Paper
Research on EnterpriseCompetitive Advantage Based on the Total Compensation Strategy
- Authors:
- Fenyun Zheng
- Abstract
- Successful compensation system is a potential means that the enterprise gains and keeps competitive advantage. Many facts prove that the enterprise can't just let the market decide its salary strategy, and salary system must be designed from the strategy point of view. This paper expounds the connotation of the total compensation, and points out the relation between the compensation strategy and competitive advantage. The key whether the compensation strategy could enhances the competitive advantage of enterprises mainly depends on whether it would increase enterprise value or whether it is difficult to imitate; Then the disadvantage of traditional compensation strategy is also analyzed, and the following conclusion is drawn: in order to get and keep its competitive advantage the enterprise has to set up the total compensation strategy. Finally a model of enterprise competitive advantage based on the total rewards strategy is established to discuss how to develop salary strategy and how to set up the comprehensive and incentive compensation system in an enterprise in order to earn competitive advantage, which will provides theoretical support for implementing total compensation management of enterprise.
- Keywords
- Total Ccompensation; Rewards Strategy; Competitive Advantage
- StartPage
- 28
- EndPage
- 31
- Doi