Compensation Design and Management Strategy

Author: Wang Lingfeng
Publisher:
Publish Date: 2005-01-01
Features: The features of this book, or what the author strives to achieve, are as follows:
1. It provides a relatively detailed introduction to some original research achievements and innovative practices in China.
2. It attempts to cite the most recent materials and arguments as much as possible. For example, the relationship between employee satisfaction and work performance has long been considered a simple positive correlation, but recent research studies have shown that this is not the case. Recognizing this point is highly beneficial for correcting overly idealistic practices in compensation management.
3. It seeks to design compensation from a broader and higher perspective, avoiding the level of traditional personnel management salary management. For instance, organizational design and process reengineering are the leading steps for job evaluation. However, the majority of current compensation management books in China do not mention this point. Therefore, when discussing job evaluation in this book, in addition to the content of job evaluation itself, it also includes organizational design and business process reengineering, which are not covered in most compensation design books on the market. This book dedicates a separate chapter to this discussion.
4. It emphasizes a problem- and case-oriented approach. There is no one-size-fits-all solution in management, nor is there a magic pill for all problems. Every compensation design method has its own advantages and disadvantages. The basic principles of compensation management are well-known, but how to design a specific compensation system based on the specific circumstances of the enterprise is the value of the HR department. Otherwise, with just a few VCDs, one could become a competent or even outstanding HR professional. In fact, the debate between whether management is an art or a science revolves around this point. Based on an appropriate introduction of basic theories, this book focuses more on discussing the strategies to address typical problems in compensation management practice, adapting and innovating them according to market and the company's own conditions to make them more suitable for the company's actual situation.
The target readers of this book are:
- Individuals with limited reading time who wish to grasp the basic principles of compensation management in a short period.
- General readers with a background in higher education (college or above) who are interested in human resource management.
- Readers engaged in compensation management who hope to achieve the effect of learning from one example through practical cases.
Finally, the author hopes that this thought-provoking work can provide readers in the field of compensation management with some reference ideas and cases when solving practical problems. Of course, to what extent this idea is realized and how valuable it is for those engaged in compensation management practice will be left for the readers to judge.