Salary Strategy Research for A Auto Part Company
|School||East China University of Science and Technology|
|Keywords||Salary Strategy Auto part Core staff|
The competition of products and markets is essentially the competition for talents. They are strategic resources which are the keys to success. As the only high-tech local company that has all core automotive airbag technology and completely independent intellectual property rights, A company faces a major problem, namely how to capture the opportunity to expand when dealing with the high speed development of car industry and nation policy supporting it. However, recently A company is troubled by the turnover of core technical talents and 99% employees dissatisfying the compensation system. So this paper will focus on the compensation system, in order to find the cause of the problem and look for a solution.The paper has an overall research on the compensation system. By communicating with different level of the company, deeply digging the problems about the compensation system, focusing on the key position. In this paper, combined with scientific technique and means of compensation system, market research and other statistic analysis, we try to maximize pay leverage and design a compensation management scheme to attract, retain and motivate key staffs.The paper shows the reason of the research and the theory development of compensation system first, then analyze the difficulty by market research, formal and informal interviews and survey. After listening to the managers and staffs, we find the major problem in the compensation system of A company. Finally, conducting various ways of statistic analysis, such as job analysis and job evaluation, adopting employee self-assessment and group assessment, we determine the sequence of A Company’s core staff and decide the compensation design and salary structure of this sequence. According to A Company’s actual situation, we develop related performance appraisal and promotion system.We hope to find a way for local car part companies to make a proper compensation system by analyzing A company and to help other companies make a good strategic human resource policy in order to survive and obtain competitive advantage.