Research On Improvement Of Salary Incentive Scheme Of Changchun FAW Sub-branch Of Bank Of China

Bank of China Co.,Ltd.Changchun FAW Branch(hereinafter referred to as "FAW Branch")was established on March 18,1988.It is a secondary branch of the Bank of China Branch of Bank of China Ltd.At present,FAW has a total of 11 operating outlets,7 departments and more than 200 employees.FAW Branch is adjacent to China First Automobile Group Co.,Ltd.The geographical advantage has brought good opportunities for its development.Guided by the core value objectives of the head office “to assume social responsibility and be the best bank”,FAW Branch has continuously expanded its business,seized market share,and persisted in innovation drive,which promoted the prosperity and development of the Bank's business.However,as the market economy becomes more and more open,the financial industry supervision system is upgraded,and the customer experience requirements are increasing.The original salary incentive plan of FAW Branch can no longer meet the multi-faceted market demand.Affected by external factors such as the economic environment,the income of employees is seriously reduced,and the pressure on employees is becoming more and more obvious.For example,the assignment of performance appraisal indicators is unreasonable.It follows the evaluation system of“Tenergy Performance” of traditional personnel management,and the internal evaluation of the evaluation criteria is too single and so on.Therefore,based on the current economic environment,combined with the Bank's management objectives and plans,this paper mainly studies the salary incentive optimization plan of the Bank of China Changchun FAW Sub-branch,improves the performance resource allocation method,and focuses on how to improve the performance appraisal module in the employee compensation system.By proposing an effective resource allocation plan and performance appraisal plan,rational use of the appraisal results,andimproving the salary incentive plan of FAW Branch,to achieve the purpose of improving employee satisfaction and achieving continuous growth of corporate`profits.Through theoretical analysis and case study,this paper analyzes the main problems,causes and new trends of employee compensation requirements in FAW branch of Bank of China.Through the discussion of the multiple incentives method,improve the existing incentive program,increase the sense of mission and recognition of the company.At the same time,by drawing on the experience of the compensation management of commercial banks in Western developed countries,suggestions for improving the compensation management of FAW branches of the Bank of China are put forward from various aspects such as regulating effective performance resource allocation methods,salary communication skills,and improving performance evaluation modules.Really achieve the goal of optimizing FAW branch performance compensation and other welfare schemes parallel to the employee incentive scheme.