《{人力资源奖罚制度}以股权为基础的薪酬制度与长期奖励计划》由会员分享，可在线阅读，更多相关《{人力资源奖罚制度}以股权为基础的薪酬制度与长期奖励计划（29页珍藏版）》请在金锄头文库上搜索。
1、Equity-based Pay 以股权为基础的薪酬制度,Date of Grant 授予时间,Date of Exercise 工龄,0,2,4,6,8,10,12,14,16,Gain upon maturation of award 奖励到期时的利得,What Do We Mean by “Equity-Based” Pay?什么是“以股权为基础”的薪酬制度?,Any form of pay arrangement aligned with, or paying out in, stock任何以股票形式支付或与股票相关联的薪酬形式 The basic payout opportunity
2、 works as follows:最基本的支付形式如下图所示:,The Entire Pay Picture整体薪酬图,The Entire Pay Picture整体薪酬图,The Entire Pay Picture整体薪酬图,Trend Toward Greater Equity Participation for Employees员工持股已成为全球的趋势,Increasing number of companies have embraced broad-based employee ownership越来越多的公司实施了广泛的员工持股计划 Nonmanagement employ
3、ees collectively own between 6% and 10% of total corporate equity非管理层员工总计持有公司全部股票的6%到10% Estimated 3,000 companies have instituted broad-based option plans since 1989从1989年开始，大约3,000家公司实施了广泛的员工持股计划 Shares set aside for options at all public companies valued at $600B compared with $60B in 1985现在所有的上市
4、公司用于股票期权的股票价值已上升到6,000亿美元，而1985年只有600亿美元 41% of large U.S. employers give stock options to at least half of their workforce 41%的美国大型企业向一半以上的员工授予股票期权,Why Consider Equity-based Pay?为什么考虑以股权为基础薪酬制度？,Alignment of shareholders and employees incentive opportunities统一股东和员工的奖励机会 Forges tighter bond between
5、executives and other employees, as all can be put on a common incentive platform将管理层和其他员工的薪酬制度紧密结合，使公司所有员工的激励机制趋于统一 Motivate broad group of employees to work toward common goalinspires teamwork鼓励广大员工向共同的目标前进 - 鼓励团队协作精神 Incentive payouts are a “win-win” situationpayments occur in direct relation to c
6、ompany performance激励机制处于“双赢” 状况 - 报酬与企业业绩直接挂钩 Minimizes cash outflow, as payments are made in equity由于实施了股权薪酬制度，可以最大限度地减少现金支付,Financial Reasons for Providing Equity-based Pay提供以股权为基础薪酬形式的财务因素,Study by Hewitt Associates and the J.L. Kellogg Graduate School of Management (Northwestern University) (199
7、8):翰威特公司和西北大学J.L. Kellogg研究生管理学院联合进行的调查表明(1998年): Companies that instituted employee ownership programs experienced an average annual Return On Assets of 2.6 percentage points greater than industry averages each year of the 4-year study period对实施了员工持股计划的公司进行跟踪调查的四年当中，其资产回报率比同行业平均水平高出2.6个百分点 Cumulati
8、ve Total Shareholder Return over 4 years also 6.9 percentage points greater than comparison group averages四年中股东回报率要比其他公司高出6.9个百分点 82% of companies reported that ownership program had a significant positive impact on business results有82%的公司认为，员工持股计划会对经营业绩产生积极影响 Significant correlation between compani
9、es reporting positive impact and effective sharing and use of business information分享公司经营信息并加以有效利用与以股权为基础的薪酬计划紧密关联，而这一薪酬计划会对经营业绩产生积极影响,Financial Reasons for Providing Equity-based Pay提供以股权为基础薪酬形式的财务因素,Joseph Blasi 1996 study:Joseph Blasi1996年调查指出: Significantly higher growth in 10-year average financ
10、ial performance where employees own more than 5% market value当员工所持股票超过市值的5%时，企业的财政业绩明显高于此前10年的平均增长水平 Not true where stock concentrated among top 5 officers最高级别的五位管理人员持有全部股票的公司未达到这一增长水平 American Capital Strategies:美国的资本战略: Stock price index of public companies with at least 10% employee ownership out
11、performed broad-based stock indices员工持股占10%以上的上市公司的股指比全员持股公司的股指要好 In 19921995: 80.19% versus 48.69% for the Dow and 44.87% for S60%的企业已经实施了广泛的股票期权计划 42% offer options to every employee; and 42%为所有员工提供股票期权 80% of employees at these companies own company stock这些公司约有80%的员工拥有公司的股票,Long-term Incentive Pl
12、an Design 设计长期奖励计划,Overview概况,What are long-term incentives?什么是长期奖励? “Variable compensation earned over a period of more than 12 months” 12个月以上的可变薪酬 Historically, they have taken many forms:曾在历史上表现出的形式: Nonqualified stock options (“NQSOs”)非资格评定的股票期权(“NQSOs”) Incentive stock options (“ISOs”) (circa 1
13、982)激励性的股票期权(“ISOs”)(大约在1982年) Stock appreciation rights (“SARs”) (circa 1973)股票增值权(“股票增值权”)(大约在1973年) Performance plans (circa 1975)绩效计划(大约在1975年),Overview概况,Restricted stock (circa 1983)受限股票(大约在1983年) Who gets it?什么人得到这种奖励呢? Could be as broad as annual incentives and beyond (e.g., stock options) o
14、r limited to just officers (e.g., performance shares/units)可以象所有员工得到年终奖一样广泛，甚至更多(例如，股票期权)或者只限于主管(例如，绩效股份) Almost all major industrials have some long-term incentive plan几乎在所有的主要产业中，都实行了长期奖励计划,Prevalence普遍性/相关值,Almost all major industrials have some long-term incentive plan几乎在所有的主要产业中，都实行了长期奖励计划 Prev
15、alence:普遍性:,Ordinary Income at Date of Exercise 行权时的一般收入,Purchase price 购买价格,Capital gainat date of sale 出售时的资本利得,Description of Stock Options股票期权,NQSOs非资格评定的股票期权 Stock optionright to buy stock at a fixed price over a specified period of time股票期权 - 在规定的时间段内，以固定价格购买股票的权利,授予日,行权日,出售日,Description of St
16、ock Options股票期权,Eligibility levels资格水平 Average (percentage of exempt) 21.0%平均(专业水平的百分比) 21.0% Median (percentage of exempt) 9.6%中位(专业水平的百分比) 9.6%,Description of Stock Options股票期权,Many companies go much deeper许多公司做得更加深入 “All-employee” option plans“全体员工”的期权计划 Hi-tech, start-ups, IPOs高科技、创业公司、IPOs公司 Recent data suggests that well over 6 million U.S. employees have received stock options (up from 2.5 million in 1992)最新数据显示，现已有超过600万的美国员工持有公司股权(从1992年的250万不断上升
