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Ren Zhengfei: Huawei's virtual stock reform

2022-06-27 11:29:18Reading notes

Biography of Ren Zhengfei , Huawei's virtual stock reform . In fact, this is equity incentive , Link salaries and performance rewards to employees' responsibilities and contributions , Besides , Ren Zhengfei also advocates elimination at the end , He believes that a small number of people should be eliminated , To achieve a large part , Even the whole . He wants to abolish 5% Backward elements , Let all employees work hard . Ren Zhengfei's post reading experience and Ren Zhengfei's reading notes Summarized below .

  1. 《 Biography of Ren Zhengfei 》: The first half of my life was so miserable !
  2. 《 Biography of Ren Zhengfei 》: The great Huawei ! Start by selling diet pills
  3. 《 Biography of Ren Zhengfei 》: Fight hard in Yiwu ! Moving with affection
  4. 《 Biography of Ren Zhengfei 》: Huawei's self revolution ! Benefit from management
  5. 《 Biography of Ren Zhengfei 》: To defend against a strong enemy ! Civil war wolves
  6. 《 Biography of Ren Zhengfei 》: The southern expedition to Hong Kong ! North into Russia
  7. 《 Biography of Ren Zhengfei 》: Counter attack on Europe ! Counterattack against the United States
  8. 《 Biography of Ren Zhengfei 》: It's a blessing, not a curse , It's a disaster that can't be avoided
  9. 《 Biography of Ren Zhengfei 》: The litigation of the century A plodder
  10. 《 Biography of Ren Zhengfei 》: Huawei's virtual stock reform
  11. 《 Biography of Ren Zhengfei 》: talent strategy , Catfish effect
  12. 《 Biography of Ren Zhengfei 》: Positive layout , Fight against the future

 Biography of Ren Zhengfei

Today we continue to talk about this book , Biography of Ren Zhengfei , Yesterday, we talked about the reform of virtual restricted shares . In fact, this is equity incentive , Link salaries and performance rewards to employees' responsibilities and contributions , Besides , Ren Zhengfei also advocates elimination at the end , He believes that a small number of people should be eliminated , To achieve a large part , Even the whole . He wants to abolish 5% Backward elements , Let all employees work hard .

Huawei is powerful , Can not be listed for financing , Because of his drastic reform in the equity system .90 years , Huawei has started to work in this field , This is regarded as the most important part of the modern enterprise system . The system of employee stock ownership comes from the West , Common employee stock ownership is 50% above , In Japanese enterprises, everyone holds shares , Although everyone has very few shares , But it has raised everyone's awareness of the protagonist .

Huawei began to implement the most basic equity pricing shortly after its establishment ,1 element 1 stocks , Encourage employees to buy shares . It is precisely because of this internal financing , Only then did Huawei extricate itself from the economic difficulties of earlier years , Through the market crisis . As Huawei's assets grow , Those internal employees who invested in Huawei in the early stage also gained benefits . Later, Huawei even set up a new holding subsidiary with major telecom administrations , Huawei Electric Co , The purpose is to have a good relationship with these customers , A lot of things can not be too obvious . So there is this company , It bypasses many thorny problems . However, Huawei also encountered some new problems , For example, some meritorious officials began the equity dispute , For example, Li Yinan was a capable general at that time , Liu Ping, who made outstanding contributions to the study of the ten thousand gate machine ,2003 In, Liu Ping took Huawei to court , It turned out that he had been the director and general manager of Beijing Research Institute , But his ambition began to stir ,2002 He left Huawei in , Ren Zhengfei put his 354 Million shares , To exchange for 354 Thousands of yuan , Give it to him at one time . But this irritated him .

before this , Huawei electric was acquired by Emerson Electric for its non core business , Huawei electric changed its name to Shengan electric . And in the process of clearing the equity , Employees are asking for more equity , to offer 1:7, After the final discussion, it was changed to 1:4, That is to say, Huawei electric employees leave Huawei , You can get 1:4 Discounted equity , Then only to Liu Ping 1:1 discount , Of course he is not satisfied . Even angry .

At this time, Huawei was deeply involved in the litigation of the century , Is in a mess , Liu Ping's prosecution is even worse , Many of the company's elders have followed suit , Take Huawei to court . Fortunately, there was no public hearing this time , It didn't cause more trouble . At this time, Ren Zhengfei realized , Huawei's equity system has been riddled with loopholes , It's time to solve it .

At this point, Ren Zhengfei took out 30 billions , Announce Huawei's internal ,80% The above employees , All have the right to purchase the old shares of the company , That means , Huawei has become a small stock market , You can contribute to the purchase of shares , You can also choose to sell shares and leave . This move makes Huawei in difficult times , There is still relatively abundant capital flow . After all, this is a company with more than 100000 people , Everybody take out 1 Ten thousand yuan , That's it 10 Hundreds of millions of millions , But each person cashes in the same 1 ten thousand , It is the loss of more than a billion dollars . So Huawei was actually very dangerous at that time , If the business can not continue to improve , Huawei is likely to encounter a stock cashing crisis . It may collapse at once . Ren Zhengfei will run away if he doesn't get it right . But the good thing is that Huawei and those P2P The difference is , He really has a strong industry to support . This can stabilize the investors of internal employees , We all see that the company continues to improve , That's why I'm willing to hold shares but not cash them .

in addition , Let the company's internal stock circulate , There is also a benefit , That is, he doesn't have to worry about leaving , It will put financial pressure on the company , In the past, companies used to take money out to take back the stock of the leavers , Now, employees are willing to buy . There is no need for the company to contribute any more . It is equivalent to further easing the pressure on the company's capital .

