| In the human resources management(HRM)field,compensation management is one of the most important and core module.It is a essential mechanism for compensation distribution in the enterprise.And perfect compensation system can fully stimulate staff’s work enthusiasm and creativity,as well as their maximum display of potential and value.That is to say,it is can not be replaced by other incentives.Therefore,the success of HRM is to some degree determined by compensation distribution,rationality,suitability and quality of its system.Zhuhai Huafeng Petrochemical Co.,Ltd is a production-oriented state-owned enterprise engaging in basic oil manufacturing.In the transitional phase from starting-up to development,the company occupies a larger share in the region of pearl river delta and both its size and leading industry position.Due to its rapid expansion of the business,it needs to bring in and retain a lot of talents and strengthen its internal management,especially in human resource management.There are some weaknesses in its HRM practice,such as the single structure of compensation system,not strong incentive,lack career development room for its staffs,which can not conform to the requirements of the enterprise’s development and support the achievement of the enterprise’s goals.Moreover,it fails to the meet the demand of its staffs’ development in all stages,which will be a barrier for the enterprise’s development.Therefore,it is of vital importance for Huafeng Petrochemical Co.,Ltd to establish a set of more scientifically designed and competitive compensation system which conforms to the development reality of the enterprise and takes into account the career development road.This thesis makes a certain study on the compensation system of Zhuhai Huafeng Petrochemical Co.,Ltd as a case.Firstly,the compensation system of Zhuhai Huafeng Petrochemical Co.,Ltd is investigated through questionnaire and interview of the employees so as to find out the existing problems of the compensation system and analyze its model,structure,and their causes.Secondly,by using related theoretical knowledge of compensation,motivation,and career development road,position sorting-out,work analysis and post evaluation are conducted so as to set the level for certain post for the new compensation system based on the career development road.Then,the author designed the post system as per classification,levels and grades,the career development road can be provided to the employees.Moreover,considering characteristics,development stage and strategy of the enterprise,the level and structure for compensation is determined through external survey on compensation,so as toreconstruct the compensation system of Huafeng Petrochemical Co.,Ltd.Finally,the author introduced a new compensation system,and set up the principles for amendment and implementation procedures of compensation,so as to guarantee the safe landing and steady implementation of compensation system. |
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