Research On The Construction Of Total Rewards System Of M Company Employees

With the increasingly important role of human resource management in enterprise management,more and more enterprises are aware of the important role of talent in enterprise market competition.How to attract,retain,motivate and cultivate their loyalty,dedication and high performance work attitude is the first consideration of enterprises.In this process,a good compensation system plays an important role in solving the above problems.Competitive compensation will attract excellent talents to join the company,and good working environment,advanced corporate culture and perfect compensation and benefits system after entering the company could attract,retain and motivate talents to a large extent.It can be said that compensation and benefits management occupies the core position in human resources management.This paper takes M company as the research object,which elaborates the purpose and significance of the topic selection,the current research situation at home and abroad,and determines the research ideas of the paper.The paper provides theoretical support for the writing of this paper by introducing the theory of total rewards,and propose a comprehensive compensation system solution by introducing the overall situation of M company and analyzing the existing problems of its current compensation system.This paper describes the relevant knowledge of the total rewards theory,mainly based on the total rewards theory and the model of American Total Rewards Association,involving six dimensions: compensation,benefits,effective balance between work and life,recognition,performance management and talent development.This paper introduces the current situation of human resources management in M company,focusing on the current situation of compensation system,especially the main problems: low salary level,lack of external competitiveness;inadequate job evaluation,lack of fairness in basic wages;imperfect evaluation mechanism,inadequate performance incentive compensation incentive;low overall satisfaction of employees with salary.In this case,through the analysis of M company's operation strategy,the total rewards model of M company is established based on the total rewards model of American Total Rewards Association.On this basis,the total rewards system of M company is designed,including the monetary compensation,flexible benefits plan and other non-economic compensation,such as performance management,employee recognition plan,effective talent development mechanism,effective balance between work and life.The reform of compensation system involves the interests of all employees and the company.Therefore,in the process of implementation,it is necessary to obtain the support of the company's leadership,the understanding and recognition of all employees,and the security of thorough institution.It is expected that through the construction of a total rewards system,the enthusiasm of employees could be motivated to the greatest extent,the loyalty and satisfaction of employees could be improved,the good social image and visibility of enterprises could be enhanced,and the win-win situation between enterprises and employees could be realized.