Hebei JY Chemical Fiber Company Lack Of Family Enterprise Human Resources Compensation System And The Perfect Research

With the deepening of reform and opening up and the development of China's economy,private economy has become the main force in driving China's development.As the main form of private economy,family-owned private enterprises usually lag behind in management method,especially lack of attention on payment system in the HR sector.Such issue has become a bottleneck restricting the development of family private companies.Based on study of principles about family private companies,HR management and compensation management,this paper conducts in-depth research on a specific family company-Hebei HR Chemical Fiber Company.By visits,meetings,and questionnaires,this paper identifies problems in its payment system and digs sources of such problems from perspectives like domestic culture,social system and private economy development.Based on the analysis,the paper then proposes strategies and measures to redesign the compensation system,thereby changing equity of family members and improving the whole compensation system.As a major sector in enterprise management,compensation management plays an important role in attracting and retaining talents and motivating employees.With study of the currentsystem of HR Chemical Fiber Company,this paper intends to propose a tailored compensation system featuring effectiveness and efficiency.It is also an objective of this paper to provide reference for the design of compensation system of other enterprises.