The Salary System Optimal Design On NF Corporation

In the knowledge-based economy age with human resource and knowledge capital at the core, the human capital has become a key factor to the success of the enterprise. The salary design and management has become the core of enterprise human resource management strategies. Therefore, design and management of salary in the new era is no longer the simple process of salary payment or salary increase, but starting from the new salary management concept, by using of the new methods and techniques of salary governing, salary can be an effective tool to meet the needs of staff, attract talents tarry talents to build the core competitiveness of enterprises and achieve the goals that enterprises and employees can develop at the same time. How to redesign and formulate a salary scheme that complies with the development of market economy, how to acquire the advantage in the increasingly hot competition for talents, and meeting the needs of the enterprise’s strategy and development are important tasks that face enterprises especially the state-owned enterprises. After entering the WTO, the road and bridge construction companies of China has become more and more international, the market competition is becoming increasingly fierce, it requires enterprises to design and improve a strong incentive pay system through the human resources strategy, so as to attract talent to mobilize the enthusiasm of the personnel, inject vitality into the development of enterprises.NF is a large state-owned road and bridge engineering firm, which has been committed to providing transport infrastructure construction and management services. However, the company is still using the traditional post skill salary system, in which the elements of salary are complicated. Executive positions, qualifications and seniority are the decisive elements of different levels salary. This kind of salary systems exists many kinds of problems such as external unfair, the channel of staff development is narrow and lack of effective incentives, which can’t be able to meet the needs of corporate strategy and business development, resulting in the company’s continual loss. In this article, we’ll take NF company as an example. With regard to the problems in pay and performance system, we use the modern salary management development theory and technology, which combine with the salary satisfaction surveys to explore and establish a pay and performance appraisal system, which is consistent with the company and market economic system. In the process of designing the salary system, we insist with the principles of internal equity, external competitiveness, motivation, legality and economy, establish a salary system based on the job grades by analyzing the work and evaluating the positions.Finally, To the remuneration system of the redesign of NF, the paper established a set of complete measures of remuneration system, these measures included four aspects:the establishment of an effective performance system evaluation system, focusing on communication and publicity to increase the transparency of the remuneration of management, and constantly improve the performance appraisal system.By this study, I expect that status and the problems of NF compensation Remuneration management are knew and understood, and improve NF company’ remuneration management system to enhance the competitiveness of the NF in road and bridge construction unit and sustainable development capacity. At the same time, this study also hopes on China’s road and bridge construction unit of the pay system design to provide some experience for reference.