Tl Generation Companies Pay System Is Fair And Explore

In fierce market competition, the survival and development of the enterprise cannot succeed without managing its compensation. The competition of the modern enterprise is in fact the competition of talents. How to attract and retain talents has become key factor recognized by enterprise. Equitable and reasonable compensation management is one of the most important and effective means. Equitable compensation management not only reduces the cost of employee, but also motivates staffs enthusiasm, activity and creativity, in which the enterprise achieves competitive advantage and gets utmost profits balance between enterprise and staff.The article first introduces concept, classification and function about compensation, followed by description of history of compensation management development and new development of compensation system design. It specially introduces equity theory, internal fairness, external fairness, job evaluation method, market's salary theory and salary survey. Secondly, the paper focuses on TL Electricity Company as study object and introduces its present condition and compensation system and weight to analysis its internal fairness and external fairness. Finally the thesis brings up suggestion about compensation renovation and way about compensation system design based on equity theory. The article attempts to explore method and approach to solve compensation management fairness problem that TL Electricity Company meets.