The Research On Compensation Of Agricultural Bank Of China Branch Of Nh

Since the reform and opening up, the Chinese economy has continuously bloomed. The Banking industry, on the one hand, has become a catalyst of this invigorating growth. On the other hand, banks are the major beneficiaries of this economic development, with the China’s "big four" banks competing with each other in the Chinese financial market. China, as a result of joining the WTO, has caught the world’s eyes. Many multinationals and financial groups entered the Chinese financial market, while the small-to-medium banks in the local had completed the shareholding reforms and are gradually expanding. This resulted in unprecedented competitions for the state-owned commercial banks. Meanwhile, human capital has become the most competitive resource among corporations. In order to obtain competitive advantage, we must establish a powerful working team and direct a strategy of talent. The core of the strategy of talent is a well-fine salary management system, which to be frankly, promotes the success of a corporation. However, there are difficulties in establishing or improving the salary management system for the state-owned commercial banks due to many factors such as the rooted conventions and perceptions and the limited ability of managers regardless of experience of long standing in the industry. As an employee working in the Human Resource Department of the Agricultural Bank of China, which is a state-owned commercial bank, I wrote this essay to study and tidy up the theories of Salary Management from the past and the recent, and to combine the actual circumstances of the current salary management from the NH branch with the basic theory. In this essay, existing problems are looked up, and more comprehensive solutions are advised in order to assist the NH branch to implement the overall business strategy of’To build continuous leading, absolute leading and advanced leading’Any research should be carried out in a specific environment theory, this thesis is no exception. This paper comprehensively expounds the main theories of salary management and motivation of all times across the world, and the excellent experience of salary management from the foreign commercial banks in order to analyse the existing problems in the salary management of the HN branch and to advise comprehensive ideas. In this essay, I first outline the current structure of the salary management in the NH branch, focusing on the six major principles of salary and compensation management (i.e., the strategic theory, fair theory, competition theory, incentive theory, economic theory and the legitimate theory) analyzed the common problems existing in NH branch of salary management, such as lack of strategic, lack of internal equity, lack of external competitiveness, the lack of incentive mechanism, and under the orientation of combined theory of the unified NH branch business development strategy, the combined post management theory, the balancing of internal equity, the improvement of external competitiveness theory, and the assessment and incentive driven principle, strategy such as the closely approach of the NH branch’s overall strategic salary management system, improved the management level; the improvement of the post salary, gradually achieve internally fair distribution; the combination of salary and compensation allocation and performance, enrich the connotation and make it more flexible; the establishment of scientific and effective performance evaluation system, broaden the recognition of compensation management; the adjustment of the salary structure, built a diversely incentive mechanism, enhanced the external competitiveness; people oriented, strengthened the employee participation and so on.