On November 11, 2022, at 2:00 p.m., the lecture of external experts "Corporate Compensation Plan Design and Implementation Facilities" was held in classroom C5-544. Associate Professor Cheng Yun invited Weichen Hao from Shenzhen Qiushi Human Capital Consulting Co., Ltd. to have a lecture about compensation management and communicate with the students who major in International Business, HRM direction.
Mr. Hao, the founder of Shenzhen Qiushi Human Capital Consulting Co., Ltd., was graduated from Central China Normal University, He had ever served as HRBP of Huawei's oversea region, HRD of Huawei’s oversea representatives, and VP in a cross-border company. He had also designed salary systems for several enterprises. He has rich practical experience in the field of compensation management.
Firstly Mr. Hao introduced the basic principles of compensation management. Compensation management is one of the key activities of human resource management in enterprises. Is compensation a cost or an investment? From whose position should we stand on when we solve the problem of compensation? How to balance the needs of various entities in enterprises while designing the compensation plans? Different philosophy, principles, and position will result in different final business results.
Then, Mr. Hao described the three times of value-distribution (market distribution, organizational distribution, and individual distribution) in the enterprises. There are different purposes and principles in the distributions. The market-distribution should push the company to win the market share, earn the profits and develop sustainably. The organizational-distribution should strengthen the core competitiveness of the organization and improve the capital investment. The individual-distribution in each department then should be efficiently allocated to encourage the work groups and individuals to work hard continuously.
Finally, Mr. Hao gave an in-depth interpretation of the key issues of the compensation design in enterprises, such as the selection of compensation strategy, the design of compensation adjustment ratio, the setting of job grades and salary range, combined with real cases.
In the lecture, Mr. Hao also introduced the career-path and work methods of human resource management professionals based on his own experience, while encouraging students to seize the opportunity and study hard in the university. Every time you get an offer and enter an organization, it is a re-evaluation about your capabilities and price in the human resource market. Improve your capabilities, increase your value continuously, and move from one peak to the next at all stages of career development, Mr. Hao said.
In the lecture, Mr. Hao shared his own practice and integrated it into many related theories, which was vivid and interesting. The students listened attentively and interacted with the lecturer actively, learned a lot about the principles and methods of compensation management, and got a lot the relevant cutting-edge information about human resource management.
Figure: Sharing by Mr. Weichen Hao
Text: Jiefeng Tang
Photo: Yun Cheng
Review: Yun Cheng
