Three Party Sword Employee Stock Ownership

< p > < strong > private capital: "handcuffs" can only be assured of executives. < /strong > < /p >

< p > in the implementation of mixed ownership state-owned enterprises, the enthusiasm to promote executive shareholding is soaring.

The head of a large provincial enterprise in Anhui indicated that its state-owned enterprises were actively introducing strategic investors.

"Private enterprises have invested so much money, of course, we want to use equity to bind the interests of our executives and enterprises closely, so that they can rest assured."

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< p > if we say that the control of private capital in state-owned enterprises with mixed ownership is the first insurance to ensure the return on investment, we will allow executives to hold shares with double insurance.

Zong Qinghou, chairman of Wahaha, said that if he wants to attract him to mix with state-owned enterprises, he must first allow private capital holdings to facilitate the real improvement of state-owned enterprises.

Secondly, in order to solve the problem of owner vacancy, the best way to reform state-owned enterprises is employee stock ownership.

"We can get everyone's interests together, enterprises can do well, employees can also share dividends and increase income, so everyone's enthusiasm will be mobilized."

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< p > in the face of the restriction of "golden handcuffs", senior executives of state-owned enterprises are willing.

From the chairman of Song Zhiping, chairman of the China Building Materials Department, before the two sessions, the position of "focusing on promoting employee stock ownership" was made. After Greenland chairman Zhang Yuliang two sessions, he talked about Greenland employee stock ownership platform Greenland, and then to Shanghai medicine (601607, stock bar) chairman Lou Dingbo said last week that "the first half of the year launched equity incentive plan", and the enthusiasm of state-owned enterprises for employee stock ownership continued to rise.

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< p > "employee stock ownership platform is an important basic system for the development of modern enterprises and the reform of state-owned enterprises. It closely combines the management team, the backbone employees and the long-term management of enterprises."

Zhang Yuliang believes that "a company's short-term interests and long-term interests may be contradictory. Our business team is not only a migrant worker, but also a voice for investors. It can see more about long-term development, and the team is more durable and more stable."

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< p > < strong > backbone: look forward to < a href= "//www.sjfzxm.com/news/index_c.asp > salary system < /a > marketization < /strong > /p >

< p > in addition to state-owned enterprise executives, employee stock ownership involves more in the middle level of "core technical personnel and business backbone", in fact, this is a much larger group than corporate executives.

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< p > "it is icing on the cake to carry out the equity incentive for us."

The number of people who can be counted as backbone is so large that the average share to each person is limited and the incentive effect is limited.

Tang Qingna, a middle-level leader of a three tier enterprise affiliated to the China International Group, said.

She has worked for twenty years and won many national honors, which is the backbone of the company's rolling technology.

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< p > "monks and many shares are few" is the reality that the shareholding scope is extended to the middle level state-owned enterprises.

However, for the "backbone" of the middle class, what is most desirable is not the equity, but the more competitive remuneration.

Theoretically, the way of equity incentive is not applicable to all employees.

Industry experts point out that equity incentive is a variable risk salary and must be postponed.

The risk tolerance of executives is strong, and the proportion of equity in remuneration can be appropriately raised, so that it can be consistent with the interests of shareholders.

For middle-level employees, the high risk equity is not suitable for the overall income structure.

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Marketization of salary system is more urgent than implementing P.

Tang Qingna introduced that the middle-level treatment of its enterprises is still viable, even if it is not much different from the larger state-owned Steel Corp, but it has lost competitiveness with the "system outside" ratio.

"Now the enterprise competition is very fierce, we also recruit some middle level from outside, recruitment may have a high salary, but in fact, our central enterprises have many constraints, some commitments can not be done, and how much money can be given to the private enterprises, so this kind of people are not easy to retain."

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< p > Tang Qingna said that if the a href= "//www.sjfzxm.com/news/index_c.asp" > staff < /a > the base salary and performance pay are not matched to the market, even if it is divided into shares, it is still not equal to the income of private enterprises.

This loss of talent caused by the lack of attractive salary is regrettable. We hope to give state-owned enterprises greater management autonomy to improve the situation.

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< p > < strong > expert: pay attention to shareholding < a href= "//www.sjfzxm.com/news/index_c.asp" > detail design < /a > /strong > /p >

< p > there are different opinions on the question of who should be handcuffed for the golden handcuffs of employee stock ownership.

Some people think that managerial ownership should be held. Some think it can extend to the middle level. Others believe that reform can not discriminate against ordinary workers.

Industry experts point out that no matter where the boundary of the shareholding area ends, we should consider whether the employee stock ownership is a necessary institutional arrangement for the upgrading of the value of a state-owned enterprise.

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< p > "some state-owned enterprises believe that the reform of mixed ownership should be carried out now, and that workers should have some advantages."

Deng Hui, vice president of Jiangxi University of Finance and Economics, said that state owned enterprises are essentially owned by the whole people, not employees of state-owned enterprises.

In order to provide employee benefits, employee stock ownership is another form of loss of state assets.

It is considered that the idea of implementing employee stock ownership in state-owned enterprises is equivalent to carrying out the idea of mixed ownership.

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< p > employee stock ownership "looks pretty" mechanism has been widely adopted in the last round of state-owned enterprise reform, but because of its wide shareholding, the incentive effect is not large.

Deng Hui pointed out that few excellent employees in the world have a large range of employee stock ownership. Employee stock ownership enterprises are often a pitional form taken by enterprises in the face of difficulties.

Only when human capital is important to enterprises, can employee stock ownership have obvious effect.

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< p > reality, science and technology enterprises have been eager to try.

"The provincial government officials put forward that the scientific research institutes can try the equity incentive first, and have spoken our minds.

In the past, some small businesses allowed scientists to enter freely, and encouraged them with options. The effect was very good.

The technology we are going to have is quite high. If we can combine the interests and mechanisms of the scientific and technological workers, it is very important for the future success of the project. "

Peng Shou, chairman and general manager of China Building Materials International Engineering Group Co., Ltd., President of Bengbu glass industry design and Research Institute, hopes that by the spring breeze of reform, the enterprises in which they will be able to enjoy the "crab" with equity incentives first.

Some experts pointed out that we must pay attention to the detail design of ESOP, otherwise we will repeat the mistakes of the last round of reform.

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