Discussion on how to do compensation management of electric power enterprises

Abstract

Compensation management is one of the core topics of human resource management of the enterprise, and an important means for the enterprise to enhance its competitiveness and attract and retain talent. Scientific and reasonable compensation management not only stimulates the enthusiasm and initiative of the staff, and promotes the staff to achieve organizational goals and improve the effectiveness of the organization, but also attracts and retains the competitive workforce of high quality, which is an important factor to promote the sustainable development of the enterprise. Reasonable compensation system which can be described as the most important incentive method to be used most easily, is enterprises' return and appreciation to staff, so as to reward staff's effort, time, knowledge, skills, experience and creation, and enterprises' recognition of staff's contribution. In the eyes of the staff, compensation is not only their labor income, but also the representative of their value at certain degree, and the representative of the enterprise's recognition of staff, and even the representative of the ability and development prospect of staff. Scientific and reasonable compensation system is important for the development of the staff, and plays a more important role for the development of the enterprise. A reasonable compensation system plays an important role beyond measure in promoting the management efficiency of enterprises. The important role of compensation management Compensation management is an important factor to promote the sustainable development of enterprises Talent is the key for enterprises having a share in the fierce market competition. The construction of a good compensation system is the normalized way to retain the talent of the enterprise. In the new era when modern enterprise management regards people as the center, human resources become the crucial assets of the enterprise. The reasonable unification of retaining key talent, stimulating the potential of the talent, and realizing the individual and organizational objectives becomes the key to win the future sustainable development of the enterprise, while in this regard, the compensation plays a basic role. Every enterprise needs a competitive compensation to attract talent, as well as a certain guaranteed compensation to retain talent. Appropriate compensation management strategy is able to form a unified situation in the enterprise, making the enterprise attract and retain talent, then enhance the competitive advantage and achieve sustainable development of the enterprise. Compensation management is a powerful tool for the realization of enterprise strategic objectives. If the enterprise strategy is regarded as the lifeline of enterprise survival and development, human resource management is an important chain of enterprise strategy. Among them, the contribution of the compensation management to the enterprise human resources strategy is obvious. As an important part of enterprise strategy, compensation management can create and change the internal and external environment through its function to the employee, work team and the overall enterprise, so as to effectively promote the realization of enterprise strategic objectives.