WZ Company's Compensation System Design

For distribution always the hot issues of common concern for businesses and employees, companies should devote themselves more to "distribute the cake" than "do the cake".Pay System Design is to solve how to "distribute the cake", and is also an important part.of human resources management. Excellent compensation system can effectively attract, retain and motivate employees to maintain long-term stable development of enterprises and enhance market competitiveness. For WZ, is even more so. WZ, a typical of commercial circulation enterprises, which obtain profits through supplying raw materials to the steel, electricity and other companies by procurement of bulk materials and through value-added services, is a traditional highly capital-intensive enterprise with lowly dependent to production,So,it’s easy to generate turnover fluctuation. Therefore, WZ Company hopes to change the intrinsic ideas of its employees and achieve the company’s strategic objectives by the Compensation System Optimal Design. One the other hand, WZ expects it can create a sound working condition, an effective incentive to retain and attract key employees, improve the company’s core competitivenessThis paper, linking theory with practice, is written and guided by the compensation theory of modern times. Firstly, on the basis of research, it understood the current overall situation of the Pay System of WZ and found its irrational salary structure, a. lower basic wage, poor incentive, and salient phenomena of average salary level. Secondly, after summarizing the organization and job settings of WZ, the job evaluation and doing collection, analysis about market research and other related information, the author, combining the real differences of WZ company and its affiliated companies, determined a Calculation Method about corresponding wages of different positions, performance pay, seniority wages, bonuses and fringe benefits. it adopted methods of quantitative and qualitative analysis to support the basic points and specific measures of relevant program.and proposed the compensation scheme of WZ company.In the final of the paper, it discussed measures about how to ensure the new Pay System implement smoothly, such as relying on the establishment of performance appraisal system, rank level system and Strengthen ing human resources manag ement function, etc.