The Design And Effect Analysis Of Stock Incentives Of Private Express Companies Based On Competitive Strategic Changes Of YTO Express

In the early days,YTO Express focused on a radical market expansion strategy,but after implementing the first equity incentive plan,its market response and incentive turnover rate were far lower than other comparable companies in the industry.In the context of the loss of personnel in the logistics industry,the failure of equity incentives,the pressure reduction of cost reduction and efficiency enhancement,and the differentiated development of express delivery companies,this article cuts in from the perspective of the competitive strategy of YTO Express.First,it analyzes the necessity of equity incentives,and then studies the competition The element design,existing problems and effects of YTO Express' s three equity incentive schemes under the strategy change,so as to put forward relevant suggestions for the equity incentive design of YTO Express under the change of competitive strategy.Through research,it is found that stabilizing talents and reducing costs and increasing efficiency have always been the motives of YTO Express' three equity incentive plans.During the period of aggressive strategy to actively expand the market,stabilizing talents and reducing costs and increasing efficiency were the main motives of YTO first equity incentive plan;during the period when competitive strategies were transformed into cost reduction and efficiency enhancement and service enhancement,cost reduction and efficiency enhancement and Improving services is the main motivation for YTO Express' s second equity incentive plan.Secondly,there are still the following problems in the design of equity incentives:(1)The design of the three equity incentives did not make corresponding changes with the changes in the company's competitive strategy,for example,in order to reduce costs and increase efficiency and improve services for a firm's competitive strategy When focusing on,YTO second and third incentive plans did not provide equity incentives to senior executives other than actual controllers and supervisors,and in the later smart logistics strategy period,YTO third incentive plan did not increase the incentive ratio for core technical personnel;(2)The setting of exercise prices is susceptible to systemic risks,and the annual decline of the company's stock price reduces the expected viable rights gains of the incentive objects;(3)The exercise of restricted stocks with targeted additional issuance,although avoiding direct corporate Expenditure cash flow,but YTO Express' s three equity incentive grant abandonment rate is gradually increasing,and the incentive effect is gradually weakening;(4)Individual performance evaluation indicators need to add binding clauses based on strategic changes to avoid the phenomenon of incentive objects eating big pots.In terms of incentive effects,the cost-effectiveness,talent stability and optimization,and service quality of YTO Express' s three equity incentives are gradually improving,and the market has begun to actively recognize YTO Express' third equity incentive plan.Finally,this article combines YTO strategy,the characteristics of the express delivery industry and competitors in the same industry,and puts forward relevant suggestions for improving the equity incentive plan.