Research On The Salary System Optimization Of Y Chemical Company Limited

In our country,problems such as talent shortage,fierce competition,and market downturn are arising in the chemical industry.In addition,market competition is gradually shifting from local competition to international competition.It is the competitive employees that are the basis for industrial competitiveness.Salary has become a key factor for enterprises to attract and retain talents with the increase of employees’ living demands.Furthermore,a reasonable salary system is crucial to reduce contradictions within enterprises and the staff turnover.In order to better mobilize the enthusiasm of employees and increase the benefits of the enterprise,formulating a sound salary system is one of the effective management methods.The sustainable development of an enterprise relies on a competitive salary system that helps to obtain the cohesion of employees and maintain the core competitiveness.However,the salary system in fact is unreasonable in most small and medium-sized private chemical enterprises.Optimizing the salary system is a comprehensive process,which requires continuous and in-depth research during the human resource management.With the optimization of the salary system of Y Chemical Co.,Ltd.as the research object,this study was aimed at finding out the existing problems through questionnaire survey and follow-up in-depth analysis of the current situation of the Y ’ s salary system,in further exploring an alternative optimization design of that system.The optimization design,under the support of enterprise managers,is based on the combination of the theoretical research of salary management and the successful practice of other advanced companies.We not only try to optimize the current design of the Y’s salary system,but provide solutions to possible consequent questions after implementation,which makes a strong guarantee for the long-term development of the enterprise.Based on the actual situation of Y Chemical Co.,LTD.,we analyzed and evaluated the specific positions,and further proposed to optimize the position design by learning from advanced management theory.In addition,through comprehensively analyzing the external competitiveness and the internal fairness of the enterprise salary system,we put forward reasonable suggestions for the further optimization of the salary system of Y Chemical Co.,LTD..In order to mobilize the enthusiasm of employees while ensuring production,we have proposed a specific production performance award by quantitatively revising the performance appraisal method,and further clarified the design indicators and reward rules.We aimed at increasing the proportion of employees’ personal contribution rate in the company’s year-end performance rewards,which reflects the incentive effect and highlights the performance-driven compensation orientation.Since different employees have different interest needs,we recommend adopting a flexible welfare system and implementing it under the company’s salary level.This paper also gives corresponding suggestions and guarantees to improve the satisfaction of employees and enhance the competitiveness of enterprises on the basis of high-quality salary guarantee for employees.At the same time,we hope that this exploration can be effectively practiced and achieve certain results,so as to provide reference for other similar enterprises’ compensation management.