我国企业结构调整过程中的人员激励管理

Click to edit Master title style,Click to edit Master text styles,Second level,Third level,Fourth level,Fifth level,People aspects of structural change in the Peoples Republic of China,June 21, 20012001年6月21日,中国进行企业结构调整过程中的人员与激励管理,Thebusinessofbusinessisbusiness,企业重,在,在经营,-,MiltonFriedman,Togetrichisglorious,发展才,是,是硬道,理,理,-,Deng XiaoPing,邓小平,Thegreatobject of thepoliticaleconomyofeverycountry,istoincreasetheriches andpowerofthat country.,各国政,治,治经济,体,体制的,宗,宗旨在,于,于增,加,加该国,的,的财富,与,与实力,。,。,-,Adam Smith,Agenda,议,议程,Globaloverviewofprivatizationlessons,全球,企,企业,市,市场,化,化经,验,验概,述,述,Roleofgovernmentintransition,政府,部,部门,在,在过,渡,渡过,程,程中,所,所发,挥,挥的,作,作用,ExecutivesandLeadership,对高,层,层经,理,理与,领,领导,者,者的,激,激励,与,与约,束,束机,制,制,Long-termIncentivespre-listing,公司,上,上市,前,前的,长,长期,奖,奖励,CompensationData,薪酬,数,数据,Whatdoesitalltellus?,结论,Lessonsfromoverseas,来,来自,海,海外,的,的经,验,验,US:,美国,：,：,theworldsmostadvanced,competitiveeconomy-mosteconomicfreedom,全球,最,最发,达,达、,最,最富,竞,竞争,力,力的,经,经济,体,体制,：,：经,济,济自,由,由度,最,最大,virtuallynoexperiencewithprivatization,实际上缺,乏,乏企业股,份,份化经验,Japan:,日本：,culturally,themostsimilaradvanced economy toJapan,butstalledin the modern economy. New hopefrommarketreforms,从文化的,维,维度而言,，,，最类似,于,于日本的,发,发达经济,，,，但日本,目,目前处于,停,停滞不前,的,的状态。,市,市场变革,带,带来新的,希,希望,Lessonsfromoverseas来自,海,海外的经,验,验,WesternEurope:,西欧：,Privatization everywhere, led byUK,在英国的,带,带动下，,各,各地都在,进,进行股份,化,化,Different traditionregarding employment,截然不同,的,的人员聘,用,用传统,If you create monopolies, not much changes,若进行垄,断,断，不会,出,出现过多,的,的变革,Competitioncreateswealth,竞争创造,财,财富,Needtobreak upoldindustriesto create competition,需要打破,原,原有的行,业,业格局，,促,促进竞争,Workforces reduced,butsocietyricher,人员减少,，,，但社会,更,更加富足,Privatization Transition,股,股份化,过,过渡,Different models:,不同的模,式,式：,Partialprivatization,部分股份,化,化,Fullsale,全部出售,listing,上市,auction(smallercompanies),拍卖(较,小,小型的公,司,司),Giving awayassets to individuals, eg, CzechRepublic, Singapore,向个人赠,送,送资产，,例,例如：捷,克,克共和国,、,、新加坡,Privatization Transition- UK Water,股,股份化过,渡,渡 -UK Water,Longestmostrecentexperience (15+yrs),最长、最,新,新的经验(15年,以,以上),Graduallistingsformany companies,许多公司,逐,逐步上市,previousmanagersputincharge,原有的,经,经理负,责,责进行,管,管理,carefullyregulated markets,仔细进,行,行市场,规,规约,initial compensationincreasefollowedbymove to marketpay,遵照市,场,场行情,来,来提供,最,最初的,加,加薪,Few,“,“goldenshares,”,” (BP,VSEL),极少“黄金,股,股票”(BP，VSEL),Privatization Transition- UKWater,股,股份化过,渡,渡 - UK Water,Problems with several industries,许多行业所,面,面临的问题,regulatedmonopolies,规约,垄断,higher payforexecutives, butlittle behaviour changelowerdown,高层经理薪,酬,酬水准提高,，,，但行为变,革,革幅度却有,所,所下降,competition iskey,竞争是关键,electric/waterindustriesbeing re-organizedfor capital reasons:separating supply from distribution,鉴于资本方,面,面的原因，,对,对电力/水,力,力行业进行,调,调整：供应,与,与配送分离,Privatization Transition- UKWater,股,股份化过,渡,渡 - UK Water,Originallysingle operation, run regionally,最初为单一,型,型地区运营,Employed 