【Abstract】 The state-owned enterprises of our country face puzzledom, that is, lack of effectual person with ability and serious outflow occur at the same time. Furthermore, this problem will be more serious by the warfare of person with ability, which resulted from using indigenous person with ability of foreign enterprises and a mass need of person with ability in private enterprises. The popular outflow of core personnel of state-owned enterprises is resulted from many factors, some are involved with the deep problem in reform of state-owned enterprises. But many state-owned enterprises merely notice high level salary in foreign and private enterprises, which is impossible to them, so they cannot help but facing the outflow. In fact, salary is one aspect to attract person with ability, but the more important aspect is that the foreign and private enterprises pay more attention to bring up the personnel and offer development chance. This text is cognizant of the need and importance of motivation to human capital by expatiate motivation theories and human capital theories, and find that there are many questions in the understanding of the state-owned enterprises to human capital and the construct of motivation mechanism, which compare with that of American and Japanese, such as the meaning of human capital, long term motivation, the relativity between salary and achievement. The low effect of motivation to human capital counteract that the state-owned enterprises is powerless to attract and retain person with ability. Of course, motivation mechanism, as one part of human resource management system, can make larger use only with restriction mechanism, traction mechanism and competition mechanism. In the market economy system, human capital of state-owned enterprises accord with the hypothesis of “complex person”, so their need is not only much but also variational. Based on the academic analyse and the case, the penman brings forward a suit of motivation mechanism to fulfil human capital, which including economic benefit motivation, achievement motivation, culture motivation and progress motivation. As underpinning of economy development of our country, effective motivation mechanism to human capital is related with the development of state-owned enterprises and persistent and healthy grandness of our economy, then affect integrated national power and competition power of our country. The penman hopes that this study helps to perfect human capital theory of our country and form Chinese characteristic human capital theory, furthermore, direct the practice of state-owned enterprises in attracting, retaining, and using high level personnel.
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