Remuneration policy

Compensation policy is a policy established by an organization that provides basic guidelines for the important aspects of salary determination and payment. It has an impact on the salary and welfare levels, grades and payment methods of employees at all levels and types. It also has an impact on salary growth benchmarks, promotion and demotion policies, overtime pay policies, etc. It is usually formulated and confirmed by the human resources or compensation policy committee appointed by the board of directors, and the human resources department is responsible for the specific implementation

In the process of realizing the transition from planned salary management to market-based salary management, enterprises particularly need personalized salary Only with the support of policies can we enter the normal salary management process as soon as possible, so as not to regard salary reform as the company's salary management activity itself and cause conceptual confusion.

Personalized remuneration policies are jointly planned by the company’s decision-makers and the remuneration expert team

Due to the particularity of state-owned assets, companies must rationalize the country, company, and investors , workers and other stakeholder distribution relationships, with the help of the wisdom of salary experts, combined with enterprise development strategies, paying attention to the characteristics of market competition and talent flow faced by enterprises, and in accordance with the standardized salary policy framework, the basic orientation of enterprise salary management is proposed and main ideas. This avoids the negative effects that the "executive's decision-making" style of salary decision-making may bring to the enterprise in terms of fairness and rationality.

Increase the transparency of corporate salary policies

For employees, fairness means both the fairness of salary distribution results and the fairness of salary management procedures. The focus of compensation on employee motivation should not only be the employee's past actions, but also the employee's future work behavior. Employees cannot and do not need to understand the professional techniques and specific details of salary formulation. However, salary policy orientation and incentive orientation can make employees feel the tendency of the salary system. This is quite important for the motivation process. Therefore, enterprises must publicize the basic spirit of compensation to employees through appropriate channels and means.

To sum up, the remuneration policy is usually formulated by the human resources or remuneration policy committee appointed by the board of directors. The confirmation will be very clear, the items are clear, there are relevant responsible agencies, and there are very detailed answers to this question

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Legal basis: Article 3 of the "Labor Law of the People's Republic of China" and the "Labor Contract Law of the People's Republic of China" Workers enjoy equal rights to employment and choice of occupation, and receive labor remuneration. rights, the right to rest and vacation, the right to obtain labor safety and health protection, the right to receive vocational skills training, the right to enjoy social insurance and welfare, the right to submit labor disputes for settlement, and other labor rights stipulated by law.