Construction Of The Effective Compensation Incentive Mechanism In Dongming Petrochemical Group

Compensation is a very important aspect of the human resource management system.Compensation incentive is significant to the development of the corporation, and affectsthe development strategy and competitive strength. The purpose of paying compensation isto support the human resources system and to gain competitiveness. Effectivecompensation system design and distribution structure stimulate staff’s work enthusiasm,initiative and creativity, then create more economic benefits. Therefore, compensationincentive is an important feature of the income distribution system. By adjusting the level,system, structure, form and special staff group’s compensation, guiding by mobilizing thestaff’s initiative, enthusiasm and creativity, using targeted and compensation incentiveimplementation method, the compensation incentive is a compensation management modeto achieve organizational goals.This paper analyzes the compensation incentive problems of Dongmingpetrochemical group, such as single compensation incentive form, unscientificcompensation system structure, rigid incentive mechanism, lacking executive power, byanalyzing the evolution of compensation incentive in the engineering background ofShandong Dongming petrochemical group. Based on the guiding principles of buildingcompensation incentive mechanism, this paper analyzes the effective compensationincentive mode construct, puts forward the principle and design steps of building moderneffective compensation incentive mechanism, and build the bridge for the competitionincentive from theory to reality. According to the existing management mode of Dongmingpetrochemical group, the try and implement of the specific modern effective compensationincentive mechanism realizes the purpose of promoting the competitiveness throughattracting talents, retaining talents, stimulating staff’s potential, creating good competitionenvironment by the effective compensation incentive mechanism.AS a middle manager in Dongming petrochemical group, the author made somebeneficial attempt to explore, reform and practice the compensation incentive mechanism.The exploration to the Dongming petrochemical group’s compensation incentivemechanism is preliminary. And the compensation incentive mechanism is alsocontinuously improving, that will play a huge role trustfully.