problem 1: What are the fundamental components of a compensation and reward system? What innovations have organizations introduced in each of such components because of an increasingly competitive business environment?
problem 2: What do you mean by incentive pay? Differentiate between individual incentives team based incentives and organizational incentives?
problem 3: Under what circumstances is it appropriate to link individual payment to team performance?
What are the merits and demerits of team based rewards?
problem 4: ‘Recognition is the most reliable of all rewards’. Critically examine the statement. Identify two or three ways organizations generally use to recognize and reward employees via non financial means.
problem 5: Compare performance related pay, skill based pay and competency based pay. What steps should be followed in designing a competency based pay system? What steps must be followed in designing a competency based pay system?
problem 6: Do you think that compensation and reward strategy of a high technology firm will be different from that of an emerging fast growth firm? Why? Elaborate your answer giving exs from organizations you are familiar with.
problem 7: What do you mean by the term merit-pay? How is it distinct from Variable-pay? What are the major advantages and disadvantages of the given two forms of pay-for performance?
a) One-off bonus payment and
b) Salary increments linked to high performance?
Which of the two, in your opinion has a higher motivational value for an employee? Describe your answer with appropriate exs.