100,000,员工总数达10万人,Controlledsupply, distribution, customer interface, sewerage disposal,控制供应、,配,配送、客户,关,关系及污水,处,处理部门,Regional authoritiesprivatized, but remainedmonopolies.,地区权限市,场,场化，但仍,存,存在垄断,Somecompaniesbought byforeigners,某些公司为,外,外资所收购,Privatization Transition- UKWater,股,股份化过,渡,渡 - UK Water,Governmentbody(OFWAT) set upto regulate, make standards,guaranteeprices, etc,通过设立,政府机构(,OFWAT),来进行调控,、,、制定标准,和,和稳定价格,等,等工作,Watercompaniesoperatedbetter, but nosubstantial change,because monopolies stillexistedWater,公司运作情,况,况有所好转,，,，但因仍存,在,在着垄断，,并,并未出现实,质,质性的变化,Government-sponsoredrestructuringwillleavesupply separate from distribution,separatefrombillings,政府部门所,发,发起的企业,结,结构调整工,作,作将导致供,应,应与配送、,核,核算部门分,离,离,Privatization Transition- UKWater,股,股份化过,渡,渡 - UK Water,Supply companies will supply only,供应公司将,仅,仅仅供应,better capitalstructure,优化资本结,构,构,limits monopoly,限制垄断,Distribution and customerinterface,配送与客户,关,关系部门,Contracted- open tocompetition,商定 -,公,公开竞争,Now 40,000employeesandfalling,现有40,000名员,工,工，并正在,有,有所下降,Consumers,producersandgovernmenthappy,客户、生产,方,方和政府均,比,比较满意,Chinais the samebut China isdifferent!,中国亦如此,但有其独,特,特之处！,Somedifferences with US:,与美国所存,在,在的一些差,异,异 - 以,下,下是美国市,场,场所表现的,特,特点：,Veryfluid, competitive labormarket,充满活力、,富,富有竞争力,的,的人才市场,Highly educated, confident workforce,高学历、充,满,满自信的人,才,才队伍,Workis acontract between equals,在平等的基,础,础上签署工,作,作合同,Verylow unionization,很少进行联,合,合,Few government-ownedenterprises,极少存在国,有,有企业,Traditionof wide stock ownership for investment,广义的股票,投,投资所有权,传,传统,Strong tradition forruleof law,良好的法律,传,传统,Happinesswithmix of market and government regulation,乐于将市场,与,与政府规章,相,相匹配,The real issueis change,真,真正的问题,源,源于变革,Minorchange,细微变革,Feelseasy,感觉容易,Retains govt control,保留政府控,制,制,Low pricesforassets,资产价格较,低,低,MajorChange,重大变革,Difficult,艰难,Losesgovt control,失去政府控,制,制,High prices,代价较高,How far, and how fast?,跨度？速度？,Lessonlearnedin theUS来自美,国,国的经验,Three conditions foreffective markets:,有效的市场所需,具,具备的三个条件,：,：,information oncompanies andmarkets freely available,公司和市场自由,运,运作方面的信息,liquidity - ability to buy and selleasily,流通性 - 能,够,够比较容易地进,行,行购买和出售,one setof rules forall,一套通用的规则,treat everyonethe same,一视同仁,minimize discretion,最大限度地减少,区,区别,The Talent Solution人,才,才解决方案,Improving Business Results,throughPeople,通过人员来改善,经,经营结果.,Business,Results,经营结果,Business,Strategy,经营战略,People,Requirements,人员要求,Employee,Needs,员工需求,PeoplePractices, Policies,Programs,人员方案、政,策,策、计划,Balanced,Measurement,均衡评估法,Successful private sector companiesmanagefor value,成功的私营公司,的,的价值管理模式,Business,Process,经营程序,People/HR Strategy,人员/人力资源,战,战略,Employment Relationship,聘用关系,The Talent Solution人,才,才解决方案,Every companyis different因,公,公司而异,The Talent Solution人,才,才解决方案,Are they creatingthe right environmentwhere the right people wantto come, stay,and contribute?,他们是否正在营,造,造恰当的工作环境，以便吸引恰当,的,的人才加盟、留用并作,出,出积极贡献？