Redesign And Implementation Of Compensation System For Lejin Company

The face of globalization, the era of highly integrated, human resources and science and technology have become the focus of competition. Productivity factors were the most active and most active of the "first resource", the importance of human resource management has recognized the majority of enterprise managers. The development and utilization of human resources, is key in to mobilizing workers’ enthusiasm. In human resources incentives, the compensation system is the most important and basic incentive system. Corporate compensation system is scientific and directly determines the enterprise’s core competitiveness and market competitiveness.Lejin Electronics Co. Ltd. is a multinational home appliance enterprise. Its Shenyang branch is mainly engaged in the production, sales and marketing of high-end digital displays, home appliances and multimedia products in the North Eastern Chinese market. In the face of fierce competition in the appliance industry, designing a fair and equitable compensation system reduces the loss of core personnel to protect the enterprise. There are many problems at this stage as the company cannot meet the requirements of human resource development; the compensation system therefore, can use certain reforms. This paper will analyze their existing compensation system, and their existing remuneration package. This article will investigate the business realities of the salary system via analysis theory and motivational theory. This paper will also suggest reforms, taking the current human resources situation and problems to promote fairness, incentive, and competitiveness. Suggested modifications toward a more mature compensation management system will also take into consideration Lejin’s unique characteristics and the nature of the industry to design.The structure of this paper is divided into six chapters. Chapter1will introduce and explain the background of the main topics to study the ideas, main contents and major research methods; Chapter2is an overview of the compensation management system design theory; the remuneration concept and composition of the main factors affecting pay levels, salary management system, the theoretical basis for the design and the design processes described. In Chapter3, will discuss the Lejin Electronics Company, providing a brief status of the company’s human resources and current remuneration system, analyzing the existing problems, and make a diagnosis. Chapter4is redesign the compensation system of Lejin Electronics. Primarily targeted at the company’s compensation system, the main problems, combined with the compensation system design theory and methods, through job analysis, job evaluation, the salary survey, using classification level set method to determine rank. Determined in accordance with the rank of the corresponding wages, for job categories determine their pay scales. Chapter5will focus on the implementation of the compensation system proposed to ensure the effective implementation of the key links. Chapter6is the conclusion.