Research On Optimization Of Compensation Management System In WM Machinery Co.Ltd

With the continuous improvement of the market economy system,the enterprise salary management system has undergone significant progress in both theoretical research and practical application.The ultimate goal of enterprise development is to maximize the enterprise value.Therefore,the innovation of enterprise salary management system will be the only way to realize the long-term goal of enterprise.The full use and development of enterprise human resources must reply on the company’s appropriate salary management system.WM Machinery Co.,Ltd.,founded in 2009,is a small and medium-sized manufacturing enterprise.With the continuous growth of business volume,the company’s organizational structure has gradually improved and expanded.At the same time,WM Machinery Co.,Ltd.is also facing difficulties in talent recruitment.These challenges have severely hindered the company’s sustainable development.Therefore,it is urgent to optimize the salary management system in this company.This study uses literature survey,questionnaire survey,interview,and field research as research methods to explore the problems of enterprise salary management system in the case company WM Machinery Co.,Ltd.It analyzes the reasons of the problems and then puts forward feasible solutions to effectively improve and optimize the enterprise salary management system.It is expected that the suggested solutions could help the case company to stabilize the staff.By improving the work enthusiasm and subjective initiative of the company’s employees,we can break through the bottleneck of the company’s human resource management and thus enhance the market competitiveness of WM Machinery Co.,Ltd.Based on Maslow’s demand theory,expectation theory and two factor theory,this study analyzes the current situation of salary management in WM Machinery Co.,Ltd.with multiple research methods,including literature survey,questionnaire survey,employee interview.The results show that WM Machinery Co.,Ltd has many problems,such as low salary level positioning,unfair salary distribution,non-standard performance appraisal and lack of salary incentive.By using the method of cause analysis,this study finds that that the main factors leading to these problems are the lack of management understanding,unscientific job positioning,imperfect performance appraisal system,and imperfect incentive compensation.Based on the principles of scientific research,feasibility,differentiation and economic applicability,the study systematically designs and builds an optimized salary management system,which is suitable for WM Machinery Co.,Ltd.The concrete optimization measures include establishment of a competitive salary policy,completion of employees’ personal file information,establishing a fair compensation system,and improving the incentive system of rewards and punishments.Moreover,measures from the organization,system,and human resources perspectives are required to ensure the smooth implementation of the program.