The Study On Improvement Measures For Performance Management System Of Zijin Mining

In companies , the payment of salary not only has the positive effect of compensation, protection and incitation on the employees but also plays an important role in capital value increment, operating costs management, business performance improvement, corporate culture consolidation, enterprise reform and so on.Compensation management system serves business strategy. Meanwhile it stays under the influence of such factors like corporate culture, corporate ability to pay, the nature of the industry and competition within the line of business. This paper is a case study which takes Zijin Mining as the research subject. On the basis of theories concerning compensation management and strategy management , this paper analyzed the adaptability between the existing compensation management system of Zijin Mining and corporate strategy as well as the internal and external factors that influence compensation management system from the dimensions of the base of salary payment, salary structure, salary levels and compensation management regulations. Conclusions were reached as follows: The adaptability of the existing pay system is as follows: the salary management system of the senior staff can meet the needs of senior staff, there is a high adaptability between the salary management system and development strategies, competition strategy, corporate culture, the nature of work in mining business, industry competition, staff characteristics, development stage of enterprise, there is a higher adaptability with the deployment of human resources, but the adaptability with the business ability to pay is uncertain. The capabilities of compensation management system is on a middle-level to meet the needs of middle-level employees, there is higher adaptability between the compensation management system with the competition strategy, corporate culture, a middle-level adaptability with business development strategy, deployment of human resources, the nature of work in mining business, industry competition, staff characteristics, development stage of enterprise, but the adaptability with the business ability to pay is uncertain. The salary management system of the senior staff can meet the needs of junior staff, there is a high adaptability between the salary management system and the competition strategy, the nature of work in mining business, industry competition, corporate culture, staff feature, there is a higher adaptability with the deployment of human resources, development stage of enterprise, but the adaptability with the business ability to pay is uncertain.At the end of the paper, the author discussed about and gave some suggestions to the adjustment of the adaptability of Zijin Mining's compensation management system.