The Optimal Design On Salary Scheme Of Qingdao Madison Froging & Casting Ind. Co.,LTD.

Nowadays market competitions among companies become more and more severe and will finally develop into competitions of talents. The human recourses department of a company has to face the problem of how to attract talents and how to make internal staff become more innovative as well as competitive. Salary management is the core content of human resources management and is vital to a company's development.This paper studied the salary theories and salary scheme's development of both home and abroad. It compared salary scheme of Qingdao Madison co ltd with that of other companies locating in the same area or belonging to the same industry and put forward basic principles of optimal design on salary scheme. Besides, this paper pointed out six applicable steps:salary strategy position directions,position evaluation,market salary investigation,salary framework,salary scheme implementation.According to the above principles and steps the salary scheme was optimally designed combined with the company's positions arrangement and distribution innovation. Every position was evaluated after its directions were edited. After evolutions and market salary investigation the salary level and structure were designed.As a consequence, the salary calculation model was determined.This paper will realize the following objectives:to improve the model of salary scheme and strengthen its innovations; to solve the problem of different salaries for same work and eliminate labor dispute; to make three career development channels for the staff; to implement equity interest encouragement and keep the core staff. Finally the core competitive strength will be improved by optimal design on salary scheme.