Research On Optimization Of Compensation System Of JR Textile Company

The manufacturing industry is the lifeblood of China’s economy and constitutes an important part in national economy growth.In the path of building China into a manufacturing powerhouse,China must truly support the manufacturing industry and promote the high-quality development of market entities.Yet the development of enterprises cannot be achieved without talents,so the "people-oriented" management philosophy has now taken hold in modern enterprise management.Compensation management,as an important function of human resource management in modern enterprises,is a dynamic closed-loop process of analysis,design,implementation and adjustment of compensation strategy,compensation level and compensation structure based on strategic planning of human resource through job evaluation and compensation research and analysis,for the purpose of achieving company development.A scientific-based salary system can not only motivate employees in terms of their passions for work,but also reasonably control the company’s human resource costs.So it is clear that an effective salary system is relevant to the healthy development of the enterprise.This paper takes JR Textile Company,a company in Siyang with more than ten years’ history,as the target of the research.Building on the theories of researchers at home and abroad,this paper gets a basic understanding of the current status of the compensation system of JR Textile Company and analyzes its compensation strategies,compensation levels and structures through checking the employee roster,resign files and historical records of payrolls etc.and calculating and analyzing ratio of men and women employees,the resignation rate,the age structure and the salary changes,combined with the salary satisfaction questionnaire and internal and external salary survey,so as to find out the existing problems in JR Textile’s salary system,identify the principles and objectives for optimizing JR Textile’s compensation management,design an optimized compensation system solution that meets JR Textile’s strategic goals in development based on the job evaluation method under guidance of the comprehensive compensation theory,and propose relevant measures to stimulate employees’enthusiasm for work and allocate resources reasonably,thus promoting the healthy and sustainable development of JR Textile Company.This optimization plan not only helps JR Textile Company to solve the existing problems in compensation system,but also improves the overall management level of the company to a certain extent.It is hoped that this paper can shed light on compensation management for other textile companies and provide a reference for the design of their salary system.