| Project Title: | Design and Research on the Salary System of Technicians of Quanqin Electromechanical Equipment Co., Ltd |
| Author: | Miss Wu Xiaonan |
| Advisor: | Dr. Zhang Li |
| Degree: | Master of Business Administration |
| Major: | International Business Management |
| Faculty: | Graduate Schools |
| Academic year: | 2022 |
| Url:
Published: |
Conference Conference Proceedings National and International Academic Conference “Empowering Innovtion and Sustainability in the Next Normal” 27 November 2021 |
Citation
Wu Xiaonan. (2022). Design and research of the salary system of technicians of Quanqin Electromechanical Equipment Co., Ltd. (Master’s independent study). Bangkok: Siam University.
Abstract
With the development of society and the economy, the system of enterprises has become more perfect and the importance of human resources in enterprises has become more prominent. The support of an effective human resource management system is a necessary condition for enterprise development. Compensation management system is the core part of human resources and plays a vital role in the human resources management system. A scientific and reasonable salary management system can help enterprises to effectively attract and retain effective talent, improve the quality of human resources, and improve the competitiveness of enterprises. With the deepening influence of modern corporate governance theory on enterprises, enterprises have a deeper understanding of the operation of their own compensation systems. More enterprises have realized that with the development of enterprises, the original salary management system has been unable to meet the needs of enterprise development at this stage. The optimal design of the compensation system has been paid more attention and put on the agenda by more enterprises.
The market competition among enterprises in the 21st century is, in the final analysis, the competition among talent. In particular, technical personnel, as an important strategic resource of enterprises, play a pivotal role in transforming the economic growth and development mode of enterprises. This paper took the salary system of the technicians of Quanqin Electromechanical Equipment Co., Ltd. as the research object. Through analysis of the results of the questionnaire, the study investigated the salary satisfaction of technicians, and learned that there were many problems in the existing salary system of Quanqin Electromechanical Equipment Co., Ltd. Aiming at the existing problems and deficiencies, this paper analyzed the unreasonable design of the compensation system structure, and the unreasonable design of the compensation system in the compensation system of the company. The use of the literature data, the questionnaire survey, and other methods showed the personal goals of employees and the strategic goals of the company were not well aligned, there was a lack of standardized performance appraisal standards appraisal requirements, and there was too much emphasis on short-term incentives. Using the relevant theories of salary and salary management, optimization of the design of the salary system for technicians should follow three aspects: salary level, salary and benefits, and non-economic compensation. The enterprise compensation system would work better to provide strong support for the company to achieve its strategic goals.
Keywords: salary satisfaction, technical personnel, salary system, salary management.
Design and Research of the Salary System of Technicians of Quanqin Electromechanical Equipment Co., Ltd
Master of Business Administration (International Program), Siam University, Bangkok, Thailand