Changqing Oilfield Compensation System Optimization

The greatest potential of the employees can be stimulated by a scientific and reasonable salary management system, which is not only the one of the important tools to enable the strategic goals and values of the enterprise into a specific plan of action, but also is the most effective way to attract and retain employees of modern enterprises. At present, the petroleum enterprises’ salary system in our country is generally rigid. the five oil production factory of Chang-qing oilfield company as an example, on the basis of investigation and analysis of the current situation of salary management and guided by the related theory of modern salary management, combined with the specific circumstances of the five oil production factory, the question of the optimization of the salary system would be discussed in the paper.The five oil production factory is in a rapid development stage and crude oil production is developing rapidly.The rapid development of the enterprise puts forward a new requirement for salary management, how to attract and retain key employees is the outstanding question. Based on salary satisfaction questionnaire survey, the five oil production factory of chang-qing oilfield company exists some questions, such as the salary strategy doesn’t fit the development of the enterprise, the incentive ways of salary are insufficient, the structure of salary is not scientific, the ways of the bonuses and benefits are unreasonable, the noneconomic salary and adjustment policies are ignored and etc. As a result, the optimization about the existing salary system is a particularly urgent question. On the basis of investigation and analysis of the current situation of salary management, the salary strategy and principles of optimization are proposed firstly; Secondly,the thought of the3PM salary system is identified,which is on the basis of position, person,performance and market price;Furthermore, the specific steps of the optimization designation are setted up from four sides,which contains the job analysis and evaluation, salary survey, the capacity assessment, salary structure designation; Finally some measures are put forward to support the implementation of the new salary system such as getting access to senior leadership support, establishing an effective communication mechanism, perfecting the performance management system, establishing the dynamic mechanism of salary management, paying close attention to the noneconomic salary and the career development of the employees. On the one hand, this study has important significance to the realization of new salary system about the five oil production factory; On the other hand, it also has certain reference value for other companies in the same area.