Study On The Effectiveness Of YYLZ Employee Stock Ownership Plan

As the mainstay of the national economy.the development of state-owned enterprises has attracted much attention from all walks of life.However,due to the complexity of management levels,the large number of staff and staff,and the lack of effective incentives,enterprises have a rigid atmosphere,brain drain and even operating losses.As a long-term welfare,employee stock ownership plan has been put forward with the function of incentive and supervision.It realizes that the interests of employees and shareholders are in line.It can fully improve the productivity of employees and improve the performance of enterprises.The early employee stock ownership plan in China had many problems because of the lack of legal guidance.In order to standardize the company's employee stock ownership system,the SFC issued the Guidance Opinions on the pilot implementation of employee stock ownership plan by listed companies.Since then,many enterprises have implemented employee stock ownership plans,Yueyang Lin Paper is one of them.As the only central enterprise in paper industry,Yueyang Lin Paper has the premise of implementing employee stock ownership plan,considering both the external environment of the industry and its own development.This paper expounds the various aspects of the company's implementation of the employee stock ownership plan from the perspective of theoretical analysis,and then gives a detailed introduction to the key projects of program design and implementation.By analyzing the existing effects of the case company's employee stock ownership plan and combining the specific content of the shareholding plan.it is found that the plan has few participants and low shareholding ratio,the plan and salary assessment system are out of line,the source of funds is single,and the existence is short-term.Problems such as hidden dangers of welfare.In this regard,YYLZ first needs to improve the planned and sustainable development of employee stock ownership;secondly,appropriately expand the proportion of the plan in the company's share capital structure;again determine the target participants and the number of shares they hold based on the salary assessment system,and set up an incentive fund increase plan.The source of funds enables the company to share the amount of capital contributed by some employees;finally,the uniform unlock mode is set to link the unlocking conditions with corporate performance and personal assessment.This paper aims to provide optimization suggestions for the problems arising in the design and implementation of the YYLZ employee stock ownership plan,to achieve the purpose of giving full play to its incentive benefits,and to provide experience reference for other companies in the same industry to implement the employee stock ownership plan.