Remuneration system reform of China's state-owned enterprises after the financial crisis
In the fourth quarter of 2008, US subprime crisis swept through all over the world, whipping up an international financial storm. China was also involved in this around of crisis, with weak and fatigue market performance, lead to the depression of the macro-economy and the operation difficulties of domestic enterprises. It became a challenge facing the management layer to adjust human resource strategies and reform the remuneration management system in due time, so as to convert the crisis to opportunities. The current remuneration system of China's state-owned enterprises does not work with employees' requirements on living and working qualities, and has even become a shackle hindering the development of enterprises. In order to survive in the increasingly fierce competition, the remuneration system of state-owned enterprises must be reformed to meet the challenges. This paper will first briefly review theories and principles of remuneration design, and then analyze the problems in the current remuneration system of China's state-owned enterprises, followed with policy suggestions on solving these problems.