,Can theypoint to progress andresultsfrom working on theseissues?,他们能否通过解,决,决这些问题来取得进步并实现,预,预期结果？,Businesses inall sectors face thesame issues,各行各业面临着,同,同样的问题,Do theyhave theright peopledoing theright thingsto meettheirgoals?,为实现目标，他,们,们是否任命恰当的人员来完成恰当的工作？,The Talent Solution人,才,才解决方案,People,Management,人员管理,Staffing(the right people),人员配置(恰,当,当的人员),Organizing(the right roles),组织(,合理的角色及职,责,责分,),Developing(the right skills),发展(恰当的,技,技能),Performing(the right outcomes),绩效管理(合,理,理的结果),Rewarding(therightincentives),全面薪酬(合,理,理的回报),People,Practices, Policies,Programs,人员,方案,、政策、计划,A closer lookat howpeoplecreatevalue in a business,近观人员为企业,创,创造价值的模式,Organizing组织,Structure is aconsequence of strategy,组织结构即是战,略,略成果,Board of Directors,董事会,Representationof ALLshareholders,代表所有股东,Oversight of management,监督管理人员,Committee system,委员会系统,Management,管理层,Strategy and execution,战略与实施,Outsourcing,外包,Staffing人员配置,What kinds ofpeople?,人员类型？,Selection,选用,Competencymanagement,胜任,能,能力,管,管理,Hiring,聘用,BehavioralEventInterviewing,行为,表,表现,面,面谈,Staffing,人,人,员,员配,置,置,BoardsofDirectors,董事,会,会成,员,员,whatkindsofpeople?,人员,类,类型,？,？,understandbusinessstrategy,理解,经,经营,战,战略,connectionstootherindustries,experience,与其,它,它行,业,业相,关,关、,经,经验,carefuloverrepresentationofaparticulargroup,谨慎,代,代表,某,某个,特,特定,的,的小,组,组,Staffing人,员,员配置,Management,管理,Big decision -willset the stage for years to come,重大决策- 为将来,奠,奠定基础,Are todays incumbents the right people?,当前的任职,者,者是否称职,？,？,Managers need to beableto take decisions,经理们需要,具,具备相应的,决,决策力,Mustbe free from short-term governmentinterference, but must lose job securityas acadre,必须免受政,府,府的短期干,预,预，但管理,者,者失去工作,保,保障,Performing,绩,绩效管理,Common understanding,of organizational goals and priorities,针对组织目标与重点达成共识,Where are we going?,我们有何目标？,Clear expectations,for individual and group contributions,明确对个人和小组贡献的期望,What part do I play?,我需要发挥什么作用？,Capability,built through feedback and learning,通过反馈和学习来培养能力,How do we gain commitment from employees?,我们如何获取员工承诺？,Commitment,based on meaningful work and rewards,基于合理的工作任务与薪酬基础之上的承诺,What will it take?,需要哪些投入？,Source: 1994-6research by Hewitt Associates,出自：翰,威,威特咨询,有,有限公司1994-1996年度调,查,查结果。,Developing发,展,展,Keyforallbusinesses,对所有企,业,业而言至,关,关重要,FitsChinesecultureanddesires,适合于中,国,国文化和,期,期望,Currentskill levelsforoperation in amarket are low,现有的运,营,营技能在,市,市场中处,于,于偏低水,准,准,Capitalism “101”fordirectors and managers,针对,总监和经,理,理们的“101”,资,资本主义,制,制度,Differing needsforeachenterprise,各企业的,不,不同需求,Rewarding全面,薪,薪酬,Doescompensation motivate people?,薪酬能否,激,激励员工,？,？