On November 29th, the Eighth Seminar of Labor Market Price Survey, organized by CIER, was held in the first meeting room of Shaw Conference Center, Renmin University of China. The theme of the seminar was “Wage changes and Staff Motivation in the New Economy”. Ru Yingjie, Deputy Director of the Department of Labor Relations of the Ministry Human Resources and Social Security, Li Xiushan, Deputy Director of the Department of Salary and Benefit of the Ministry Human Resources and Social Security, Fan Yuexian, Deputy Secretary of Party Committee of Beijing State-owned Assets Management co., LTD, Mao Ai, Director of Labor Relations Division of The Human Resources Social Security Bureau of Beijing, Yue Ying, Director of Salary Division of China Federation of Personnel, Wang Xia, Director of the Salary Research Division of Salary Institute of the Ministry Human Resources and Social Security, Xie Qizhi, the Director of Human Resources Department of VENUSTECH, Tian Li, Compensation Consultant of Shell (China) co., LTD, Zhao Pei, Senior Human Resources Consultant of Semiconductor Manufacturing International Corporation, Ji Zheng, Partner of Taihe Consulting, Ji Yuanhui, Partner of HIPO and former Director of Hay Group participated the seminar. Zeng Xiangquan, Dean of School of Labor and Human Resources (SLHR) and Director of CIER, Ding Dajian, Director of Data Center of SLHR and CIER Researcher, Han Keqing, Head of Social Security Department of SLHR, Su Zhongxing, Geng Lin, Zhang Hao, Guo Yu, Wang Zhen, professors of SLHR and Li Hongjian, Yang Yumei, Wu Qiang, Hu Qi, etc., researchers of CIER also participated in the seminar. The seminar was hosted by Yi Dinghong, professor of SLHR and researcher of CIER.
the Eighth Seminar of Labor Market Price Survey
Professor Zeng Xiangquan delivered an opening speech. He expressed thanks to the participants and briefly introduced the trend of compensation and staff motivation in the new economy and the agenda of the seminar. It was also the 10th anniversary of CIER so Professor Zeng also introduced the research platform, results and cooperation with government of CIER and expressed thanks for the trust and support of government. General Secretary Xi Jinping has emphasized the importance of think tank, and Professor Zeng was sure that CIER will continue playing the role of the think tank of employment, salary allocation and related areas.
Professor Zeng Xiangquan, Dean of School of Labor and Human Resources (SLHR) and Director of CIER
Ji Zheng, Partner of Taihe Consulting, delivered a speech entitled “Trend of Compensation in the Recent Market”. Firstly, he analyzed the operation condition of local companies. He pointed out that the ratio of performance achieved during 2012-2014 first increased and then fell. The control mode of cost changed accordingly and to cut cost by reducing human resources input was less prevalent, while to cut operation expenses by optimizing business process and encouraging innovation was more popular. Then, he focused on the trend of compensation in the recent market. Taihe Consulting has found: 1) most industries has a relatively lower salary increase rate and Internet industry was favored; 2) bonus was more closed related to the business condition of companies; 3) more flexible benefit was used to attract, maintain and motivated talents; 4) material incentives were increased during the transformation period of companies; 5) the situation compensation adjustment of state-owned companies varied a lot.
Ji Zheng, Partner of Taihe Consulting
Ji Yuanhui, Partner of HIPO and former Director of Hay Group delivered a speech entitled “Trend of Partner Incentives”. First, she briefly pointed out the fact that the salary increase rate varied according to the types of employees and companies in the last few years. She also introduced the impact of executive compensation transformation of government-owned companies on narrowing the income gap. Then, she focused on the partner practices of Haier, Vanke, and Alibaba. Finally, she forecasted the trend of executive incentives in the future.
Ji Yuanhui, Partner of HIPO and former Director of Hay Group
Xie Qizhi, the Director of Human Resources Department of VENUSTECH, delivered a speech entitled “Compensation Strategy of Traditional IT Companies in the Internet Era”. First, she drew the conclusion that the rule of compensation and talent has been broken and the turnover rate has been increased by introducing the new challenges of recruitment. Then she introduced the solution of VENUSTECH on graduate’s compensation negotiation, per capita output and care for employees. Finally she suggested that the pace of economic development should be slowed down to optimize the talent cultivation system.
Xie Qizhi, the Director of Human Resources Department of VENUSTECH
Tian Li, Compensation Consultant of Shell (China) co., LTD, believed that all the compensation problem came to attracting and maintaining talents. She then introduced ways of attracting and maintaining talents in the aspects of compensation and benefit, opportunity, organization, work and talent.
Tian Li, Compensation Consultant of Shell (China) co., LTD
Su Zhongxing, associate professor of SLHR and deputy researcher of CIER, delivered a speech entitled “New Thinking and Old Thinking of Compensation Management”. He believed that marketization of talent need to be dealt with first, then the compensation. He pointed out that his thinking: how to solve the problem of staff motivation, by selection or by compensation? To use more intrinsic compensation or extrinsic compensation? To motivate employees by basic salary or by bonus? To reward team or individuals? Pay for job description or for practical work? And he gave his answers drawn from experience and won a lot of applause.
Su Zhongxing, associate professor of SLHR and deputy researcher of CIER
Li Xiushan, Deputy Director of the Department of Salary and Benefit of the Ministry Human Resources and Social Security, believed that two questions on civil servant need to be paid attention to: 1) the balance between the systems of civil servant and company employees; 2) the balance inside the civil departments. To make the balance, he suggested that market take the key role and government play its part. In the end, he said that government will continue paying attention to the changes of compensation.
Li Xiushan, Deputy Director of the Department of Salary and Benefit of the Ministry Human Resources and Social Security
Ru Yingjie, Deputy Director of the Department of Labor Relations of the Ministry Human Resources and Social Security, introduced policies on salary management and compensation transformation of executives of government-owned companies. First, he talked about the policy of salary guideline and the compensation survey. Then he shared the latest policy trend of compensation transformation of executives of government-owned companies. Reducing that compensation of administrative appointed employees and managing compensation of the executives of government-owned companies with market practices will have significant influence on the development of state-owned companies, income allocation and the development of new economy.
Ru Yingjie, Deputy Director of the Department of Labor Relations of the Ministry Human Resources and Social Security
Fan Yuexian, Deputy Secretary of Party Committee of Beijing State-owned Assets Management co., LTD, believed that to conduct the transformation of compensation of executives of government-owned companies, differences between the companies need to be took into consideration. Ownership structure, industry characteristics, operation modes and develop period need to be considered.
Fan Yuexian, Deputy Secretary of Party Committee of Beijing State-owned Assets Management co., LTD
Then, participates asked questions to the speakers and more ideas were exchanged.
In the end, Professor Zeng expressed thanks to the participants and summarized the seminar. He said that Chinese economy has been to a new period of lower growth rate. In the meantime, labor supply has been decreasing and structural contradiction has been more serious. In the new period, he suggested that government, companies and academy more closely cooperate and conduct more in-depth researches. CIER will continuing making contributions on researches on labor market price, staff motivation and other topics based on the eight-year “Seminar of Labor Market Price Survey’ with the moto of “professional and sharing”.
More than 80 people participated in the seminar.
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