Feng Jianxiong: "Yes, this is a secret reward and punishment, is there any problem - the company is to make money, not to promote the freedom of the people." What is there to talk about human rights with employees? "Zuo Chuan" says: "If the punishment is unknowable, the threat is unpredictable."

If the criminal law is not made clear to the common people, then its deterrent effect can far exceed that of the written law. That's why Uncle Xiang has the feeling of 'the people know the dispute, will abandon the gift and collect it in the book, and the end of the cone knife will fight for it'

To deal with the new business model that changes every day, what is needed is the deterrent power that the boss can arbitrarily increase the punishment, in order to curb all kinds of ever-changing new internal corruption, and ensure that people's hearts are weighing when pursuing performance, and whether they are pursuing performance in good faith. ”

However, Cai Chongxin's question obviously does not stop there: "Xiao Feng, you misunderstood, I can completely understand what you mean - I am not questioning this." I mean, how can your attitude of blatant clamor for secret rewards and punishments win the trust of the company's external investors and shareholders? Do you know that our company is currently brewing ......?"

When he said the word brewing, Cai Chongxin paused, turned to Ma Feng and asked for a look.

Ma Feng nodded slightly, and Cai Chongxin confirmed that Ma Feng was ready to hire Feng Jianxiong's firm as a consultant for a long time, and then he finished his words in a complete showdown: "Our company is preparing to be listed on the Hong Kong stock market next year." The fuzzy management you mentioned will affect the company's IPO valuation. ”

After Cai Chongxin opened his mouth just now, Wei Zhe has been quietly watching the changes. Listening to Cai Chongxin's words at this moment, Wei Zhe wanted to see Feng Jianxiong's defeat.

Unfortunately, the expected "surprise" did not appear.

"It turns out that your company is going to IPO next year...... That's fine, in my plan, there is a backup plan for this kind of 'public image public relations'. ”

……

In the history of another time and space, Ahri Baba actually IPO more than once.

Although IPO is an acronym in English, its literal translation should be translated as "Initial Public Offerings".

Since it is the "first time", how can there be more than two times? It seems illogical.

But in fact, in the capital market, it is possible for a company to have more than two "IPO".

The premise is that as long as the company's two IPOs are placed on different stock markets under the supervision of the Securities and Futures Commission of different countries/regions, there can be two "firsts".

The first IPO in history was in the Hong Kong stock market in 2007, when the market value of the IPO increased to more than 20 billion US dollars, the IPO ratio was about 10%, and the successful financing was more than 1.7 billion US dollars. (The market value of more than 20 billion is slowly rising in the secondary market)

The second IPO was on the NASDAQ in 2014 in the United States, and after the success of this IPO, Ahri's market value reached more than 200 billion US dollars, and the IPO ratio was almost 10%, successfully raising more than 21 billion US dollars.

At the end of 2011, before going to the NASDAQ, Ahri was planning to gradually redeem its equity from the Hong Kong stock market, which had been listed for more than 4 years, and then delist and re-list in the United States.

Originally, according to the original plan drawn up by Ma Feng and Cai Chongxin, the re-listing IPO on the Nasdaq should be realized by the end of 2012. SADLY, THERE WAS A MAJOR CHANGE IN THE MARKET - ZUCKERBERG'S FACEBOOK COMPANY ALSO SUCCESSFULLY WENT PUBLIC ON NASDAQ IN THE SECOND HALF OF 2012, RAISING MORE THAN $10 BILLION IN CASH HOT MONEY.

As we all know, in a stock market, if a huge large-cap stock has just been IPO in front of it in the short term, it is entirely possible to squeeze out the hot money in the market at once. AS A RESULT, THE STOCKS THAT FOLLOW THE HUGE NUMBER OF LARGE-CAP IPOS WILL HAVE A SERIOUS IMPACT ON THE SIZE OF THE FUNDRAISING AND THE VALUATION OF THE OFFERING — IN FACT, ALMOST THE VAST MAJORITY OF NASDAQ NEW LISTINGS THAT WENT IPPO IN THE REMAINING MONTHS OF 2012 AFTER FACEBOOK DID HIT THE STREETS.

Ma Feng and Cai Chongxin urgently stepped on the brakes to slow down the pace of the IPO in order to prevent Ahri's IPO from hitting the streets, and later hatched an additional plan to split Alipay (Ant Jinfu) from Ahri Barbary and keep it as a super unicorn alone, which was delayed until 2014 to let Ahri IPO.

According to market experience, even in a market like NASDAQ, it will basically take two years to digest an IPO at the level of 20 billion cash.

