Usually the company's human resources management work has three important functions: to attract and retain good employees; motivate staff to achieve best use; so that the staff work objectives and the company Baochi 涓?嚧. Listed companies in the functional system of human resource management, compensation mechanisms in a complex manner greatly affect the realization of these three functions. Therefore, the listed company's remuneration and incentive mechanism is necessary for managers to focus on comprehension. So, how to evaluate a listed company's compensation mechanism? Should be considered the main content of what is it? Compensation mechanism in the analysis, one of the most effective way is to pay into three basic points:
Remuneration set to consider what factors
The first is the ideal level of remuneration, that is, employees received a total value of all compensation, including mental and material incentives income. The level of compensation decisions the company can attract employees by skill level and ability level. To a large extent, employees in accordance with the level of compensation to choose whether to enter a company.
Remuneration of the second basic point is its composition, that is, to pay dividends or bonus shares is divided into wages and other welfare benefits. Remuneration in the form of, we should focus on to consider two points: One is a certain way constitute a group of people more attractive, more necessary if the company found that a special class of a company can reward structure by adjusting to attract and retain employees in this category.
Companies need to consider the other point is to provide an interest cost of the take is big or small, the value of such benefits to employees is large or small. If the staff found that the value of an interest in speaking for themselves, than the higher the cost the company, and to obtain such benefits through the company than to get to get on with its own separate, the company should provide such benefits, should give employees cash. Companies often can obtain more than the employees themselves to get a price benefit, such as health insurance. On the other hand, if you do not consider allowing employees to freely determine what kind of access to benefits, employees want no cash to pay interest on the part of little significance. Special feature of the cash compensation is provided to employees the direction of a right to freedom of consumer choice.
A third element is paid in the form, that is, the relationship between pay and performance. This relationship determines the compensation taken by staff to increase their work. As the level of wages and performance pay is not the same thing, therefore, is not paid compensation in the form of the level of production incentives. Compensation is a powerful incentive tool, therefore, the ideal reward mechanism is an important factor in business success, and unreasonable compensation mechanism may give the company a disaster. Therefore, each listed company should carefully examine its incentive compensation mechanism in order to analyze the positive and negative.
How much incentive compensation appropriate?
Incentive level of trade-off method used is the incentive compensation and the balance between corporate risk. Increased levels of incentives, rewards and work is bound to strengthen the relationship between assessment, but it will pay employees the level of volatility. For example, increasing the company's Chief Executive Officer (CEO) compensation and the link between stock market value, can stimulate the CEO power, but also more likely to intervene in a number of Chief Executive Officer of the company shares to the value of high, but can not control their own to random operation.
Compensation paid to chief executive, in general, are increasing in order to reduce its conduct of the additional risk to the company, which also increases the company's wage costs. Levels of incentives and corporate trade-off between risk, determine the relationship between pay and performance types, in general, these random factors beyond our control, the smaller the reasonable compensation and the relationship between the performance of the more severe, and vice versa However.
In order to reduce the risk of their methods is a more narrow, targeted to evaluate the performance of employees. Ideal approach is to analyze the performance appraisal of all staff act with the interests of the company brought about the effect, regardless of other influences, but in practice this is not possible, we are still the CEO as an example:
Their remuneration directly linked with the company's stock price, where the interests of the company, including the Chief Executive Officer of all the decisions and judgments made by the consequences, including some beyond the control of the Chief Executive Officer of the company interests of the event. In the more narrow context of the performance of the CEO evaluation can rule out a number of such random factors, reducing the risks faced by the Chief Executive Officer. However, this problem itself, the performance appraisal will be more targeted, ignored the interests of employees and companies, on the role in other areas, thus distorting the incentive mechanism.
In any incentive mechanism, the need to weigh the performance appraisal is one of the basic contradiction in the depth and breadth. For example, better than many performance evaluation study to staff conduct the interests of the company's recent contribution to the neglect of long-term interests of the company's contribution. Different reward programs can sometimes compensate for the lack of long-term incentive problem. Take another example:
Such as a department manager, his job performance in accordance with their leaders to assess the performance of this sector, that is, to the department as a profit center for examination, it will ignore the impact on the overall interests of the company, but did not affect this sector interest factors. Also failed to consider the impact on other sectors, of course, it is possible in this sector and the company's other departments have greater independence. Companies must weigh how to evaluate the manager's job performance.
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