Research On Incentive Compensation Scheme For Account Manager Of XX Bank Branch

Against the backdrop of increasing competition in the banking market,account managers,as the link between banks and clients,their work results are directly related to the profitability of banks.Seizing account manager resources and stimulating their potential have become the key to competition inter banks.Incentive compensation,as the most effective part of the compensation system,has become a key factor affecting the performance of customer managers.This article takes the account manager of XX Branch of XX Bank as the research object and conducts research on their incentive compensation plan.By using the literature research method to sort out the theories and tools related to compensation,an analytical framework and research approach are established for this article.The performance-based compensation design concept proposed by Edward E.Lawrence III is adopted to determine the compensation strategy from three dimensions: enterprise lifecycle,company goals,and talent types.Through empirical research,internal and external compensation surveys were conducted.Customer manager compensation satisfaction surveys and semi-structured interviews were conducted internally.It was found that there were issues with insufficient motivation and fairness in the customer manager compensation plan.External market surveys on customer manager compensation levels were conducted,and it was found that there was a significant gap between the XX branch’s customer manager compensation level and the market average level,leading to a lack of competitiveness.Based on the existing problems mentioned above,the compensation structure is redesigned according to the established compensation strategy,which includes four parts: individual performance compensation team performance compensation,organizational performance compensation,and internal compensation.Extract the elements of incentive compensation for customer managers based on the three dimensions of compensation strategy,propose incentive compensation plans,and propose corresponding safeguard measures.