Diamond Tungsten Products Company Pay System Design

Salary is a very important part of the modem enterprise, and is also one of the most important segment of the human resources management like a sword with two edges, if salary is designed properly, it will influence action and working efficiency of the staff greatly, and enhance their initiative and creativity. Otherwise, it will result in lower moral, unease and lower efficiency. Therefore, to design a scientific and reasonable salary system is very important for a modern enterprise.The object this paper is a state-owned limited corporation recently established, which plays a very important part in the rare metal metallurgy industry in our country. This corporation introduce a new production technology system and a management system based on the advantages of the two original stock-holders. At the beginning of establishment, the corporation face the challenge of designing salary system and a performance evaluation system. This paper analyses the characteristic of the corporation—state-owned productive enterprise and in the period of starting and the successful experience of salary system reforms both home and abroad, and then apply the theory concerning salary to the company, design a post efficiency salary, which is of some competitive advantages and of the company's own characteristic. The system includes grade wage, scale wage, efficiency wage, subsidy and welfare. They constitute an integrated salary system and a performanceevaluation system.This system is put into use in March, 2003. It proves that the system is practical and can give feedback quickly, program actual salary level of each post properly, evaluate the efficiency of staff objectively and really, make feedback to the performance of staff in time and adjust the salary level, so the system is very useful in the human resources management. It can improve the salary system designing of the two main investors and the practice of performance evaluation system, evaluate the performance of staff objectively, pro mote the quality and quantity of staff, protect and stimulate their initiative in their works. This system also delivers the organizational aim of the company and purpose of the managers to the staff effectively, make personal performance in line with the aim of company, achieve the goal arranging internal resources efficiently and realize the expected objective of design.