Study On Xi'an Minsheng Banking Salary Management System Innovation

A number of foreign-funded banks have entered the domestic market since China opened the domestic financial industry roundly at the end of 2006, which accelerated the internationalization pace of China's banking industry greatly. The opening up of financial industry places China's commercial banks into the fierce competition of international banking directly, the competition for the talented people of domestic banks becomes more and more fierce among the foreign-funded banks owing to the need of "localization", and the competition for talented people becomes a great battle besides the competition for customers. The foreign-funded banks have to obtain the professional people concerning the fiancial industry who have rich experience and know China's situation very well by the most effective way in order to adapt to the Chinese market, the brain drain of China's commercial banks has become an indisputable fact in recent years. Chinese commercial banks must retain the talented people in the fierce competition in order to survive and develop themselves.For China's commercial banks in terms of Xi'an Minsheng Bank, a key to solve the problem of human resource is to build a set of scientific and reasonable payment systems. In the competitive environment of human resources, the reasonable payment systems can not only attract and retain good employees, but also stimulate the enthusiasm and initiative in work and improve the employees'achievements in work to achieve the bank efficiency. The design of competitive and stimulating payment system is the effective weapon that can be relied on by the development of commercial banks. Accordingly, the way of establishing scientific, reasonable and efficient payment system in order to stimulate the motivation and ceativity of employees to a great extent has the most important realistic significance for Xi'an Mingsheng Bank. From the opening up of China's banks to the present, China's banking industry has reformed the payment systems for many times, but the preceding reformation could't solve the prolems such as the unreasonable distribution of salary, low efficiency of input and output and the serious disjoint phenomenon between the workers'salary and contribution and so on. Although Xi'an Minsheng Bank is set up very late and it doesn't have the above issues on the payment system left over by history, the bank is also faced with the similar problems of innovation on the staff payment management system. The problems existed in the current payment management system of Xi'an Minsheng Bank are reflected in such aspects as the serious confusion of posts and positions inside the bank, the low effect of payment system, the weak constraint function of the payment management system, the lack of scientificity on the management system, and the unreasonable structure of the payment management system and so on, which is not beneficial for the bank to attract and retain the talented people. Xi'an Minsheng Bank tries to innovate its existing payment management system in order to survive and develop itslef in the fierce competition.This paper mainly analyzes the history, the reality, and existing problems of the payment management system of Chinese commercial banks by sorting out and reviewing the relevant theories, summarizes the objectives and principles of Xi'an Minsheng Bank's innovation on the staff payment management system and puts forward the measures to innovate the payment systems of Xi'an Minsheng bank by turning to the related theoretical and practical achievements at home and abroad and combining the current situation of Xi'an Minsheng Bank's staff payment management system. This research result will provide the effective reference and help for Xi'an Minsheng Bank to innovate and perfect the payment system.