Optimization For Compensation System In CY Chain Restaurants:the Perspective Of Total Compensation

With the development of economy and society,the scale of the catering industry is expanding and the demand for talents is gradually increasing.Meanwhile,the requirements for the abilities of talents are also constantly increasing.Nowadays,it’s more and more convenient for people to find a job,and the convenience provides the diversity of job opportunities.However,the convenience and diversity leads to a problem in catering industry that catering enterprises have fierce competition and high mobility.Hence,it’s an urgent problem for catering enterprises,especially for chain catering to decide how to attract talents,how to prevent employees from job-hooping and how to mobilize work enthusiasm through optimizing the compensation system.As a local chain catering enterprise,CY chain restaurant has accumulated rich experience in the management of medium catering enterprises and chain enterprise compensation system.But there are still some problems in its current development.Based on the research methods,e.g.case analysis method,comparative analysis method and investigation research method,this paper proposes optimization strategies for the compensation system of CY restaurant chain enterprises.The strategies draw on the advantages of the domestic and international catering enterprise compensation system,and deeply analyze the current status of the compensation system of CY restaurant chain enterprises combined with the compensation system theory and practical knowledge.This paper includes two parts: theoretical analysis part and practical analysis part.The first part introduces the research background,research significance,research ideas and methods of the topic.Then a detailed explanation is given for the basic concepts such as the carting industry,compensation system and overall compensation,labor market theory,overall compensation model,3P compensation management model and goal setting theory.A literature review of the compensation system is carried out,and the advantages of the compensation systems of Haidilao,Mc Donald’s and Qianbaiwei summarized as a reference.The second part is the core content of this article.It introduces the status quo of the compensation system of CY chain restaurant enterprises,summarizes and analyzes the advantages of the enterprise compensation system,and indicates the problems existing in the enterprise compensation system and explains the reasons.In the end,it proposes optimization countermeasures and formulates safety easures.Based on the perspective of overall compensation,this paper analyzes and optimizes the compensation system of CY chain restaurant enterprises from the aspects of compensation,welfare,work and life balance,approval,performance management and talent development.In-depth analysis of issues such as high employee turnover rate,low employee satisfaction,weak compensation system,unfamiliar employee compensation,and relatively weak corporate welfare.The company put forward specific countermeasures such as adjusting compensation strategy,optimizing compensation structure,improving compensation level,expanding promotion path,transparent compensation system,and strengthening spiritual care,and optimized the enterprise compensation system.The optimization of the compensation system provides references for the design and optimization of the compensation system of other restaurant chains,and explores the application of the overall compensation to the human resource-intensive enterprises.