The Design For Z Education Group Company's Compensation System

Human resource management is now regarded as one of the crucial strategies of a business, and the competence of a business is largely dependent on that of its staff, which urges the business to think of ways to attract prospective employees, retain qualified staff, and encourage them to bring their potential into full play. As far as the employees are concerned, salary is not only a guarantee for their daily life but a reflection of their value recognized by the business. Therefore, salary management has gradually become the nucleus of human resource management. In the light of modern salary management theory, salary is not only part of the business cost but an indispensable element of a business's human resource strategy. It is supposed to consist with the overall development of a business, and plays a vital role to draw, retain and motivate the staff.Taking education group company Z as an example, this paper analyzes its salary system by means of literary analysis and questionnaires to locate the existing problems. The findings suggest that the company doesn't appraise each post in a scientific way, thus failing to establish the value of each post and the correspondent salary, and that the salary of the staff is not associated with the overall strategic objectives of the business. Based on the research and relevant theory, the paper sets out to upgrade the company's salary mechanism, as a result of which the company's appeal to potential employees is greatly increased, and the staff's initiative and creativity are brought out, benefiting both the company and its staff.