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ople? 當(dāng)前的任職者是否稱職? ? Managers need to be able to take decisions 經(jīng)理們需要具備相應(yīng)的決策力 ? Must be free from shortterm government interference, but must lose job security as a cadre 必須免受政府的短期干預(yù),但管理者失去工作保障 Performing 績(jī)效管理 Common understanding of anizational goals and priorities 針對(duì)組織目標(biāo)與重點(diǎn)達(dá)成共識(shí) Where are we going? 我們有何目標(biāo)? Clear expectations for individual and group contributions 明確對(duì)個(gè)人和小組貢獻(xiàn)的期望 What part do I play? 我需要發(fā)揮什么作用? Capability built through feedback and learning 通過反饋和學(xué)習(xí)來培養(yǎng)能力 How do we gain mitment from employees? 我們?nèi)绾潍@取員工承諾? Commitment based on meaningful work and rewards 基于合理的工作任務(wù)與薪酬基礎(chǔ)之上的承諾 What will it take? 需要哪些投入? Source: 19946 research by Hewitt Associates 出自:翰威特咨詢有限公司 19941996年度調(diào)查結(jié)果。To protect the confidential and proprietary information included in this material, it may not be disclosed or provided to any third parties without the approval of your anization and Hewitt Associates LLC. 為嚴(yán)守本材料中的信息機(jī)密和保護(hù)版權(quán) ,未經(jīng)貴公司和翰威特咨詢有限公司事先許可, 嚴(yán)禁向任何第三方泄漏或提供本材料中的任何信息。 Developing 發(fā)展 Key for all businesses 對(duì)所有企業(yè)而言至關(guān)重要 Fits Chinese culture and desires 適合于中國(guó)文化和期望 Current skill levels for operation in a market are low 現(xiàn)有的運(yùn)營(yíng)技能在市場(chǎng)中處于偏低水準(zhǔn) ? Capitalism “101” for directors and managers 針對(duì) 總監(jiān)和經(jīng)理們的“ 101”資本主義制度 ? Differing needs for each enterprise 各企業(yè)的不同需求 Rewarding 全面薪酬 Does pensation motivate people? 薪酬能否激勵(lì)員工? Needs careful design 需要進(jìn)行仔細(xì)設(shè)計(jì) Alignment with strategy is crucial 關(guān)鍵在于遵照公司戰(zhàn)略 ? “ You get what you pay for” 您已取得應(yīng)有績(jī)效 Next pages show some thoughts on stock options, longterm incentives preIPO and some market data for executives…... 下文中將介紹有關(guān)股權(quán)激勵(lì)及公司上市前高層經(jīng)理長(zhǎng)期獎(jiǎng)勵(lì)的一些觀點(diǎn)和市場(chǎng)數(shù)據(jù) …... . .... Stock Options Conditions for success 有效實(shí)施股權(quán)激勵(lì)所必須具備的條件 : Must be: ? strong corporate governance framework 完善的公司治理結(jié)構(gòu) ? clear taxation system 健全的稅收體系和制度 ? clear rules for whether panies can use Treasury stock or must buy stock 有關(guān)股票來源問題有明確的規(guī)定 (公司可利用庫(kù)存股票或回購(gòu)股票 ) Stock Options Conditions for success 有效實(shí)施股權(quán)激勵(lì)所必須具備的條件 : ? The government role is low and decisions must be left to the market 政府只 做它應(yīng)該做的事,決定權(quán)交給市場(chǎng) ? Publicity for investors 完善的信息披露 ? Rules against insider trading 有關(guān)內(nèi)部交易的制約機(jī)制 Longterm incentives prelisting 長(zhǎng)期獎(jiǎng)勵(lì) 上市前 Prelisting usually no stock on which to offer options 上市前 通常沒有可以提供期權(quán)的股票 Three other choices: 其它三種選擇: ? cash plan absolute performance 現(xiàn)金計(jì)劃 絕對(duì)績(jī)效 ? cash plan relative performance 現(xiàn)金計(jì)劃 相對(duì)績(jī)效 ? phantom stock plan 虛擬股票計(jì)劃 Longterm incentives prelisting 長(zhǎng)期獎(jiǎng)勵(lì) 上市前 Cash plan absolute performance 現(xiàn)金計(jì)劃:絕對(duì)績(jī)效 Simplest solution: decide upon key goal(s) and reward management for achieving it/them 2 or 3 year plan 最簡(jiǎn)單的方案:確定以關(guān)鍵經(jīng)營(yíng)目標(biāo)的實(shí)現(xiàn)為基點(diǎn)的薪酬管理方案 2/3年激勵(lì)計(jì)劃 Difficulty is goalsetting process, because goals may appear easy/tough in retrospect 目標(biāo)設(shè)定程序較難,因?yàn)樵谄谀徍藭r(shí),目標(biāo)或許似乎較容易 /艱難 Needs judgement function of Board 需要加以判斷 是董事會(huì)的職能 . .... Longterm incentives prelisting 長(zhǎng)期獎(jiǎng)勵(lì) 上市前 Cashplan relative performance 現(xiàn)金計(jì)劃:相對(duì)績(jī)效 Measures most often used: Total Shareholder Return, growth,