一、企业经营管理不善

1、 Poor management of enterprises

一个企业如果账目上全是亏损，经营方向出现问题，管理僵化，那么这个企业根本就没有任何发展的前途。股权激励激励的是股权，不是钱，换而言之，是拿企业的未来和员工进行一场决定。企业只有具有一定的潜力，员工才愿意和企业共同奋斗，但企业经营状况极差，员工对企业的发展不抱有任何信心，自然不愿意进行一场注定失败的决定。

If the accounts of an enterprise are full of losses, problems in the direction of operation and rigid management, then the enterprise has no future for development. Equity incentive is equity, not money. In other words, it is a gamble on the future of the enterprise and employees. Only when the enterprise has a certain potential, the employees are willing to work with the enterprise. However, the business situation of the enterprise is very poor, and the employees do not have any confidence in the development of the enterprise, so they are not willing to make a decision doomed to failure.

二、劳资问题积重难返

2、 Labor and capital problems are hard to return

如果公司长期存在严重的劳资问题时，建议企业暂且不要做股权激励，股权激励的一个基础就是员工对公司信任度很高，愿意与公司携手走下去。但是，劳资问题体现的是员工与公司之间的对立。

If the company has serious labor and capital problems for a long time, it is suggested that enterprises should not do equity incentive temporarily. One of the basis of equity incentive is that employees have a high degree of trust in the company and are willing to go hand in hand with the company. However, the problem of labor and capital reflects the opposition between employees and the company.

因此，对于劳资矛盾突出的企业，应当优先改 革薪酬体系，重建员工对企业的信任，才能进一步实施股权激励计划。

Therefore, for the enterprises with prominent labor capital conflicts, we should give priority to reforming the salary system and rebuilding the employees' trust in the enterprises, so as to further implement the equity incentive plan.

三、家族企业

3、 Family business

家族企业顾名思义就是企业管理层都是家族内部人员，这种企业本身就具有一般企业不具备的凝聚力，一般也不吸收外来人员进入管理层。因此，家族企业做股权激励相当于把左边篮子的鸡蛋放到右边篮子，放来放去始终是自己家的，没有任何变化。

As the name suggests, the management of a family business is the internal staff of the family. This kind of business itself has the cohesion that ordinary enterprises do not have, and generally does not absorb foreign personnel into the management. Therefore, the family business to do equity incentive is equivalent to putting the eggs in the left basket into the right basket, which is always their own, without any change.

四、缺乏企业文化的企业

4、 Enterprises lacking corporate culture

中国企业可以分为三 级：三等企业做服务，二等企业做产品，一等企业做文化。

Chinese enterprises can be divided into three levels: the third-class enterprises do services, the second-class enterprises do products, and the first-class enterprises do culture.

企业实施股权激励，更多的是将一群志同道合的人聚 集在一起，集中力量办大事，给予员工股份也不仅仅是为了留住人才，更是引导员工认同并完善企业文化，有理想、有目标、富有使命感、荣誉感与归属感。没有企业文化的企业，即使实行了股权激励，也只是用物质利益将人才留住，等过了3至5年的行权期，人才仍然可能会走。相反的是，拥有企业文化的企业才能真 正吸引人才，这样的企业实行股权激励才能达到好的效果

The implementation of equity incentive in enterprises is to gather a group of like-minded people together to focus on major events. Giving employees shares is not only to retain talents, but also to guide employees to identify and improve corporate culture, with ideals, goals, mission, honor and belonging. Enterprises without corporate culture, even if equity incentive is implemented, only retain talents with material benefits. After three to five years of exercise, talents may still go. On the contrary, enterprises with corporate culture can really attract talents, and the implementation of equity incentive can achieve good results