Academic journal article Canadian Social Science

Analysis and Countermeasures Research of the Current Compensation System among Chinese Scientific and Technical Petroleum Professionals/ANALYSE ET RECHERCHE DES CONTRE-MESURES DU SYSTEME RECENT DE COMPENSATION ENTRE LES PROFESSIONNELS PETROLIERS DES SCIENCES ET TECHNOLOGIES CHINOISES

Academic journal article Canadian Social Science

Analysis and Countermeasures Research of the Current Compensation System among Chinese Scientific and Technical Petroleum Professionals/ANALYSE ET RECHERCHE DES CONTRE-MESURES DU SYSTEME RECENT DE COMPENSATION ENTRE LES PROFESSIONNELS PETROLIERS DES SCIENCES ET TECHNOLOGIES CHINOISES

Article excerpt

Abstract:

Compensation has become a more complex and important management tool in the knowledge economy. This paper analyzes key issues played by scientific and technical petroleum professionals. Results of a survey of technical professionals are presented, followed by suggestions for improving their satisfaction and productivity.

Key words: scientific and technical talents, remuneration, motivate, salary, compensation

Résumé: La compensation est devenue un outil de management plus complexe et important dans l'économie intellectuelle. Cette thèse fait une analyse des issues critiques par les professionnels pétroliers des sciences et technologies chinoises. Les résultats d'une enquête des professionnels techniques sont présentés, suivis par les propositions pour améliorer leur satisfaction et productivité.

Mots-Clés: les talents scientifiques et technologiques, la rémunération, motiver, compensation

1. INTRODUCTION

With the coming of the age of knowledge economy, intellectual talents have become the most valuable resource promoting the development of an economy. The two core components of knowledge economy are science and technology, and the resource of talents, which comprise the fundamental impetus for the knowledge economy (Wang Yanshi and Liu Mingzhong, 2001). Thus, the technical domain is a very important form of working, and technical talents become very important human resources.

Reviewing the history, science and technology has involved in every step of the development course of petroleum industry. That is to say, the country without sufficient technological capacity cannot secure and utilize its petroleum resources. The petroleum industry depends on the innovation and promotion of science and technology much more than most other global industries (Yazhou, 2003). So it is clear that science and technology is the core part and plays an important role in the industry's development.

Since the 1980s, the rapid development of new technologies has produced huge effects on the development of the petroleum industry. From 1981 to 1996, the update ideas of oil field development and the advanced technology of oil extraction had reduced the unit cost of oil exploration by two thirds, and the exploitation cost had been reduced significantly (John Darley, 2003); Today, a large number of technologies such as oil and gas exploration and exploitation, storage and transportation in the P.R.C, have reached or been close to the contemporary international advanced level. The application rate of the result of scientific research in petroleum industry reaches 80 percent and the rate of contribution of science and technology advancement is up to over 40 percent, which is higher than the average level of national industrial departments (Securities Times, 20 November 1997). Therefore, technologies will become significant powers and will affect the survival and development of petroleum enterprises in competition. It will also be of direct and far-reaching meanings for the petroleum enterprises to promote their core competitive capabilities.

Therefore, the scientific and technical talents as the carriers of science and technology represent one of the core forces for supporting and promoting the development of petroleum enterprises. Thus, it is critical for petroleum enterprises to understand the role played by the compensation levels of scientific and technical talents in the petroleum enterprise, to adjust individual salaries based on working characteristics, and to foster innovation and enthusiasm through an effective salary system that reflects and inspires the value of human capital.

RESEARCH METHOD

A survey has been developed to assess factors associated with current compensation levels among scientific and technical petroleum professionals. This survey is based on issues raised in personal interviews and through numerous discussions with these professionals and their managers. …

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