Study On Compensation System Optimization Of GS Bank Shandong Branch

In recent years, the fierce competition of financial industry is increasing. In this situation, how to maximize mobilize and motivate staff enthusiasm, directly determines the bank market competition ability and the profit level. Although there has been a focus in the reform of compensation system, it still exists many problems. How to further improve the incentive function of compensation, enhance the enthusiasm of the staff, consolidate the leading position of the industry, and is a problem worthy of study.Based on the GS Bank Shandong Branch compensation system, first of all, we introduced a brief review of the relevant salary incentive theory. Secondly, we reviewed GS Bank Shandong Branch system’s historical evolution and projects and summarized outstanding problems that exist in the compensation system. We analyzed that there are three main aspects causing the problems: competition in the industry, the state-owned enterprise impact and the weak viewpoint of performance incentive. Thirdly, we established the design principles, learned the attention problems and put forward the specific optimization, such as new job contribution subsidy program, the post value evaluation, standard post qualification, implementation of differentiated evaluation system and so on. At the same time, we put forward the safeguard measures. Finally, we summarized the article, drawn three conclusions and pointed out the direction of follow-up study.Through analyzing the problems and reasons, we innovatively highlighted subsidies of the front-line staff and the post contribution subsidy project. We broadened the employee’s development channels, and enriched the types of the welfare, making the welfare security system more flexible.