Compensation System Redesign For M Company

Advanced compensation system plays a very important role in motivating employees,retaining employees and promoting the vitality of enterprises.M company is a state-owned service industry.Although the current compensation system is based on structured salary theory,in the actual implementation process,the fixed and rigid compensation system makes employees think that they have a big pot of rice,no initiative in their work and no vitality in the development of enterprises.Therefore,this paper mainly redesigns the compensation system of M company.In this paper,the current situation of M company's compensation system is analyzed from five aspects: basic salary,post salary,skill salary,annual merit salary and bonus,and the specific problems of the existing compensation system are sorted out.Then,the compensation system of 5200 employees in M company was investigated,and the questionnaire was analyzed according to the basic situation,salary status and salary incentive data.Questionnaire results show that employees are not satisfied with the basic salary,the salary of skilled positions,and 70% of employees expect to be recognized through competitive bonus mechanism.Based on the analysis of the results of the questionnaire survey,the compensation system is redesigned from three aspects: personnel structure,skill emphasis and bonus amount.We will adjust the annual merit wage ratio of employees with 6-10 years of service to double the current annual merit wage,increase the total skill wage and increase the total bonus.Enhance the welfare of employees as a whole.At the same time,in order to ensure the true level of skill posts,the evaluation and evaluation contents of upgrading skill posts are formulated.In order to ensure the fair and reasonable distribution of bonuses,the employee evaluation form is used to evaluate the bonuses from four aspects: self-evaluation,superior,subordinate and peer level.It objectively reflects the ability of employees and transmits the bonuses in the way of ratio * total bonuses.Through the redesign of M company's compensation system,the ultimate goal is to fully mobilize the enthusiasm of employees,retain core talents,and ultimately promote the healthy and rapid development of enterprises.