Gtresearch Institute Compensation System Redesign

With the change of the international situation in recent years, Chinese people gradually realize that aero-engine is becoming a bottleneck to the development of China’s aviation industry and the government has increased investment in the aero-engine technology. Advances in aero-engine technology are impossible without a high level workforce composed of engineering and technical talents, thus posing a new challenge to the human resource management of the aero-engine technology. Compensation management as an important module in the human resource management is of great significance to the construction of a talent team and a perfect compensation system plays a supporting role to the organization strategy.The present research takes GT institute as the research object and aims to put forward a scientific and reasonable compensation system to support the strategy development of the institute and meet the demand of the talents team building so that a well-established compensation management system could be built. After an elaboration on the background and significance of the present research, the author identified the research method and content.First, the author introduced the theories related to compensation management after an overall consultation on the management literature available in the institute and then carried out a on-the-spot investigation and discussion among the institute staff at different levels and specializing in different areas. Through an overall analysis of the compensation system in the GT institute, the author tries to pinpoint the deficiencies of the system and then find out the specific reasons.Second, starting from the organization strategy of GT institute and combining the organization culture and the advocated value systemin the institute, the author tried to determine the compensation strategy and compensation goals for the institute, which lays a foundation for the redesign of the institute’s compensation system. Besides, the author tried to establish a job evaluation system in the GT institute by conducting job analysis and carrying out job evaluation in accordance with the realistic and scientific position-setting and by employing point-factor method. Based on a clarified position-setting, the author tried to establish a vertical position system for the GT institute and finally introduce broad band salary design. All in all, the author tried to create a practical post performance compensation system for the institute which integrates theory and practice. The author also created inner compensation design to promote the activity and creativity on the part of the institute staff to support the development strategy of the institute.Finally, the author constructed corresponding safeguards for the management system to ensure the successful implementation of the new post performance compensation system.