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Design of XNM Company’s Compensation System

Author: XuBo
Tutor: XuZhiDuan
School: Xiamen University
Course: Business Administration
Keywords: Compensation Solution Compensation System
CLC: F272.92
Type: Master's thesis
Year: 2008
Downloads: 275
Quote: 3
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Abstract


Facing more and more fierce competition, managers realize the importance to win the competition and achieve their strategic goals through human resource. Compensation management is one of the key of HR management. It is not just part of the traditional production cost of the enterprise, but becomes a major factor which has tight relationship with HR management developing policies. The task of the compensation system is to realize the strategic aim of the whole HR management and finally help the company to achieve its strategic goal. Compensation management plays an important role in attracting, keeping, and encouraging people with ability. As one of the main components of HR management, compensation system should help the enterprise to promote its strength and to achieve the management target.According to its actual situation, we analyze XNM Company’s compensation system and find out the existing problems and the aspects need to be improved. We set up a better and more suitable compensation system through advanced compensation management model and experiences, as well as scientific tools. Under this system, the company will attract and keep high qualified elites, improve the activity and creativity of the staff, promote the core competition ability, and benefit both the enterprise and the staff.This article consists of five parts. Chapter one is an introduction. We introduce the background and significance of this topic as well as the research thoughts and structure. Chapter two is a summarization on the literatures. We introduce the main related theories of compensation management at home and abroad. Chapter three describes the current situation, strategic scheming of XNM company, and finds out the problems of the old compensation system. Chapter four supplies a new compensation system designed on the results we analyzed. Chapter five is a conclusion. We conclude the feasibility and defects of the improved compensation system by evaluating it in actual implement, and point out a further research direction.

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CLC: > Economic > Economic planning and management > Enterprise economy > Enterprise planning and management decision - making > Corporate Administration > Personnel Management
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