Study of the Improvement Strategy for the Compensation System of TANGMENG Culture Media Company

Last modified: March 28, 2023
Estimated reading time: 2 min
Project Title: Study of the Improvement Strategy for the Compensation System of TANGMENG Culture Media Company
Author: Liu Chunsheng
Advisor: Assoc. Prof. Dr. Qiu Chao
Degree: Master of Business Administration
Major: International Business Management
Faculty: Graduate Schools
Academic year: 2022
Url:
Published:
Conference Proceedings
The 6th STIU International Conference “Innovative Leadership for Sustainable Development” on 10-11 May 2022

Citation

Liu, Chunsheng. (2022). Study of the improvement strategy for the compensation system of TANGMENG Culture Media Company. (Master’s independent study). Bangkok: Siam University.


Abstract

Among the many cultural industries and sectors, cultural media companies are a representative component. The works of cultural media companies are often a manifestation of the imagination and creativity of their employees, and are an important force in the development and growth of China’s cultural entrepreneurship industry. Cultural media companies are faced with many challenges and obstacles in the process of survival and development. Some of the biggest problems are the lack of staff stability, high staff turnover rate, and great difficulties in company management. Many cultural and creative industries are faced with this dilemma, and when they analyze the causes, they can find the core reasons of the problems in the salary system and the salary management model. As a young cultural and creative company, TM Culture and Media Company has focused on its field since its establishment. In the process of developing quality products and business forms, the company gradually encountered serious talent turnover or poor talent stability, which became a barrier in the overall management of the company. This research utilized a targeted questionnaire to address the shortcomings of TM Culture and Media’s compensation system, and then analyzed the results. The aim was to identify the typical problems in the design of the compensation system of TM Culture and Media, define the basis for the improvement of the compensation system, design an overall plan for the improvement of the compensation level, develop a detailed plan for the improvement of the compensation structure and the compensation classification model, and finally design the implementation and guarantee measures for the compensation adjustment. The study examined the strategy and implementation details of the compensation system improvement so the overall compensation system of TM Culture and Media Company would be more scientific, reasonable, and standardized. The research process went deep inside the company to search for the current compensation system, analyze its operation mode, and find the root cause of the problems of TM Culture and Media’s compensation system. The results helped to find solutions and countermeasures, one by one, to help build a compensation system that suits TM Culture and Media’s actual situation and real needs.

Keywords: compensation, equity theory, hierarchy of needs theory, expectancy theory.


Study of the Improvement Strategy for the Compensation System of TANGMENG Culture Media Company

Master of Business Administration (International Program), Siam University, Bangkok, Thailand

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