to attract and retain competent employees." Describe the statement and explain the related concepts.
Question 4) Explain the incentive schemes for advertising company were employees are given target oriented task
Question 5) Why designing proper compensation is significant? Which strategy will you prefer For Designing compensation in the IT Company? Why? Explain the various variables affecting design of compensation policies
Question 6) You are a HR consultant to the small business with about 40 employees. At the present times the firm offers only five days of vacation, five paid holidays and legally mandated benefits like unemployment insurance payments. Write a list of other benefits you believe it must offer, along with your reasons for suggesting them.