激励探索后的破局：腾发的共享制股权之道Breaking Through After Incentive Exploration: Tengfa’s Path of Shared Equity

作者：魏峰 (Wei Feng)、刘若晨 (Liu Ruochen)、孙菁 (Sun Jing)、徐明 (Xu Ming)、程国萍(Cheng Guoping)

案例名称：激励探索后的破局：腾发的共享制股权之道Breaking Through After Incentive Exploration: Tengfa’s Pathof Shared Equity

案例库：中国工商管理国际案例库

入库时间:  2025.07.03

春节又要到了。公司外,街道两旁挂了商店橱窗中摆满了年货和新年礼品，到处溢着迎接新年的欢乐气氛。公司内，张晨坐在办公桌前眉头紧锁。他面前堆满了各种文件和报表，部门的工作事项还有很多经营结算、项目收款、部门考核、岗位考核……张晨担任部门总经理十年了，他清楚地知道有一件更重要的事情等着他去处理：职工最关心的还是年终奖金，但其中至少一半的人却觉得自己的奖金发少了。他起身站在落地窗前，叹了一口气。过去几年，部门在人才激励方面做出的尝试，一幕幕浮现在他的脑海中……

The Spring Festival is coming again. Outside the company, shop Windows are hung onboth sides of the street, filled with New Year goods and gifts. Everywhere is brimming withthe joyous atmosphere of welcoming the New Year. Inside the company, Zhang Chen sat athis desk with a frown on his face. In front of him were piles of various documents and reports. There were still many tasks for the department, such as business settlement, project collection, departmental assessment, and job assessment… Zhang Chen has served as the generalmanager of the department for ten years. He clearly knows that there is a more important matter waiting for him to handle: the year-end bonus is still what the employees care about most,but at least half of them feel that their bonus is too little. He got up and stood by the floor-toceiling window, sighing. Over the past few years, the attempts made by the department interms of talent incentives have been flashing through his mind one after another..