The last step , Ren Zhengfei founded Huawei holdings , Clean up the equity completely , The Huawei trade union to which employees belonged in the past and the equity of Huawei Technology , All of them are installed in Huawei holdings , Then reduce the amount of options , One third of the original internal shares , A maximum of one-quarter of the rights may be exercised each year , This is to reduce Huawei's financial burden . It also narrowed the gap between new and old employees . In the distribution system , The whole company tends to be more fair . This has greatly mobilized the enthusiasm of new employees .

Ren Zhengfei also wants to lock in employees , Help employees apply for loans from the bank , To buy the equity of Huawei , Employees only need to go out 15% The money , The rest can be loaned , And the equity will be held by the bank , This is equivalent to dispersing the risk , It also improves the enthusiasm of employees . It's equivalent to adding 6 Times the lever , The benefits are even greater . Buy the equity of Huawei , It's more cost-effective than buying a house . So after this rigorous design , Reached a win-win situation , Employees are more willing to buy shares of the company , Because there are huge benefits , And after they hold more shares , The energy is more sufficient , For Huawei , More employees take equity , It will ensure that his capital flow is abundant . At the same time, the risk is spread to employees and banks . And the bank also thinks this is a good business , As Huawei grows , These shares are increasing in value . Banks can also make interest income , Get a piece of it . Of course, Lao Qi thinks this system is designed , There must be a premise , That is, the company must prosper , If Huawei's business fails one day , Performance began to decline . There may still be a run . And then there may be reflexivity , Share price falls , Excessive redemption , On the contrary, it makes the business burden heavier , And then suppress the business . This risk is very big . It may even fall down suddenly , I don't know how Ren Zhengfei took precautions against the risk of the black swan . The advantage of internal equity financing is that it is not affected by the external environment , Whether the stock market is good or bad has nothing to do with Huawei . But the disadvantages are also obvious , That is, the requirements for the company's operating ability will be higher .

Huawei is actually financially , Also encountered great trouble , such as 2003 Nianhuawei's profit margin can still be maintained 19%, And by the 2007 year , It plummeted to 7%, Ren Zhengfei complained to many senior executives at that time , I know you have taken a lot of big orders overseas , But I'm not sure , Will these orders make us money . Then Huawei sent 10 Financial backbone , thorough IBM Investigate and learn advanced financial systems , and IBM It has also provided great help to Huawei , Set it as one of your business unit customers VIP member ,

IBM Constantly put their own financial ideas , Instill in Huawei , Then Huawei made profit and cash flow , Have been improved to a certain extent . After that, Ren Zhengfei continued to reform , Cancel the Sales Department of Huawei , Put all sales under the management of the business unit . Let these business units operate in an integrated way , Independent financial accounting . Completely change the original organizational structure .

Financial transformation , It has broken Huawei's traditional totalitarianism , Since then, Huawei has more decentralized management , Although Ren Zhengfei has a strong desire for power , But he also felt , Decentralization of power and responsibility has more advantages than disadvantages for enterprises , Be able to mobilize more positive people . It also shortens the feedback mechanism of the market . So streamline administration and delegate power , This is the same no matter running a country or doing business , The most prosperous economic period in Chinese history , Basically, the power is scattered in local areas . Such as the spring and Autumn period and the Warring States period , Such as the Tang Dynasty . Both culture and economy are developing at a high speed .

2009 Years later, due to Huawei's financial transformation , The per capita production efficiency has improved unprecedentedly , It can even compete with the international giant Ericsson ,2010 After year , Huawei's revenue has never been lower than 180 Billion dollars , The best , And the most respectable is , Follow BAT Different , Huawei makes money from overseas market , His overseas income accounts for more than three-quarters .

Huawei's talent strategy is also very interesting , They go deep into the University , Recruit students extensively through extremely high treatment , Then the next question is how to cultivate these elites , Ren Zhengfei's method is , Let them be salesmen first , He thinks that sales is the most practical work in the market , It is also the work that most exerts people's willpower and psychological quality , The vast majority of Huawei people , They all think that they used to be sales people , Is the most unforgettable , Some people even think that life without sales is not perfect .

Even some new people , Being assigned to a sales position is 3 year , If you can't pass this level, you have to pack up and leave . The purpose of Ren Zhengfei's move is to train special forces in Huawei's army , And he thinks the definition of special forces is that they must be amphibious , Only one skill is not a special force . What he wants is more professional , Experienced compound talents . In fact, this is quite right , Technologies and products that have not been sold , You can only make cars behind closed doors , Let them go out and run with the sales people , You will know the real needs of customers . Sometimes they are scolded by customers , Something you make yourself , I am ashamed to admit , Only when you come back can you know your shame and be brave . If you don't want to be scolded, you can only polish the product constantly .

Besides , Huawei spends a lot of money on training its employees , But Ren Zhengfei thought it was worth it , There are famous business management masters , Warren Bennis said , Employee training is the least risk of the enterprise , The most profitable strategic investment , Ren Zhengfei thought so , The training in Huawei is very meticulous , There are pre job training and on-the-job training , There is even laid-off training , What does that mean ? What are you training for when you are laid off ? Let's continue tomorrow .

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