Redesign On Salary System Of Shenyang Oil Production Plant Liaohe Oilfield

In the21st century, competition between enterprises is essentially a talent competition, which has become increasingly prominent. How to establish a scientific, standardized and effective corporate salary system has an important meaning for the company to attract external talents, to incentive employees play a greater role in the work and create benefits for enterprises. In this study we take the Liaohe Oilfield Company, Shenyang oil extraction plant as an example, and go in-depth study and diagnosis on the company’s salary system in order to give some advice to optimize it an propose the reform program of the implementation.First, the equity theory is used synthetically to diagnose and analyze the salary system of Liaohe Oilfield Company, Oil Production Plant of Shenyang. In the study, internal equity, external equity and equity of employees of existing salary system are examined primarily. Through analysis we found some problems in the existing salary system design. According to the results of our diagnosis of these problems and guiding principles of the salary system design steps, we propose a program of redesigning this company’s salary system. Strategic direction has given a clear direction and goal of the compensation design. Job evaluation could ensure internal equity of compensation design. In the end salary market survey could ensure the external equity of compensation design. After the other internal and external influencing factors are fully taken account into the salary system redesign of Liaohe Oilfield, Shenyang Oil Production Plant, this paper propose ideas and programs of salary system redesign which is feasible. In this program, pay grade is reduced, pay levels and pay structure are adjusted so that the internal and external fairness has been significantly improved, which help companies attract and retain qualified personnel and incentive them work activelyFinally, we discuss the implementation programs of the salary system reform, as well as what should be paid attention in the implementation and management of these programs. In this study, the establishment of an effective salary system not only has significant meaning for the Liaohe Oilfield Company, Shenyang oil extraction plant but also has some guiding significance for other business enterprises which want to build their salary systems.