員工獎酬機制之探討及應用-以股權激勵為中心

Abstract

在國際競爭之激烈環境下，「人力資源」乃現代企業發展之核心問題，其可由「選」「訓」「用」「留」等多個層面探討，「選」即是公司之選材理念、招募資格認定等相關問題；「訓」乃員工之培育發展計畫之問題；「用」則為用人理念及方法技巧；「留」為留才、激勵員工等問題。而本文乃以股權獎酬為核心，此涉及「用」與「留」之問題，蓋現今競爭愈發激烈，放眼國際新聞，世界上無處不發生搶人大戰，於此環境下，各企業所須思考之問題有二：首先，在千辛萬苦招募優秀人才進入後，應如何使之心甘情願為公司盡最大努力、發揮其所長？此即「激勵」之問題，其次，他公司無不虎視眈眈等待機會挖角本公司之人才，在此虎視環繞之情形下，應如何提高員工忠誠度，此乃「留住人才」之問題。 由於傳統薪資制度已不符合現代化競爭環境下之需求，為解決此問題，各種獎酬方式逐漸受到重視與探討，有以個人或團體方式為之，給予之獎酬或為現金，或為股票，不一而足，而本研究主要針對個人股票獎酬之方式加以探究，依我國現行法律制度，已有明文之股票獎酬制度主要有「員工新股認購權」、「員工庫藏股」、「員工分紅入股」、「員工認股選擇權」、「限制性股票」等五種。每種獎酬機制有其不同功能及特色。於員工分紅費用化前各家企業多採用員工分紅，然於分紅費用化後，員工分紅不得在認列為「盈餘」而須認列為「費用」，優勢已不復在，故各企業紛紛轉尋其他合適之獎酬工具。 按員工認股選擇權，其特性為員工擁有在一定期間內以特定價格購買公司股票之權利，公司股價愈高，員工可獲得之利益愈大，故能充分將員工與公司利益結合，徹底激勵並留住員工，但若非因員工之因素股價下跌，認股權無執行實益，則無法發揮本獎酬工具之功效；限制性股票剛入法未久，其特色在可設定績效條件，在有具體目標供達成之情形下，更能發揮激勵效果，在現今逐漸轉變之股權獎酬思潮—與績效掛勾中，限制性股票無疑乃最具代表性之獎酬工具。其他如員工持股信託，雖在我國尚未有體系的發展，但觀察美國實務之運作，此制能充分凝聚員工向心力，發揮長期激勵及留住人才之效、緩解勞資衝突，實係一良制，我國宜立法推廣之，以提升企業之競爭力。而究竟企業應採用何種類型之獎酬工具，最能發揮留住人才及激勵效果，則應視企業特色，不能一概而論。

Under the fierce international competition, “Human resource” is the core issue of modern enterprises during their development, which can be discussed from the aspects of “recruit”, “training”, “use of talents” and “retention”. My topic involves in “use of talents” and “retention”. When reading the international news, we may note so many talented people of companies are poached by their oppositions every day that companies should think about how to retain talented people and how to reward them. Due to the fierce of modern competition, employees would not be satisfied with traditional compensation, so various kinds of rewards have been discussed and noticed. My topic will study on personal stock rewards. Under current law system, we have already had the preemptive right, treasury stock, profit-sharing plans, employee stock option and restricted stock, each of which has its own functions and features. Companies should consider their respective condition and employees’ requirements to make a sound and perfect rewards policy. The typical stock reward is stock option, the feature of which is to give employees an incentive to encourage them to work hard in ways that will boost the company's stock price. If the company's stock market price rises above the call price, the employee could exercise the option, pay the exercise price and would be issued with ordinary shares of the company. Restricted stock is also used commonly. It can set every kind of conditions to incent employees. Restricted stock was passed by Legislative Yuan in Taiwan in 2011, but there are still something we can improve. Employee stock ownership plan is also very popular, it can make most of employees become shareholders and adequately combine the benefits of employees and companies. I would recommend that Taiwan legislate it to enhance competitiveness of companies.