MMPH-7 2025-26 SOLVED ASSIGNMENT

Description

ASSIGNMENT
Course Code:MMPH-007
Course Title:Compensation and Rewards Management
Assignment Code:MMPH-007/TMA/JULY/2025/JAN/2026

Note: Attempt all the questions and submit this assignment to the Coordinator of your study centre. Last date of submission for July 2025 Semester is 31st October 2025and for January 2026 Semester is 30th April, 2026.

1. What are the public policy considerations in wage policies, state the practical difficulties, if any, in translating the lofty ideals into actions.
2. Delineate the major functions of the compensation programme. What is the overall objective of a compensation policy?
3. How minimum wage differs from need based minimum wage? What are the factors that are to be taken into account while fixing the minimum wage?
4. Write down the procedure of Job Evaluation. Explain the various methods of systems of Job Evaluation. Also write advantages and disadvantages of any two.
5. Why is VRS considered a soft option? How does it help overcome the legal hurdles in downsizing employee strength? Discuss how can a company go about VRS?