1. Guaranteed remuneration - basic salary This part of the remuneration is the part of the basic livelihood security for the employees. The traditional view is that this part of the enterprise's expenditure belongs to the cost of labor, so in order to reduce the cost, it is often used to reduce staff. Now we need to re-conceptualize the nature of the basic wage, it is not just a cost, and should be a real investment.
2. Incentive compensation - bonus incentive compensation is a one-time payment of compensation, it is the employee to achieve a specific goal or performance level or to create some kind of profit after the income, is the benefit *** enjoyment of compensation, that is, when the enterprise to obtain the winnings, the employee can *** enjoy a part of the winnings, can be in the form of cash, can also be in the form of equity. cash or in the form of equity. In senior management, the method of utilizing profit ****entitlement is usually the granting of stock options. Another important form of incentive compensation is performance-based compensation, through which companies hope to combine the benefits of performance-based compensation with the performance of the individual employee and the company, so that the employee can realize his or her greater potential.
3. Alternatives to pay - welfare benefits pay is another form of pay, which emphasizes more on the future of the employee to provide security, most of the costs borne by the enterprise. For example, medical insurance, unemployment insurance, pension insurance and so on.
The traditional welfare system lacks relevance and flexibility, employees have to accept the form of welfare provided by the enterprise, and sometimes may not be needed at all, and the huge welfare expenditure to the enterprise to create a heavy burden, the enterprise is as if being put on the rope, can not be unraveled, and some enterprises are unable to cope with the burden and bankruptcy. Self-directed welfare programs are a revolutionary breakthrough and are now becoming more and more popular. Employees have the right to combine their own benefit packages as they wish within a specified time and scope, and the benefits they enjoy will change as their lives change. For example, one company provides its employees with automobile insurance, and under a flexible benefits package, some employees can also waive their health insurance because he is included in his spouse's health insurance, and he can use that portion of his benefits paycheck to offset the expense of purchasing automobile insurance. Employees like the self-service benefits program because of its flexibility and optionality, and the program also reduces the cost to the business, making it a win-win.
4. Complementary to pay - perquisitesPerquisites are special privileges that employees are entitled to receive for special jobs or positions in the corporate world. For example, the right to purchase the company's products, low-interest personal loans, can take their spouses to travel and so on. This part is a relatively vague part of the remuneration field, but it has a good effect on improving the loyalty of employees, which can make them identify with the enterprise and improve cohesion. Good office equipment and office environment can create a happy working mood for employees. Extra allowances make it easy for employees to lead a high-class life, thus greatly increasing their actual salaries.
5. The flexible part of the salary - personal development, psychological income, quality of life In addition to material incentives in the pay incentives, but also includes the spiritual incentives, and for many young people, it is the weight of the pivotal role in determining whether he ultimately left or stayed, this is a kind of life-long benefits for the employee's salary.
(1) Personal promotion and development opportunities. It is everyone's dream to be successful at a young age, and everyone always evaluates a person's success by the level of his position, so striving for promotion opportunities and upward mobility has always been one of the driving forces behind the work of employees. However, with the flattening of the organizational structure, the route of promotion within the organization is getting shorter and shorter, the number of senior positions has been sharply reduced, and the promotion space for employees has become smaller, so how can we retain these employees? The internal rotation system is replacing ladder promotion and is being accepted by employees, which is a kind of lateral transfer within the company. For employees, different work experience can accumulate rich experience, laying a good foundation for future job-hopping. In addition, the enterprise can also according to the individual needs of employees to design personalized education and training programs, employees for the training opportunities provided by the enterprise has been more important than the importance of promotion.
(2) Psychological income. Psychological income refers to the emotional satisfaction created by the nature of the work, job performance and work environment and other factors *** with. Employers who neglect the psychological income of their employees can cause employee turnover. At work, there are indeed some factors that can help companies create a positive working environment, so that the employees are mentally fit to join the work, what are the ways in which companies can increase the psychological income of employees? You can increase the fun of work, improve the value of work, create a good team atmosphere, increase communication between employees and other methods to improve the happy feelings of employees at work.
(3) Quality of life. That is, how employees deal with the harmony and balance of work and life, can happily enjoy the fun of work and life is the urgent requirements of the younger generation. An engineer evaluates his work in this way: I work in the factory regardless of day and night, and I have no time to see my three children, which is not the life I want at all. So flexible working hours, fixed holidays, child care centers, nursing homes, and various agency services can all reflect the care of employees.
The power of money permeates everywhere in the difficult pace of pay reform. However, in the face of increasingly fierce competition, the importance of reform is self-evident. The overall remuneration program is a kind of satisfaction to the diversity and optionality in the remuneration system, and is also the innovation of the shortcomings of the traditional remuneration system, which determines the direction of the current remuneration reform.