The Study On Compensation System Optimization For China Construction Fifth Engineering Corp.,Ltd

Whoever owns the most outstanding talents,will gain the competitive advantage,which will make a company remain invincible in the international competition.Compensation management is the core part of a company's human resources management.Constantly improve and consummate the compensation system,and constantly explore the suitable employees incentive mechanism to fulfill the company's reality is essential for our company(China Construction Fifth Engineering Division Corp.,Ltd,short for CCFED)as well as our parent company(China State Construction Engineering Corporation,short for CSCEC)even the entire construction industry to stimulate the potential of employees.What's more,it has profound strategic significance on improving the human resources management of construction industry.This paper use the modern scientific compensation theory and employees incentive mechanism,combined with the development trend of modern compensation management,analyzes the current situation of 435 compensation system in CCFED.This paper aimed at solving the following problems,such as: The compensation system does not reflect the strategic transformation of the company,the incentive mechanism is insufficient for long run,the compensation structure isn't rational enough,the bonus of the employees who work for the project can't be paid on time,the compensation adjustment mechanism is not flexible enough,the labor costs are not fully controllable … On the basis of job analysis,job evaluation and salary survey,this paper also gives an optimized scheme to improve the compensation system of the management team members,the organs of management and the project department staff,as well as the total wage budget scheme.The optimization scheme evaluate the post level based on the post value;define the salary scale based on the post level;determine the individual job levels based on the individual competency qualifications;define the salary scale based on the individual job levels.And this scheme insist on the “golden sticks(reward)plus the tiger(punishment)” employment mechanism,focus on actual performance and keeps strictly the rules for reward and punishment.This scheme refreshes the salary scale on level,strengthens the systematic and hierarchical of the salary structure,formulates the applicability of post wage system,combines the post system,the employees' career development system and thecompensation system,provide a sufficient space for a win-win situation of the company and employees.In order to make this scheme operate smoothly,we need to draw up an implementation process and an operational safeguard measures.The carry out of this optimization scheme can do a positive work on the employee incentive mechanism and can improve the employee efficiency of work.The research in this paper can contribute to CCFED on improving the level of human resources management,making the most use of its own human resources,strengthen the team cohesiveness and controlling the labor cost.