At this moment, at the internal hearing, after Cai Chongxin was instructed by Ma Feng, the IPO plan for next year that he showdown with Feng Jianxiong was obviously the Hong Kong stock IPO that happened in 07 in history.

Of course, this plan is still secret from the public, and it will take more than half a year to achieve results.

……

Whether a company is 2C or 2VC naturally has completely different requirements for the company's management reputation.

2C, that is, obediently from consumers, from the actual users to make money, with the most simple business logic, as long as the thing is good, consumers feel both cost-effective and satisfied, willing to pay money, there is traffic, that is a good company.

But 2VC, it's time to consider the public image. If shareholders feel that this company is dictatorial, they can't understand it and don't trust it. Then the brokerage will also predict that investors have this tendency to distrust, so they are not willing to pay a high price when bidding for underwriting.

The reason why many companies pay attention to their public image is to go public, or they have already gone public.

Therefore, even if the draft of human resources rewards and punishments just proposed by Feng Jianxiong is beneficial to Ahri's actual efficiency in the changing competitive situation, as long as the public impression of "unclear rewards and punishments and chaotic management" is left behind, it will not work.

Cai Chongxin actually agreed with Feng Jianxiong's approach, and his position was still different from that of Wei Zhe, who was resolutely opposed. The only thing he wants Feng Jianxiong to solve is this public image.

Ma Feng looked at Feng Jianxiong expectantly, trying to see if he could create another miracle.

Wei Zhe looked at Feng Jianxiong mockingly, hoping that he would look foreign.

This is inseparable from the background and resume of these executives. People with each experience have their own three views on life.

Wei Zhe was parachuted in from the senior management of B&Q, an international giant in the mature industry, and what he believes in his bones is the KPI system of the mature industry with "clear rewards and punishments".

Feng Jianxiong's words seemed to him to be too deviant and completely unacceptable.

And historically, the reason why Wei Zhe was poached by Ahri was obviously Ma Feng's IPO for the Hong Kong stock market - after Wei Zhe was poached, he first became an executive vice president in 06, and then the situation was almost familiar, and the next year Ma Feng gave him the position of president, and Ma Feng himself only retained the identity of the chairman of the board of directors. (It is equivalent to giving the general manager to Wei Zhe to do, and he is only the chairman)

And Wei Zhe was in Ahri in 2011, and finally with another reshuffle of the stock market layout of the Ahri system, he was unloaded and killed by Ma Feng and the donkey was gloomy out - the time of Wei Zhe's resignation is obviously completely consistent with the timeline of Ahri brewing to delist from Hong Kong stocks and go to NASDAQ for a heavy IPO.

In other words, Ma Feng pulled Wei Zhe here, and the picture is that this kind of mature and old-school industry international giant executives are more popular in the Hong Kong stock market.

Because the Hong Kong stock market's judgment factors on the company's soundness are so old-fashioned, so simple and crude. (If Ma Feng, a reckless founder who was born as an English teacher, continues to serve as CEO, it will affect Gangcan's assessment of Ahri's value, because Gangcan shareholders do not trust grassroots CEOs).

Therefore, once Ahri Baba does not need to mix in the Hong Kong stock market one day, Wei Zhe will have no use value for Ma Feng.

From this point of view, if you think about it in the long term of five or ten years, as long as Feng Jianxiong's plan is right for Ma Feng's appetite and Ma Feng's three views, Ma Feng is still willing to support Feng Jianxiong in his bones.

The premise is that in the past few years, Wei Zhe must be given a reasonable explanation, and Wei Zhe cannot be offended because he listened to Feng Jianxiong and before Wei Zhe's use value was squeezed dry.

……

"Mr. Cai, I think the question you raised is actually mentioned in my supplementary plan. ”

In the expectation and pressure of everyone, Feng Jianxiong withstood the doubts and talked eloquently.

"If it is only to prevent 'the public from feeling that the company's management is not standardized and damaging the company's image in the minds of shareholders because of unclear rewards and punishments', then we can fine-tune the above-mentioned 'rule by man, not rule by law' performance incentive case.

The specific method is to put on a coat of 'rule of law', but at the same time, it avoids the principle of 'the law does not apply retroactively' of the rule of law, and changes it to 'new and light' -- rewards can be retroactive, while punishments cannot be retroactive.

I believe that ordinary shareholders and public opinion will not have such a deep understanding of the core concept of the rule of law. Those employees who like to take advantage of loopholes and be greedy for small and cheap are actually few who really understand the true essence of law-based management of the company. Such cover is enough. ”

"The reward is retroactive, but the punishment is not retroactive?" can you be specific?" Ma Feng and Cai Chongxin asked this question in unison.

