| The economy of knowledge and China's WTO entry both accelerate the process of economic globalization. The core of the economy of knowledge is the new economy centered on human capital and intellectual capital. The central position of human capital determines that the competition between countries and enterprises will show up as competition for intellectual capital and management by knowledge. Human being, as the only carrier of intellect and knowledge, will become the object of competition. Who wins in the competition for talented people will gain priority in the economic development.With the deepening of China's reforms and opening-up policy, large number of private enterprises and foreign-owned enterprises and especially multinationals have entered Chinese market. Competition for the talented is more and more fierce. The competition shows up a distinctive trend that the excellent staffs of state-owned enterprises are leaving for foreign companies and private companies. The most direct reason for this brain drain is that foreign companies and private companies can provide reasonable, very high payment and welfare.This paper makes a research into the reward system of modern enterprise mechanism. The author, basing on research and analysis of old reward system of Changchun Gas Incorporated Company, redesigns the reward system, attempting to search for and establish a reward system that has general sense for Chinese enterprises, with state-owned enterprises in particular, in obtaining competitive advantage in the knowledge economy and economic globalization environment. Changchun Incorporated Gas Company is chosen for several reasons: 1.The company is a large one with state-owned shares taking up a great portion, it is representative; 2.The company has been establishing and perfecting modern enterprise system. The writing of the paper is of realistic sense to the company; 3.The company is one of only two appearing in gas industry, having the representative of the national gas industry.The paper is divided into four parts: 1.Evaluation of the company's reward system; 2.Theoretical research of reward design; 3.Redesign of the company's reward system; 4.Evaluation and summarization of new reward system.The first section is evaluation of the company's reward system. It first describes the present condition of the company. The company presently adopts the traditional structure payment system of state-owned enterprises, and has readjusted the system according to its characteristics. The specified system is as follows: payment=basic wage+ position wage+ work-years wage+ performance wage. Performance wage refers to the wage and bonus connected with the enterprise's performance. At last it makes an evaluation of the reward system, and points out several shortcomings:1.The present reward system is simply a readjustment of the former system, with no consideration of adaptation to the operation environment or to the enterprise's operation strategy.2.The basic wage for each position is isolated from the labor market, which causes brain drain;3.The allocation of performance wage is not reasonable;4.The reward system is not established totally basing on the actual condition. The second chapter is theoretical research of reward design. First, the paper defined the scope of the reward. Speak from the broad sense, the reward of the broad sense includes the payment of the economy with not economic payment. Then the chapter introduces four kinds of basic functions of reward: 1.Compensativefunction; 2.Incentivefunction; 3.Regulativefunction; 4.Performancefunction. Again, the section explained to three factors affecting reward:1.Exterior factor;2.Internal factor;3.personal factor. The fourth, the chapter puts forward the basic principles of reward design: emphasizing efficiency while not neglecting being fair; being stimulating; competitiveness and minimizing reward cost; legitimacy principle. At last, discussed the process of the reward system design. That process is divided into five steps: 1.Job...
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