Research On The Compensation And Incentive System Of X Money Broking Company

Since China joined the World Trade Organization (WTO), its financial marketand financial services industry have began to catch up with international development,because of the General Agreement on Trade in Services. As the important part of acomplete financial market system, money broking industry has been gradually openedin China as a pilot project since the year2005. Nowadays, there are five moneybroking companies in China mainland. With the development of this emergingindustry, the competition for market share and talents is increasingly intense. As afinancial service industry, the senior brokers and their customer resources are the veryfoundation of the money broking companies’ core competency. Therefore, an efficientcompensation and incentive system becomes the focus of the companies’ concern, inorder to enhance their competitive advantages in the talent market.This thesis takes the compensation and incentive system of X Money BrokingCompany, a new joint venture in the merging industry, as the researching sample.Firstly, based on a comprehensive review with the relevant theories of compensationand incentive, this thesis clarified the concept, structure, functions and core factors ofcompensation and incentive system. Secondly, with the modern compensation andincentive theories and practices, this thesis analyses the main issues and theimproving ideas of X Company’s compensation and incentive system with variousmethods, such as interviews, surveys, and literature research. Then, the compensationand incentive system for X Company is redesigned, according to the results of its jobanalysis, position evaluation as well as C&B surveys. Finally, this thesis evaluates theredesigned compensation and incentive system, compares its advantages anddisadvantages, and discusses the further improving plan.Through the research on the compensation and incentive system of a certainmoney broking company, this thesis reflects the common issues in the humanresource management of this emerging industry. By the discussion on the relatedsolution plans, the author hopes to provide a few references for the human resourcemanagement in money broking industry.