Salary System Design For W Iron And Steel Corporation

Salary management is a major and key component in modern human resource management, and a salary system with high efficiency and a scientific salary management directly relates to attracting and keeping human resources, and employee's activity, thus directly influencing the effect of human resource management and eventually to the competitive power of an enterprise. W Iron and Steel Company is a state-owned large-scale iron and steel enterprise in Central China. In the recent ten years, it has expanded rapidly in its production and improved greatly in its technological level, however, all these changes has not caused the improvement of its salary system. However, it still adopts its old pattern used in planned economy, thus forming an obstacle to the further development of the company.The paper studies and analyses in detail about the current salary system and its problems on the basis of the enterprise background and real situation. Aiming at the existing problems of the salary system, it puts forward a new salary system according to the basic principle of salary design and also different salary design solutions for general employees, top managers, and special group correspondingly. It also discusses the implementation effect, disadvantages and further development of the salary system.By relating the employee's salary to the benefit of the enterprise and personal achievements and implementing diversified salary system for general employees, top managers and special groups, the new salary system efficiently solves effectively the problems existing in the old salary system and reasonably enlarges the income difference of employees, thus motivating the enthusiasm of the employees and accelerating further development of the enterprise.