HG Chemistry Engineering Company Compensation Management System Design

The competition of modern enterprises gradually focuses on contending for human resources. Human resources become the key factor that can help enterprises to win the competition superiority. How to attract, reserve, and develop human resources becomes a new theme in business administration. On the other hand, it is also a difficult problem to the managers. Human resources can gain more abundant earnings in return than the enterprise' s input because of their initiative. Human beings have independent thought, therefore managing them needs more skills. Managers link the employee' s demand with the strategic target of enterprise so as to stimulate the employees' enthusiasm for work. Compensation becomes an important method of stimulating employees. In pace with the development of economy and the abundance of material, money is gradually considered as "Hygiene Factor" . More and more other non-monetary rewards turn into "Motivator Factor" . However, a concrete question should be analyzed concretely. Although Chinese economy is developing quickly, there is a big gap between our general economic level and that of developed countries and our materials aren' t abundant enough. As to the employees of enterprises in China, economic rewards still have the obvious motivational effect. Therefore, a greatnumber of enterprises pay much attention to the compensation system design.The first section of the article introduces some relevant theories of compensation management, which expound the present situation and developmental tendency home and abroad. The second section analyses the present situation of HG Company compensation management and finds the problems in it. The third section is the focal point of this article. It integrates relevant theories with the practical situation of HG Company and designs a set of fair, efficient, and economical compensation system. The forth section evaluates the operational effect of new compensation system, then takes some adjusting measures to improve the system. The last section summarizes the experiences and lessons in designing the whole compensation management system and raises several questions about it to think.As a member of HG Company compensation system design team, the author participates in the whole designing work of HG Company compensation management system. According to those problems that exist in former compensation regulation of HG Company and relevant compensation theories, the team designs a set of compensation management system that is suitable for the developing situation of this company. The purpose of it is just utilizing this competitive compensation system to attract, reserve, and develop human resources and then promote the competition superiority of the company.Owing to the limitation in several aspects, this compensation system is only put to use in some departments of HG Company and the running time of it is not enough at all. The shortcoming of this compensation system perhaps could not completely appear in a short term, therefore we still have some subsequent work to do for improving the system. Nevertheless, this compensation design experience is a beneficialattempt for the author in combining theory with practice. It will have a far-reaching directive significance for the author.