| Shi Cheng Household Square Company with limited liability,for short I'll call it Shi Cheng Company in the following essay,was established by Wei Xing Group Corporation in November 2013.It owned 85 staffs at that time.With its strategic location,the convenient traffic,and its professional management team,it succeeded in seizing the market share by the year it established.Meanwhile,the prime operating revenue was over seventeen million.But good time does not last long,things like the turnover rate rose,the core talents resigned,and the employees' satisfaction as well as their working efficiency decreased came into appear at the beginning of the year 2016.All these unstable factors impeded the sound development of Shi Cheng Company.Thus Wei Xing Group Corporation paid great attention to it.Through a series of studies,it is the salary strategy cannot meet its long-term development needs,the salary structure can hardly fulfill the staffs' diversified demands,and compensation level is lack of competitiveness,as well as the compensation institution is weak in renewal that leads to these problems.Without taking measures to improve Shi Cheng Company's compensation system,Shi Cheng Company will be eliminated in the fierce competition sooner or later.By taking the compensation system of Shi Cheng Company as the study object,this paper put forth efforts to improve the compensation system of Shi Cheng Company and lengthen its short.Exploiting the value of compensation system on activating employees' subjective ability,improving their working efficiency,keeping and attracting elites,and lowing company's operating costs do favor to hence the incentive of compensation system,increase the mercantile rate of return,and decrease the waste of human resource,improve its competitiveness so as to offer great help its healthy development.Meanwhile,it can provide reference and guiding dimension for small and medium enterprise.This paper mainly depends on the theories of human resource management and compensation system to improve the remuneration package.Combining with Pareto's law,using broadband salary theory,this paper does research on compensation system from the following aspects,compensation strategy,salary structure,as well as compensation level and compensation institution.Founding that it is short of theories on humanism and its discrepancy salary as well as the opaqueness that make the problem emerged.According to the problem,this paper tallies with Shi Cheng Company's nature,in accordance with functions of different department,take internal equality,external competition and effective encouragement as principles.Based on compensation strategy,this paper makes a rational plan of compensation structure.The improvement of the compensation system is mainly on three aspects—the basic salary,the merit pay and the welfare.Firstly,basic salary is compressed from 31 levels to A,B,C,D and E 5 levels,each level with 5 different grades to offer much mare promotion chances.Meanwhile,merit salary is oriented to performance.Based on performance evaluation,create the role of merit pay on distribution.Staffs' benefits system adds supplementary benefits to fulfill the needs of employees' esteem and self-achievement.At last,from offering culture guarantee on core value,behavior culture and creative culture aspects,providing institution guarantee on improving performance appraisal and promotion mechanism,establishing the training system aspects,as well as,offering organization guarantee on making staffs act with united strength to ensure the implementation of the improvement of compensation system.The improvement of Shi Cheng Company's compensation system will do great help to make the basic salary be more guaranteed,the merit pay be more incentive,and the welfare be cater to staffs' various needs.Making full use of its effect on motivating employees,keeping core talents,and attracting elites can enhance Shi Cheng Company's competitiveness and solid the foundation for its healthy development. |
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