Study On Optimization Of Salary Incentive Mechanism For Changchun Branch Of China CITIC Bank

Salary incentive mechanism is an essential component of the structure of modern enterprise management. How to attract and retain talents in the fierce competition for talents has drawn the core attentions from the aspect of human resource management in each enterprise. Along with the rapid development of banks, stocks, trusts, internet banking and other companies in the field of finance in recent years, the concept of salary management has become more complete, the competitions of market and talent within the same profession are becoming fiercer, and the needs of communication and promotion are also on the rise. In such situations, how adjust the salary incentive mechanism to elevate employees' satisfactions and loyalty, thereby enhancing belongingness and responsibility of staff to company and vigorously devoting themselves to creating values for banks, has become a significant project in human resource of domestic commercial banks.China Citic Bank entered into the market of Jilin province from 2009, the revelations about deficiency of the salary incentive mechanism are troublesome problems during the development. By reasonably revising and improving the talent management system, it is helpful to find the solution mechanism for the existing problems in human resources compensation management, and further improve the present situation of salary management and boost the business conditions finally.Therefore, we discussed the salary incentive mechanism in Changchun branch of China Citic Bank, elucidated its present situation, the existing problems and the reasons for them, and presented a measure to optimize the salary incentive mechanism in its branch banks in this study.Firstly, we started from the present situations of the salary incentive mechanism of the Changchun branch of China Citic Bank, and analyzed profoundly the existingproblems and the reasons for them, including the lack of strategic orientation,shortcomings of long-term compensation incentive, inadequacy in equity and transparency of salary and simplest form of incentive pay. Secondly, we discussed the optimizing works on the salary incentive mechanism of the Changchun branch,explicated the procedure of the optimizing works, which persisting the principles of strategic orientation, fairy guidance, encouraging direction, economic orientation,competition guidance and employee involvement. We further proposed specific measures to optimize the salary incentive mechanism by combining with domestic and foreign enterprises more outstanding excitant incentives. These methods are deterministic development plans, adjustments of compensation plan, embodying the value orientation in performance appraisal system and salary, a reasonable combination of long-term pay and short-term compensation, the establishment of flexible policies and so forth. At last, we provided a comprehensive guaranteed measure to improve the salary incentive mechanism of Changchun branch from four aspects, i.e. cost, institution, organization and culture, in order to preferably implement the guaranteed measure for the optimizing work in Changchun branch.In this study, we unified the interests of the employees as well as the enterprise by upgrading and regulating the present salary incentive mechanism in Changchun branch in China Citic Bank, thus achieved a “win-win” for both the enterprise and the employees. Thereby promoting the operating efficiency of the bank and strengthening its competitive power, so that we could achieve a healthy and effective development of the Changchun branch of China Citic Bank.