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Design of the Pay Incentive System of Bank of China Jinlin Branch

Author: YuYanChao
Tutor: YuZuo
School: Jilin University
Course: Business Administration
Keywords: Human Resources Incentive compensation System Design
CLC: F832.3
Type: Master's thesis
Year: 2011
Downloads: 150
Quote: 0
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Abstract


In recent years, with economic globalization and China's rapid economic development, more and more enterprises attach importance to internal incentive compensation system, the establishment of a scientific and rational incentive pay system, external competitiveness and internal equity unified, can be achieved effectively motivate employees, to promote the sustainable development of enterprises and the realization of strategic objectives. Bank of China the Jilin Branch in the joint-stock reform of market-oriented remuneration system has been established, but the current system of remuneration set reasonable salary structure, performance standards, and so on, from the actual implementation of the results, there are still some problems. First, the targeted Jilin Branch of Bank of China as the research object, introduced the line of history, human resources, compensation structure and performance pay status quo, and described the branch personnel cost allocation methods and mechanisms. Bank of China as the old state-owned commercial banks, has a competitive edge in the domestic market, since the pay reform, established in accordance with the staff engaged in post paid to the post, and performance as the pay system, but by the original cause of The unit management mode and branches profitability, Jilin Province Branch of Bank of China issued in the pay structure, performance bonuses, benefits administration and long-term incentives, there are some problems. Pay levels are quite different than other non-state-owned joint-stock banks, other state-owned banks, the Bank of China pay levels at the middle level in the state-owned commercial banks, has a strong research value. Secondly, the problems for Bank of China, Jilin Province Branch of the existing pay system, the depth of analysis, the article pointed out, scientific remuneration system, external competitiveness and internal equity unified, can be achieved effectively motivate employees to promote sustainable development of enterprises and strategic goals. Jilin Branch in the joint-stock reform, market-oriented pay system has been established, but the current system of remuneration set reasonable salary structure, performance standards, and so on, surviving from the actual implementation of the results in some problems. According to the existing problems by the Bank of China, Jilin Province Branch of the existing pay system, the paper has carried out further analysis of the causes of a problem, both for historical reasons, but also awareness of the staff enough other reasons, incentive compensation just floating on the verbal and surface phenomena , employees do not have clear performance objectives metrics, employees' wages and incentives awareness is not enough, and there is a certain impact of bank health staff income, also contributed to the current incentive pay system problems of the important reasons. Finally, the problems in the existing remuneration system of the Bank of China, Jilin Province Branch redesigned set of incentive pay system, pay system design determine the target from the start, through the design principles of the remuneration system, the contents of the salary system, the specific implementation, and the supporting welfare, and several other parts, drill-down, re-complete the overall design of the Jilin Branch staff remuneration system. Incentives based on pay, the Jilin Branch of Bank of China, the current pay system analysis, redesign scientific and effective pay incentives to attract and retain talent in the fierce competition, bank profits and the Bank of China can sustainable development, has a strong reference value and practical significance for the establishment of the financial sector pay incentive system.

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CLC: > Economic > Fiscal, monetary > Finance, banking > China's financial,banking > Financial organizations, banks
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