System Design Of Total Compensation And Benefits For GSL Laser CO.,LTD.

As the burgeoning globe economy has run into the knowledge-base economy age totally and rapidly in 21 century, knowledge has become the vital motivation power of enterprises that have to enhance their core competence. Therefore, the valuable human resource that is regarded as the carrier of knowledge are becoming more and more critical. Even, they become the core resource of enterprises over the material and financial resources. It has been the common understanding of almost all enterprisers that Human Resource Management have very important effects on enterprises' developments. How to attract, retain and motivate the core resource is the profound problem to them.Compensation theory is the critical means to motivate the employees. So it is the core part of human resource management. How to figure out an appropriate compensation system is the first big problem to enterprises.Total compensation system was brought forth as a brand new compensation concept in latest years. It refers that the total compensation system exert a total efficiency in order to support to realize the enterprises' strategic development goals and meet the manifold needs of employees in the knowledge-base economy age through optimize the configuration of all compensation and benefits factors under the enterprises' strategy management frame. Constructing a effective total compensation system can offer an attractive working environment so that it brings competitive advantages of human resource to enterprises. At last, the total compensation system helps to realize the balance and maximum benefits between employees and enterprises.In this dissertation, firstly, the concept of compensation was introduced, including its connotation and denotation, classification and functions, especially, the intrinsic and extrinsic factors of compensation. And then, combining the Y theory and the correlative incentive theories, the Total Compensation concept was imported and all its components were elaborated specifically. After the analysis of GSL Company's general situation and the problems of its existing compensation system, a new adjusted compensation scheme was introduced.