As a system design with the main purpose of encouraging employees and retaining talents,ESOP plays a positive role in mobilizing employees'enthusiasm,improving performance level and alleviating fi-nancing pressure.However,there are still many problems in practice,such as negative effects caused by em-ployees'dual identity,insufficient incentive,short duration of ESOP and so on.It is necessary to find im-provement measures based on local situations.Shanxi stock was once a leading enterprise in China's modern fi-nancial industry.As the representative system of Shanxi stock,the personal share system plays an important role in encouraging ticket employees and coordinating labor relations.The personal share system stipulates that the way of taking shares by labor force is similar to the modern employee stock ownership plan,and both aim to motivate employees and retain talents.Therefore,this paper draws lessons from the excellent experi-ence in the implementation of Shanxi stock's personal share system and obtains the enlightenment to break through the dilemma of employee stock ownership plan.These inspirations include:first,implementing dif-ferentiated incentive and unlocking the shares held by employees by stages to improve their long-term perfor-mance;second,establishing harmonious labor relations and enhance employees'organizational viscosity to retain employees;third,professional organizations intervene to replace employee self-discipline with third-party constraints and supervision to reduce the information asymmetry between enterprises and share-holding employees.
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