Research On Optimizing The Compensation System Of HR Pharmaceutical Company

During the present age,human resources have become more and more scarce.Companies take great effort and rack their brains to attract,retain and motivate talents.The status of human resource management has becoming more important as well.Compensation management,a core part in human resources management,therefore is considered as the top priority.Compensation management is the root of human resources management.It plays an indispensable role in motivating,attracting and retaining staff.The company I work for is a private pharmaceutical enterprise,and its main business income comes from drug distribution.Drugs are related to millions of people,the pharmaceutical industry is also under the intense supervision by the state.Many policies concerning the pharmaceutical industry are released by the state in recent years,encouraging pharmaceutical industry concentration,drug price reduction,which make the industry competition fiercer.Expecting sustainable development in such fierce competition,talented employees are the most important thing for the company,and how to use the labor cost properly is a big question to be considered by the company.A quite large part of the labor cost is the employee compensation,so a rational compensation design will promote continuous development for the company.Therefore,optimizing the compensation system is an inevitable choice during company development.This thesis takes the design of the compensation system of HR Pharmaceutical Company for example,triggering other companies of the same industry to think over it.It is a compensation system optimization research conducted based on the position value and the company strategy.This thesis includes six chapters.Chapter 1 is the introduction telling the research significance,background information,relevant theory and the thesis frame.Chapter 2 is about the current situation of the company and its human resources.It describes the specific situation of HR Pharmaceutical Company acquired after talking with the top management,investigating compensation satisfaction degree etc.Chapter 3 is the cause analysis for the existing problems discovered in the compensation system investigation in HR Pharmaceutical Company,clearing out the final focus for the compensation system optimization.Chapter 4 presents the compensation system design and optimization plan.Chapter 5 comes up with the compensation supporting plan.Chapter 6 is the conclusion,also includes the deficiencyin the research,and the continuous improvement ideas during the future research.This thesis includes many analysis tools,such as observing,conversation,questionnaire,literature searching,causing analyzing,which are used to study the compensation system of HR Pharmaceutical Company.A more integrated,normative,equitable and rational compensation system is raised through the compensation optimization design ideas and tools such as guidance of compensation strategic and position analyzing,different compensation system choosing.Sequential wage system is designed by the aid of position evaluation,to ensure the fairness of the compensation of functional personnel.The base pay for sales personnel is determined by means of the qualification system,concerning the relation between position and performance.Immaterial motivation is improved through employee benefit design.The integral compensation system of HR Pharmaceutical Company has turned more sound and normal,promoting the whole company to develop harmoniously and healthily.During this research of optimization design,the compensation situation of HR Pharmaceutical Company has been checked and reviewed,the management got fully aware of the importance of compensation design,which has laid the foundation for future compensation management.It is founded that,during the implementation of compensation system optimization,the integral human resources management of the company has been improved on a certain degree.This can be seen from several aspects.First,the company policy of position setting and organizational structure setting has turned clearer,some redundancy personnel are reduced.Second,position description at all levels of the company has been organized and compiled,employees get clearer about their responsibility with more specific work direction and goal.Third,the timeliness and match ratio of personnel recruitment have been improved.Fourth,the human resource staff gets more eager to learn human resources knowledge so as to be more professional.Fifthly,the company will strengthen its efforts to create a humane care and cultural atmosphere,and strive to provide more non-material incentives for employees to improve their sense of belonging and identity.Sixthly,the design of career paths for personnel training is no longer a point distribution,but a combination of salary and performance,which has more practical significance.From different dimensions,this research will bring unprecedented changes to the company.