Homework: Rewards and Benefits Management in India
You will determine the salary and reward methods as well as how the employee's benefits will be determined. There are advantages and disadvantages to having a benefits package that is fixed versus having one in which the employee can select the desired benefits within an approved dollar amount. (An umbrella program such as this is referred to as a "flexible bundle." For example, a young employee may want more vacation days but not wish to have life insurance. A flexible bundle allows for this.)
For this homework, you will propose a compensation structure. Your compensation structure must
A. Explain the rewards and type of benefits package to be supplied for the India employees.
a. Construct a total rewards model for hedging diversity as a resource for organizational competitiveness.
b. Assess whether a fixed benefits package or a flexible bundle (in which the employee selects the benefits desired) would best fit these employees.
c. Provide a rationale for your decision.
B. Explain whether the compensation will consist of hourly, salary, or contingent base selection.
C. Explain how the elements of your compensation structure compare to the competition in India (consider such tools as benchmarking and positioning of the competition).
Format your homework according to the give formatting requirements:
a. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
b. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
c. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.