如何能既控制成本，又留下人？在保證企業現金流的情況下，讓員工與企業更好地融合，從而激活組織、激活員工？但股權激勵從來不是一蹴而就的，也不是一成不變的。因為你的戰略以及企業內外部的客觀環境都在發生變化，所以股權激勵一定會隨之調整適應，實現組織戰略目標。

How can we control costs and keep people? Under the condition of ensuring the cash flow of the enterprise, let employees better integrate with the enterprise, so as to activate the organization and employees? However, equity incentive has never been achieved overnight or invariable. Because your strategy and the objective environment inside and outside the enterprise are changing, the equity incentive will be adjusted to achieve the organizational strategic objectives.

在早期的有限責任公司，于法律允許范圍之內，股權激勵完全是根據自己公司的實際情況做不同的考慮和設定的，所以股權激勵有不同種類的變種。無論大家聽過多少不一樣的股權激勵模式，歸根到底實踐當中運用多的股權激勵模式都離不開“直接持股，期權激勵，限制性股權，虛擬股權”這4種，可能是它們的變形，也可能是它們的搭配組合。

In the early limited liability companies, within the scope permitted by law, equity incentive was completely considered and set according to the actual situation of their own company, so there are different kinds of variants of equity incentive. No matter how many different equity incentive models you have heard, in the final analysis, the four equity incentive models used in practice are inseparable from "direct shareholding, option incentive, restricted equity and virtual equity", which may be their deformation or their combination.

客觀上來講，沒有任何一種激勵模式是好的。在股權激勵模式中，只有適合的，沒有好的，因為每一種都各有利弊，選擇哪種還需要根據企業自身發展情況去做討論。在這里面想特別跟大家分享兩點。

Objectively speaking, no incentive model is good. In the equity incentive model, only suitable, not good, because each has its own advantages and disadvantages. Which one to choose needs to be discussed according to the enterprise's own development. I would like to share two points with you.

①激勵是分層級的，中層以上才需要股權激勵，用福利薪酬完全可以保障基層的基本激勵

① Incentive is hierarchical. Equity incentive is needed only at the middle level and above. The basic incentive at the grass-roots level can be guaranteed by welfare and salary

對于全員持股，我是非常不建議的，尤其是早期創業公司。股權激勵實質是在探索人性，迎合人心，在這樣的一個過程當中，屁股決定腦袋，不要過分拔高普通員工。否則，對員工而言就變成了道德綁架。

I don't recommend full ownership, especially for early start-ups. The essence of equity incentive is to explore human nature and cater to the people. In such a process, the ass decides the head, and don't elevate ordinary employees too much. Otherwise, it will become a moral kidnapping for employees.

正確的做法是，順應員工現階段的位置層級，順應TA的思維模式。我們可以引導他，但是不要逆“勢”而為。中層以上開始做股權激勵，并且跟績效考核相聯動和掛鉤。到了頂層，也就是企業核心高管層，就要打造合伙人機制，以幫助企業打造組織、傳承頂層設計。

The correct approach is to comply with the position level of employees at this stage and the thinking mode of TA. We can guide him, but don't go against the trend. Equity incentive is started above the middle level, which is linked and linked with performance appraisal. At the top level, that is, the core senior management of the enterprise, it is necessary to build a partner mechanism to help the enterprise build the organization and inherit the top-level design.

②在企業不同成長階段，股權激勵要動態調整

② In different growth stages of enterprises, equity incentive should be dynamically adjusted

從我們多年的服務經驗上來講，成長期的企業使用股權激勵是能幫助企業大化達成效果的。

From our many years of service experience, the use of equity incentive in growing enterprises can help enterprises achieve results.

創始人要堅決避免在企業早期放大股權激勵的效果，否則后果不堪設想。因為在早期做股權激勵，客觀現實地說其實就是畫餅。這個餅在很大程度取決于一個“信”字。

Founders should resolutely avoid amplifying the effect of equity incentive in the early stage of the enterprise, otherwise the consequences will be unimaginable. Because in the early stage of equity incentive, objectively and realistically, it is actually a picture cake. This cake depends largely on the word "letter".

也就是說，這個“餅”是一個未來的、不知道能不能成的、不確定性很強的東西，那么員工到底能不能被激發，就取決于員工到底信不信這個“餅”。信，則有效；不信，則無效。

In other words, this "pie" is a future thing with strong uncertainty. Whether employees can be inspired depends on whether employees believe this "pie". Letter is valid; If you don't believe it, it's invalid.

但不得不說的是，處于早期階段的企業，連明天是死是活都不知道，員工如何去信這個“餅”？

But it has to be said that enterprises in the early stage do not even know whether tomorrow will be dead or alive. How can employees believe this "cake"?

到了成熟期，其他所有相關方面的制度模式都受到了很多約束，股權激勵在這時發揮的價值也將非常有限。所以股權激勵真正能夠很好地幫助到的，是那些處于成長期的企業，或是在企業成長期的時候，大概是融資在A輪到B輪的企業。

In the mature period, all other relevant institutional models have been subject to many constraints, and the value of equity incentive will be very limited at this time. Therefore, what equity incentive can really help is those enterprises in the growth period, or enterprises in the growth period, which are probably financing in round a to round B.