,Needs careful design,需要进行,仔,仔细设计,Alignment with strategyis crucial,关键在于,遵,遵照公司,战,战略,“,Yougetwhatyoupayfor,”,”,您已取得,应,应有绩效,Nextpages showsomethoughts onstock options,long-term incentivespre-IPOandsome marketdata for executives,.,下文中将,介,介绍有关,股,股权激励,及,及公司上,市,市前高层,经,经理长期,奖,奖励的一,些,些观点和,市,市场数据,.,Stock Options -Conditions for success,有效实施,股,股权激励,所,所必须具,备,备的条件：,Mustbe:,strong corporategovernanceframework,完善的公,司,司治理结,构,构,clear taxation system,健全的税,收,收体系和,制,制度,clear rulesforwhethercompanies can use Treasury stockormustbuystock,有关股票,来,来源问题,有,有明确的,规,规定(公,司,司可利用,库,库存股票,或,或回购股,票,票),Stock Options -Conditions for success,有效实施,股,股权激励,所,所必须具,备,备的条件：,Thegovernment roleis low and decisionsmustbe left to the market,政府只,做它应该,做,做的事，,决,决定权交,给,给市场,Publicity for investors,完善的信,息,息披露,Rules against insider trading,有关内部,交,交易的制,约,约机制,Long-term incentives- pre-listing长,期,期奖励- 上市,前,前,Pre-listing- usually nostock on whichto offeroptions,上市前- 通常,没,没有可以,提,提供期权,的,的股票,Three otherchoices:,其它三种,选,选择：,cashplan -absoluteperformance,现金计划- 绝,对,对绩效,cashplan -relativeperformance,现金计划- 相,对,对绩效,phantomstock plan,虚拟股票,计,计划,Long-term incentives- pre-listing长,期,期奖励- 上市,前,前,Cashplan -absoluteperformance,现金计划,：,：绝对绩,效,效,Simplestsolution: decide upon key goal(s) and reward managementforachieving it/them -2 or 3yearplan,最简单的,方,方案：确,定,定以关键,经,经营目标,的,的实现为,基,基点的薪,酬,酬管理方,案,案 -2/3年,激,激励计划,Difficulty is goal-setting process,becausegoals may appeareasy/toughin retrospect,目标设定,程,程序较难,，,，因为在,期,期末审核,时,时，目标,或,或许似乎,较,较容易/,艰,艰难,Needs judgement- function of Board,需要加以,判,判断 -,是,是董事,会,会的职能,Long-term incentives - pre-listing长,期,期奖励 -,上,上市前,Cash-plan -relative performance现金计,划,划：相对绩效,Measures most often used: Total Shareholder Return, growth,Returnon Equity最,常,常见的评估标,准,准：总体股东,投,投资回报、增,长,长、股权收益,Only works for public companies where publisheddata is reliable仅,适,适用于那些公,布,布可靠数据的,非,非上市公司,Long-term incentives - pre-listing长,期,期奖励 -,上,上市前,Phantom Stock Plan,虚拟股票计划,(1),Assumecompany divided into stock,假设公司实行,股,股份制,Divideearnings by# stock units = EPS,营业收益除以,股,股票单位数量=每股收益,Multiply EPSby market P/E ratio = stock price,用市盈率(P/E) 乘以,每,每,股收益=,股票价格,(2),Have the company valuedby anindependentfirm,由一家独立的,机,机构,来对该公司进,行,行估价,Long-term incentives - pre-listing长,期,期奖励 -,上,上市前,Compensationinfluencesmanagement behavior,薪酬影响管理,行,行为,Does the plan needto bechanged during the termbecause thesituation has changed?,在计划执行期,间,间，若情况发,生,生了变化，我,们,们是否需要对,该,该计划加以修,改,改？,Will management “game” the system and actin itsown interest to the detrimentof the company?,管理人员是否,将,将运用该系统,来,来谋私利、损,害,害公司利益？,Theseare questions thatrequire a Board,这些问题需要,由,由董事会来进,行,行监控,Compensation data薪酬,数,数据,Compensation data for 2000 taken from Hewittdatabasesin US, Europe and Japan,摘自翰威特,咨,咨询公司设,在,在美国、欧,洲,洲和日本的,数,数据库中的2000年,度,度薪酬数据,several countries combined forEurope,欧洲许多国,家,家的综合数,据,据,foursizesof company inUS,四种规模的,美,美国公司,stockoptions valuedusing Black-Scholesmethodology,运用,Black-Scholes,方法所估价,的,的股票期权,Benefits and perquisitesvalued asannual equivalents,对福利与特,殊,殊津贴进行,年,年度定价,Compensation data -US薪酬,数,数据 -,美,美国,CompaniesGreater than 10Billion,规模100,亿美元以上,的,的公司,Top Executives,高层经理,17%,11%,6%,65%,1%,Base Salary,基本工资,Bonus,奖金,Benefits,福利,LTI,长期奖励,Perks,特殊津贴,Total: US$2,675k,总计：2675K美元,Compensation data -US薪酬,数,数据 -,美,美国,CompaniesGreater than 10Billion,规模在100亿美元以,上,上的公司,Senior Management Positions,高层管理人,员,员,34%,12%,10%,43%,1%,Total: US$548k,总计：,548K,美元,Base Salary,基本工资,Bonus,奖金,Benefits,福利,LTI,长期奖励,Perks,特殊津贴,Compensation data -US薪酬,数,数据 -,美,美国,CompaniesGreater than 10Billion,规模在100亿美元以,上,上的公司,Middle Management Positions,中层管理人,员,员,51%,10%,11%,27%,1%,Total: US$229k,总计：,229,K美元,Base Salary,基本工资,Bonus,奖金,Benefits,福利,LTI,长期奖励,Perks,特殊津贴,Compensation data -US薪酬,数,数据 -,美,美国,CompaniesGreater than 10Billion,规模在100亿美元以,上,上的公司,Professional Positions,专业人员,72%,5%,17%,6%,0%,Total: US$81k,总计：,81K,美元,Base Salary,基本工资,Bonus,奖金,Benefits,福利,LTI,长期奖励,Perks,特殊津贴,Compensation data -Europe薪酬数,据,据 - 欧,洲,洲,Top Executives,高层经理,49%,13%,11%,18%,9%,Base Salary,基本工资,Bonus,奖金,Benefits,福利,LTI,长期奖励,Perks,特殊津贴,Compensation data -Europe薪酬数,据,据 - 欧,洲,洲,Senior Management,高层管理人,员,员,58%,11%,10%,10%,11%,Base Salary,基本工资,Bonus,奖金,Benefits,福利,LTI,长期奖励,Perks,特殊津贴,Compensation data -Europe薪酬数,据,据 - 欧,洲,洲,Middle Management,中层管理人,员,员,68%,6%,10%,3%,13%,Base Salary,基本工资,Bonus,奖金,Benefits,福利,LTI,长期奖励,Perks,特殊津贴,Compensation data -Europe薪酬数,据,据,Professional Positions,专业人员,75%,5%,9%,1%,10%,Base Salary,基本工资,Bonus,奖金,Benefits,福利,LTI,长期奖励,Perks,特殊津贴,Compensation data -Japanallindustry薪,酬,酬数据 -,日,日本所有,行,行业,Top Executives,高层经理,64%,31%,3%,2%,Base Salary,基本工资,Bonus,奖金,Benefits,福利,LTI,长期奖励,Perks,特殊津贴,Compensation data -JapanHi-tech薪,酬,酬数据 -,日,日本高科,技,技行业,Top Executives,高层经理,70%,13%,2%,15%,Base Salary,基本工资,Bonus,奖金,Benefits,福利,LTI,长期奖励,Perks,特殊津贴,Compensation data -Japanallindustry薪,酬,酬数据 -,日,日本所有,行,行业,SeniorManagers,高,层,层,管,管,理,理,人,人,员,员,64%,25%,11%,0%,Base Salary,基本工资,Bonus,奖金,Benefits,福利,LTI,长期奖励,Perks,特殊津贴,Compensationdata-Japanallindustry,薪,薪,酬,酬,数,数,据,据-,日,日,本,本,所,所,有,有,行,行,业,业,MiddleManagers,中,层,层,管,管,理,理,人,人,员,员,57%,26%,17%,0%,Base Salary,基本工资,Bonus,奖金,Benefits,福利,LTI,长期奖励,Perks,特殊津贴,Compensationdata-Japanallindustry,薪,薪,酬,酬,数,数,据,据-,日,日,本,本,所,所,有,有,行,行,业,业,ProfessionalPositions,专,业,业,人,人,员,员,67%,25%,8%,0%,Base Salary,基本工资,Bonus,奖金,Benefits,福利,LTI,长期奖励,Perks,特殊津贴,Basicsalarydifferences-US$,基,基,本,本,工,工,资,资,差,差,异,异-,美,美,元,元,0,50000,100000,150000,200000,250000,300000,350000,400000,450000,500000,$10,bn,100,亿美元以上,$5,bn,50,亿美元以上,$2.5,bn,25,亿美元以上,$1,bn,10,亿美元以上,$10,bn,100,亿美元以上,$5,bn,50,亿美元以上,$2.5,bn,25,亿美元以上,$1,bn,10,亿美元以上,$1,bn,10,亿美元以下,Compensationdata- Learnings,薪,薪酬数,据,据 -,结,结论,Markets aremessy!,市场数,据,据不规,范,范！,Hasanyone gotitright?No!,是否有,任,任何人,得,得出正,确,确答案,？,？没有,！,！,Americansconcerned at governanceand issuesover executivepay,美国,关,关注,高,高层,经,经理,薪,薪酬,的,的管,理,理和,相,相关,问,问题,Japaneseeconomystalled,becauseneededchangecannotoccur,日本,经,经济,停,停滞,不,不前,，,，因,为,为尚,未,未进,行,行必,要,要的,变,变革,EgalitarianisminEurope,欧洲,的,的平,等,等主,义,义,Summary,总结,Finance,财务,Technology,技术,People,人员,Theonlylong-termsustainablecompetitiveadvantageisfrompeople,唯一,的,的长,期,期性,、,、持,久,久性,竞,竞争,优,优势,在,在于,“,“人,”,”,