The Case Study Of Compensation Management Of MY Company

With the in-depth development of the market economy, private enterprises have been in a pivotal position in the national economy. But on the average size, the vast majority of private enterprises are also Small to Medium Enterprises. Although the development of Small to Medium Enterprises is rapid, but many have always been plagued by human resources management problems: it is hard to recruit, not only the number of candidates is less, but also generally lower quality; employment difficulties, lack of enthusiasm; serious brain drain. Analysis of the causes for the above-mentioned problems, mainly due to mismanagement of compensation, therefore, compensation management of Small to Medium Enterprises has become a significant issue.China's furniture industry used to be less export volume and product shortages, but now China becomes the largest exporter after 20 years. January 2007 to October, export volume of China's furniture products were 1.877 billion, 39.02% year-on-year decline, and exports amounted to 18.553 billion US dollars, 33.20% year-on-year increase, and the average unit price 9.88 US dollars / pieces increase 118.58% than the same period last year (4.52 US dollars / pieces). National furniture enterprises above-scale (annual output value more than 5 million Yuan) completed value about 180 billion Yuan. Although the broad prospects for the furniture industry, but the research about management on the furniture industry is scanty.MY Company is a private enterprise. Its professional production is wooden door. The compensation system of MY Company was studied by use of literature and case in the paper. In the case, the first part is lively and informative description of MY Company management problems, then the modern theory of human resource management was applied on MY Company's compensation system for the original diagnosis, the last part is the redesign of compensation system of MY Company. The paper's objective is to solve the difficulty attracting talented people, the staff lack of enthusiasm, issues such as a serious outflow of talents, and expect to provide useful empirical explorations for application of compensation theory on the Small to Medium Enterprises, especially on furniture manufacturing enterprise.