In fact, other hearing executives present at the meeting were also very interested in this statement.

Because what Feng Jianxiong provides is a novel management concept that is obviously beyond the structure of an Internet company in 06 - it is a kind of blood and tears summed up with blood and tears after the giants were tortured by the constantly changing and innovative business model for many years.

After 15 years, none of this is new, but in 2006, it was enough to open people's eyes.

"It's very simple – for example, I'll use Chen Tianqiao's Shengda Company as an example. If Shengda wants to rectify their literary website today, it will not only sell subscriptions, but also IP. Then, under the careful operation of the operation staff, the number of clicks on the pirated BAN of some works is very high, and the Baidu search popularity index is very high, forming a certain IP value.

In the KPI assessment rewards and punishments previously set by the company, there is no evaluation of the Baidu hot search index of a work, which means that the corresponding operation and compilation personnel will not be given bonuses because this indicator is done well.

At this time, the boss can use his privileges to give extrajudicial grace to the person in charge of this kind of work with a 'high Baidu hot search index'. At the same time, it is also possible to conduct public hearings within the company, so that other operators who have done good things for the overall interests of the company before this timeline and have also produced several works with a high 'Baidu hot search index' for the company will also be rewarded according to the same standard.

In a word, even if the KPI is not required, the boss has a very large discretion to judge a certain kind of 'the company did not let you do it, but you took the initiative to do it for the good of the company', which is rewarded extra-legal and retroactively ......"

"Then what's the difference between this and the supplementary KPI assessment? Isn't this just a mid-year KPI added according to the actual situation?" Wei Zhe rudely interrupted Feng Jianxiong, "What kind of trick should I be, it turns out to be just 'keeping pace with the times and modifying KPIs'." ”

Feng Jianxiong replied with a smile without discouragement: "No, Mr. Wei, what I said is not the same thing as what you said - I said, reward, can only be traced back, but it has no effect on the future." The law, and the KPI system, are backwards effective, and the law governs what happens after the law is enacted, and I am not.

In my plan, today's boss summed up a model that is beneficial to the company, and after retrospectively rewarding, those who imitate these behaviors later will not be rewarded - so, as long as employees know the information that 'Baidu hot search index is high, there is money to take', and then they do it, there will be no money to take, so that they will not go to Baidu to spend money on swiping orders and falsify data.

What we have to do is to put on the cloak of the law, but let the employees know that 'don't try to guess the law, as long as you do good things with peace of mind, the boss will see it'. Only in this way can we select core employees who are truly in line with the company's corporate culture and three views in the ever-changing business model and technology model in the long run......"

Feng Jianxiong summed up for a long time, in fact, the core is two sentences: reward before chasing, punish after punishment.

"This ...... What kind of operation is this?" Wei Zhe pondered for a long time, and he couldn't understand it.

Feng Jianxiong's train of thought is really difficult to trace his traces.

"Those who make good use of the law do not speak lightly. This is the way of thinking of a truly knowledgeable jurist. Usually I take a lot of loopholes, only to know that the law and institutionalized management are all dead letters in many volatile fields.

It is necessary to listen to Xiao Feng more to open up ideas for everyone, otherwise I am afraid that I will be taken to the ditch if I always listen to the legal advisers who advocate the legal system talk about system construction. ”

Ma Feng listened to this idea in his mind. If it weren't for the fact that Feng Jianxiong was still a sophomore and didn't even have a certificate, Ma Feng would definitely seriously consider including Feng Jianxiong's firm as Ahriba's fixed legal counsel unit.

……

After two hours, Ma Feng's conference room door finally opened.

There were already a lot of people waiting for his instructions and signatures outside, piling up things on the hands of Ma Feng's secretary and queuing up to deal with them.

Feng Jianxiong and Ma Feng talked and laughed and sent out, and their vertical and horizontal momentum was seen by many people.

Ma Feng politely left Feng Jianxiong for dinner before leaving. However, he himself has a lot of things to do, and he doesn't eat so early, so he just asked people to lead Feng Jianxiong to the box to open a small stove.

Feng Jianxiong thanked him: "No need, Mr. Ma doesn't have to be polite, I'll just go to the canteen by myself - I only found out that Sister Tian was hired by you last week, and she still owes me a celebration wine." ”

Ma Feng also smiled and joked: "Hello senior sister, I have a senior sister to eat with, this atmosphere is good - then I won't have much to do, I'll give Xiao Tian a holiday tonight." I think she has two or three points of enthusiasm for doing things, and she is a talent. ”

Feng Jianxiong scolded for a while: Why do you have a holiday? It turns out that you call getting off work after 6 o'clock a holiday?