| dc.description.abstract | In Taiwan, there was a deregulation for the tourism industry in 1988. Applications for travel agency license that have long been suspended was lifted, and a new category, namely, consolidated travel agencies, was established. This resulted a rapid growth in the tourism industry, and many large scale agencies capable of handling complicated cases started to be founded. Hence, the critical problem faced by travel agents talent retaining, coping with personnel turnover, rather than financial.
This study proposes a plan to deal with the problem of staff turnover for Company F, not only to resolve the current problem, but also to fuel future business expansion. The study started out with the perspectives of motivation, placement, and spin-offs policy. The proposal covers the use of rewards, incentives, share option and allotment, to meet the various needs of current employees, as well as to attract high potential talents to join the enterprise. A reorganization of the enterprise through spin-off becomes a core to facilitate the distribution of shares.
While the book value of equity for Company F is merely one thousand eight hundred million, it owns real estates eight times of the book value. As such, any distribution of share will amount to an insignificant portion of the company, and will not be attractive for staffs to subscribe shares. Therefore, by the establishment of a subsidiary via spinning-off, the travel-related operations, to separate from the real estates, the new business entity spun off will start out with a much lower equity of eight million. In line with employee participation program, employees will become the shareholders of the new company. | en_US |