The Redesign Of Compensation & Benefits System Of SZ Enterprise Group

A company's success depends not only on advanced technology, good equipment, sufficient money, quick information reaction etc. but also on high quality talents, who can make good use of these resources. How to attract and keep high quality talents has become an important part of company human resource strategy. Compensation level decides a company's competitiveness in HR market and its product's competitiveness. Compensation level setting up is faced by both employees'requirement of high compensation and company's requirement of lowering the HR cost. Compensation strategy setting up contributes to solving these two problems. A strategic, reasonable compensation system helps company development, contributes to attracting and keeping good employees, increases staff's satisfaction and improves company's performance. Designing a compensation system linking with company strategy, optimizing HR management with limited resources and improve company's competitiveness of keeping talents. The writer has been working in HR department in SZ enterprise group for years. Meanwhile, the writer has been thinking how to connect HR strategy with company development strategy, how to set up a company compensation strategy, build up company core competitiveness and apply compensation strategy to attract and keep talents.This article to analyze compensation system design theory, take a view of domestic /foreign company current compensation system implementation situation to analyze SZ enterprise group's business strategy and compensation strategy, and design its compensation system based on compensation strategy. During theory study, the writer focuses on how to match compensation strategy with business strategy, split business strategy into proactive type and conservative type and matches them with organic type compensation strategy and mechanic type correspondingly. During the compensation design, the writer analyzed position assessment, compensation survey, compensation level setting up, staff capability assessment, staff compensation setting up, compensation system implementation etc. and designed SZ enterprise group'scompensation system. Summing up, after studying the compensation design theory and designing SZ enterprise group compensation system, the writer thinks the company compensation design should change when needed to match the changed business strategy, so as to use reasonable compensation design to set up a compensation system that work efficiently for the company and maintain company's competitiveness of keeping talents.