The Compensation System Redesign Study Of Dongyue International Co. Ltd

With the rapid development of knowledge-based economy, Compensation is no longer merely a component of operating costs for companies, but an important means of human resource investment. How to formulate scientific and rational compensation management system consistence with the enterprise development strategies and long-term goal, to ensure that at a reasonable cost, focus on developing employees potential, motivating maximize them to work hard, which is the major issue that must be stressed by Dongyue International Co.Ltd and other enterprises, which is also the core of this paper.In this paper, the compensation system redesign of Dongyue International Co.Ltd is proposed on the basis of analyzing the compensation system of domestic and foreign research and results, using total compensation system as the basis of theory. Firstly, introduce the company's main business, organizational structure, strategic objectives and long-term goal, the present status of compensation system. Then, use Compa-Ratio compensation balance indicators and questionnaire surveys to identify the problems of Dongyue International Co.Ltd's current compensation system. According to these problems, the compensation system of Dongyue International Co.Ltd will be designed more systematic and comprehensive on the basis of total compensation theory. Therefore, the five basic measures have been put forward which including:build the dual-track promotion system, flexible working hours, training system, and performance merit system, improve the position compensation program. Moreover, to help implement these basic measures successfully, three assistant measures have been applied by controlling pay cost, the arrangement of staff internal move, the support of the leaders of company and understand of staff.The series of improvement measures of the compensation system of Dongyue International Co.Ltd company are posed on the basis of total compensation system theory. Especially the measures related to the internal compensation and performance merit system are the improvement and complement for the present compensation system. It must have reference value for other enterprises.