中国进行企业结构调整过程中的人员与激励管理(51页).ppt

What does this data tell us? That big companies have bigger jobs that pay more Differentials are larger at larger companies, but maybe that’s a function of the limited talent market for very good people. That the lower the level of the job, the more there is a single market rate for the job independent of company size What does this data tell us? That in the world’s most successful free market, incentives are the engine for success That in a free market, compensation levels for successful companies can be VERY BIG! That differnetials for successful executives can be VERY BIG Remember again that we are looking at averages across all companies in one very large country. There is considerable variation. Note that we combined CEOs and top execs. CEO pay is incredibly variable and dependent upon meeting of individual company objectives So China has some elements of the same situation as Europe, US and Japan It has some of the same desires, but the list of differences is big too Whatever solution China adopts will need to be relevant for China, and not a copy of something done elsewhere. Minor change might mean inviting investors into SOEs as they stand today It will feel easy, but people will be hesitant to invest Price paid for the shareholding will be low The government does not want big SOEs to fail. Fine, but we all know that they cannot go on as they are. WTO Entry will change everything To create real wealth, serious change needs to happen I believe the government needs to “let SOEs go” to restructure themselves, slim down their surplus workers, change their working practices, and succeed. It will take real leadership. The greater the change, the more people need to see the leadership, hear it honor the past, explain that change needs to happen, that it will be painful for many, but it will benefit everyone in the end. The good news is that the more change happens, the more assets will be worth, and the easier it will be for the government to afford to