Research On Salary Management Of Shenhua North Company

Beidian Victory Energy Corporation was established as the coal industry burgeoned. The lignite from Xilingol area without blending the high-quality thermal coal can be obtained considerable income. The company’s production scale suddenly improved year after year. Then supporting equipment and personnel were taken into as a flood. At the beginning, according to the next five-year development strategy, combined with the current forms of production and management, compensation management trended to rough mad type, with external highly competitive pay levels. At that time, all the employees didn’t care about the reasonableness of the remuneration system, and never be bored about the wages doubled. However, as the first three quarters of2012have been released by China’s economic data, the coal industry sentiment index hit a new low since the first quarter of2010. Beidian Victory Energy Corporation as a large enterprises bear the brunt, because the market showed weak since the second quarter, and the sales stagnated. While, the pay system stayed still, who has no idea to guard against the market risk. Closely combined with the coal sales, the wage couldn’t be paid totally. Since then, the Victory Energy Company started to adjust the salary structure, to carry out performance incentives in order to meet the need of company’s adjustment target. About2years later, we got some achievements. The frontline staff became working hard, and the company created many patents. During the process, some problems were exposed. Such as the policy changing too fast, and unstable income. The staff became to focus on the salaries, which bring them to be unsatisfied. The great differences between any two jobs made staff to produce urgent need of promotion. All this become to force the pay system to change. Victory Energy Corporation has to discover, to solve problems, to improve the pay system.