Research On Improving The Employee Compensation System Of Y Branch Of G Bank

Under the New Normal,the downward pressure on the economy is increasing,and the development of China’s banking industry is also facing new challenges.At the same time,with the continuous acceleration of interest rate marketization,the degree of RMB exchange rate marketization is gradually increasing,and problems such as financing difficulties for private enterprises and small and medium-sized enterprises are becoming prominent.These factors have had a huge impact on the development of the banking industry,and competition in the banking industry is also becoming increasingly fierce.The competition in the banking industry is ultimately a competition for talent,but in recent years,many issues with compensation have led to a significant loss of talent.Although G Bank Y Branch is a large state-owned commercial bank,it is also due to the overall environment that talent loss occurs.Salary,as an economic link between enterprises and employees,the most important way to retain talents is to establish a comprehensive and attractive salary system.Only by giving talents a sense of belonging and value can they be better attracted and retained.Therefore,G Bank Y Branch must continuously optimize and improve its employee compensation system to seize the top spot in talent strategy,and must make continuous improvements to it.At the same time,by establishing a sound salary system,the enthusiasm and potential of current employees can be fully mobilized,and G Bank Y Branch can achieve high-quality,efficient,and high-speed development.This article takes the Y branch of G Bank as the research object,utilizes relevant domestic and foreign compensation research theories,and conducts an analysis and research on the compensation system currently used by Y branch of G Bank.At the same time,by designing appropriate survey questionnaires and selecting employees from different dimensions,an in-depth survey was conducted,and the following conclusions were finally drawn: Y Branch of G Bank has weak competition in salary management,unclear job settings,outdated performance evaluation systems,imperfect promotion mechanisms,and a lack of flexibility in the welfare system(which makes it difficult to motivate employees)The lack of non economic salary incentives(which is not conducive to retaining talent)and other issues,and the reasons for their occurrence were analyzed in depth.Based on the above,this article has conducted optimization research on all issues one by one,comprehensively and systematically exploring and designing economic compensation systems such as improving the overall salary level,optimizing employee performance compensation,and implementing diversified employee welfare system,under the premise of openness,transparency,competitiveness,and fairness and justice principles.It also focuses on employee vocational training Design a reform plan for the non economic salary system from the perspectives of employee career development prospects and caring for employees.Finally,in order to ensure the smooth implementation of this salary optimization plan in the Y branch of G Bank,this article also designs the following security measures: first,establish a salary management committee,second,strengthen communication and feedback on salary management,third,improve the transparency of salary management,fourth,improve the salary appeal mechanism,and fifth,establish a dynamic salary adjustment mechanism.