How to do equity incentive in different stages of enterprises

In the initial stage of an enterprise, what is lacking is talent. At this time, the core is to stabilize outstanding talents and let everyone see the future development hope. At this time, core partners can be used to participate in profit sharing (also called performance shares). Entrepreneurial enterprises need talents from the beginning, and it is a good way to attract core talents in this way. At the beginning of the company's establishment, several core partners of the company invested in some way, and some invested in shares with their own ability. Of course, the regulations on shares are particularly important. The use of dividend performance shares will attract talents on the one hand and stabilize the core team on the other. For example, a technology-biased company can take the form of technology shares, usually in the form of internal agreements. In the form of technology shares, such shares have no voting rights and only enjoy the nature of dividends. In fact, more and more technology companies are adopting similar equity allocation methods. In the early days, companies were eager for skilled talents, and bosses would recruit technicians to join them in various ways. However, due to the consideration of the company's development direction, they are absolutely unwilling to sell the management right-so there is this kind of "only paying dividends and not participating in the operation". This form of shares is mainly used to unite teams. As long as the company as a whole improves, the enthusiasm of employees can be fully mobilized. Like a moving chariot. In this chariot, all employees need to be "tied together" to work hard, and profit sharing is the "interest chain" that binds the team together.

Growth enterprise

Growth enterprises generally refer to small-scale companies with indirect management. The boss can't stand it alone, so he needs to set up some functional departments, and the company forms a top-down management model. In this process, employee motivation is particularly important. Because with more and more indirect management, the overall operating efficiency of the company is declining, and the phenomenon of mutual shirking and separation of powers and responsibilities between departments is increasing step by step. In order to grasp the overall operating efficiency of the company and stabilize the backbone, equity incentive is the choice of more and more enterprises. In this process, enterprises need to be divided into different forms of development to do equity incentives. From the perspective of the development of Shanxi merchants, the equity incentive model combining physical shares with silver shares is the first choice for family businesses today.

Physical stock is not a stock in the strict sense, but an enterprise dividend right set by its ability, which cannot be inherited and transferred. Judging from the internal incentive mechanism of Shanxi merchants' bosses, shopkeepers and waiters, the core of body stock is to motivate people who work. This is very important. Owners hire shopkeepers and shop assistants to work. On the one hand, they pay their salaries, on the other hand, the core point is to equip their qualified personnel with sports shares. Therefore, the whole enterprise can unite, especially from the front line of creating profits, and employees can regard the work of the enterprise as their own work. Because of hard work, I can participate in profit sharing at the end of the year. This is an employee incentive method that can be widely selected by growing enterprises now.

The silver shares of Shanxi merchants, that is, the shares invested by the owners, are real enterprise shares. For growth enterprises, silver stock incentives can be implemented in a specific period. For example, before the company is about to go public, the implementation of bank share reform at this time can make use of future capital leverage to seek benefits for employees. Or when the entrepreneur is too old to do anything, the reform of banking stocks at this time can find excellent successors for the enterprise, truly realize the inheritance of the enterprise in an institutionalized way, and let the boss retreat behind the scenes and reap the benefits of the role of "risk-free" investors. Because enterprises use this system to find new owners. Or at a certain stage, enterprises must stabilize core talents, and then silver stock incentives can also be implemented.

The above introduces the equity incentive mode of growth enterprises, which is a universally applicable incentive mode. Of course, in addition, you can also use options to combine real shares and silver shares to implement equity incentives, so I won't elaborate too much here.

(3) Listed companies

As a listed company with a unique capital market background, implementing equity incentive has its advantages. You can use the power of capital to amplify the benefits of equity incentives.

At present, the commonly used equity incentive methods of listed companies are restricted stocks, performance stocks and virtual stocks.

1, restricted stock

One is to grant a certain number of company shares to the incentive object, but there are some special restrictions on the source and sale of shares. Generally, only after the incentive object has achieved a specific goal can the incentive object sell restricted stocks and profit from them.

2. Blue chip stocks

The rights granted by the company to the incentive object. The incentive object can buy a certain number of circulating shares of the company at a predetermined price within a specified time, or give up this right. Or set a reasonable performance target at the beginning of the year. If the incentive object reaches the predetermined target at the end of the year, the company will grant it a certain number of shares or withdraw a certain incentive fund to buy shares of the company.

3. Virtual stocks

It refers to a kind of virtual stock granted by the company to the incentive object, according to which the incentive object can enjoy certain dividend rights and stock price appreciation income, but it has no ownership and voting rights, cannot be transferred and sold, and automatically becomes invalid when it leaves the enterprise.

Since 20 14, * * 173 A-share listed companies have participated in equity incentive, and the total number of shares used by affiliated companies for equity incentive is as high as 278 1 100 million shares. For example, Bright Dairy disclosed the Announcement on the Award of A-share Restricted Stock Incentive Plan (Phase II) and the list of incentive targets. The company decided to grant 6,289,040 restricted shares to 265,438+00 senior high school cadres, including general manager Guo Benheng, accounting for 0.5 14% of its total share capital. The exercise price of this equity incentive is 65,438+00.50 yuan/share.

? Analysis of various incentive modes

Judging from the above-mentioned various equity incentives, there are various application forms in different stages of enterprise development. The equity incentive scheme based on the present situation and future strategy of the enterprise is a scientific scheme. It is desirable for start-up enterprises to attract talents by profit sharing, but the start-up of the company is unprofitable. How to divide it? This is also the need to consider when doing pre-incentives. Our suggestion is to share hope when there is no money.

For the equity incentive of growth enterprises, Huicong College, based on the study of Shanxi merchants system and the practical cases of helping enterprises, summed up the incentive method of combining body stocks with silver stocks, which can be widely used in private enterprises now.

At present, the equity incentives of listed companies are mostly a mere formality, and the existing problems are as follows:

1, when the company's performance declines, it often needs equity incentives to support the development of the company, but it does not meet the exercise conditions and cannot use these incentive tools;

2. The phenomenon of incentive mechanism is obvious. Because of secrecy and fear of internal imbalance, the equity incentive of listed companies is often a "dragonfly water" type, and the implementation result is similar to that of corporate welfare, with little incentive effect;

3. After the company has formed a certain scale, it is impossible to support the sustainable development of the enterprise only by encouraging the "top management", so even if it is encouraged, it is often difficult to have an effect.

In view of the above analysis of the equity incentive methods in different stages of enterprises, it can be seen that entrepreneurs, as the helm and guide of enterprises, what entrepreneurs want is very important. Whether it is "rich" or "talented", be careful that people and money are empty. & amp#8205;