Haier Securities Investment Analysis Report
I. Enterprise Overview Haier Group is a national super-large enterprise that introduced Liebherr refrigerator production technology from Germany in 1984 and developed on the basis of Qingdao Refrigerator General Factory. Guided by the idea of "famous brand strategy" put forward by President Zhang Ruimin, Haier Group has rapidly grown a collective small factory with a loss of 6.5438+0.47 million yuan into the first famous brand of household appliances in China through technology development, refined management, capital operation, merger and acquisition and international operation. Haier currently employs more than 20,000 people, and has developed 62 dealers and more than 30,000 marketing points overseas. By 1999, Haier's products covered more than 9,200 varieties in 58 categories. The sales revenue of enterprises increased by 8 1.6% annually, and the industrial sales revenue of the group reached 21500 million yuan. Haier started with the introduction of refrigerator technology, and now relies on mature technology and strong strength to build factories in Southeast Asia, Europe and other places, achieving a historic breakthrough in exporting complete sets of household appliances technology to developed countries in Europe. Second, Haier's human resources development strategy (I) "Internationalized enterprise, internationalized people"-Haier's human resources development goal Under the guidance of President Zhang Ruimin's thought of "taking the internationalization road and creating a world famous brand", Haier Group has achieved sustained, stable and high-speed growth by implementing the famous brand strategy, diversification strategy and internationalization strategy, and its brand value not only ranks first in China's home appliance industry, but also enjoys an increasingly high reputation in the international market. 1997, the State Economic and Trade Commission identified Haier as one of the six pilot projects that hit the world's top 500. Haier's international operation has entered the fast lane and won more and more respect in the international market. Haier is soberly aware that in the current environment, in order to become an internationally renowned brand, every employee must first become an international talent. Therefore, the goal of human resources development of Haier Group must adapt to the big goal of implementing internationalization strategy for enterprises and cultivate talents with real international quality and competitiveness for enterprises. (2) "Horse racing is not like a horse"-Haier's principle of human resources development. Haier always insists on concept innovation and system innovation in the process of human resources development; Insist on creating a fair, just and open atmosphere, establish a mechanism to give full play to personal potential, and provide everyone with a development space to fully realize their self-worth while realizing the big goal of the enterprise-"how many somersaults you can turn". 1. Haier believes that everyone is like a sphere rising on a slope. The fiercer the market competition, the larger the enterprise scale, and the greater the angle of this slope. The inertia of employees is the resistance to the development of talents. Only by improving one's own quality, overcoming inertia and constantly advancing towards the goal can one develop oneself, otherwise one can only slip down and be eliminated. The driving force to prevent talents from falling on the slope is people's quality. When Haier talks about quality, people agree with the concept that it is cultivated bit by bit and forced out from strict management. To this end, Haier has carried out an all-round cleaning and control of every day, everyone and everything, "one day is over, one day is clear, and one day is high", in order to control the problem in the smallest scope, solve it in the shortest time and minimize the loss. Poqiu's talent development theory is deeply rooted in Haier Group, which provides motivation for every employee to improve their own quality. From managers to ordinary employees, they cherish every learning opportunity and consciously add "oil" to their "uphill". 2. "Everyone is a talent, and horse racing is different from horse racing" and "disguised horse is a horse racing" are actually the embodiment and guarantee of Poqiu's talent development theory, and they complement each other. In the view of Haier Leading Group, enterprises are not short of talents, and everyone is a talent. The key is whether everyone's best quality and potential can be brought into play. In order to give full play to everyone's best quality and potential, Haier people "disguise a horse as a racing horse". From the beginning, Haier's human resources development is "everyone is a talent" and "creating talents first and recreating brands", which took the lead in changing the functions of most enterprise cadre offices. Human resource development center is not to study who to train and who to promote, but to study how to give full play to the potential of employees. Haier has made three kinds of career designs for employees: one is a manager, the other is a professional, and the other is a worker, each of which has a promotion direction. Horse racing follows the iron law of "survival of the fittest". No one can be satisfied with his achievements, only starting a business without leaving a job; Whoever keeps his job and doesn't make progress will be eliminated by fierce competition. In addition, Haier's "horse racing" is open in all directions, and all positions can participate. It was just a challenge. Everyone can be promoted and open to the society. Here, there is no status, age or qualifications, only skills, vitality, creativity and dedication. "Xiangma" gives the fate to others, and "horse racing" holds the fate in everyone's own hands. It is a gift. In Haier, it is everyone who paves the way to success. 3. "The position should be controlled, the promotion should rely on competition, and the post should be rotated at the expiration" to control the managers who are already on the job. There is such a principle in Haier's employment system, that is, under the condition of market economy, the so-called "employing people without doubt, suspecting people without using them" is a counter-judgment of market economy. In the market economy, the essential relationship between people is interest-driven. Whether to trust or distrust a cadre is based on personal feelings or on the investigation of cadres' working ability is directly related to the success or failure of an enterprise. Based on this principle, Haier Group has formulated: "Posts should be controlled, promotion should depend on competition, and posts should be rotated upon expiration". "The deeper the dolphin dives, the higher it jumps" is Haier's ups and downs promotion mechanism. When a cadre is in charge of a superior department, Haier does not let him take up his post immediately, but let him go to the grass-roots level of his post for a period of time first. Some have reached a very high position, but if they lack experience in this field, they should be sent down; Some people have all kinds of experience, but their comprehensive coordination ability is low, so they should be sent to these departments for exercise. This may be a great pressure for a cadre, but it also exercises the cadre and cultivates his comprehensive ability. 5. quota elimination system quota elimination refers to a certain percentage of people who must be eliminated within a certain period of time and scope. In Haier, there is no such thing as "no credit, no hard work" and "no gain for nothing". In a certain period and within a certain range, the quota will be eliminated according to a certain proportion. Haier implements the "three industrial transformation system". The system divides employees into probation employees, qualified employees and excellent employees, and three types of employees are dynamically transformed. Through strict performance appraisal, all employees will be promoted, lowered, won and eliminated in the dynamic competition. Work hard, and employees will become qualified employees or even excellent employees during the probation period. Those who don't work hard will change from excellent employees to qualified employees or probation employees. More strictly, the probationary employees should be determined in proportion after each assessment, so that everyone has a sense of crisis. A new concept has been established in people's minds: if you don't work hard today, you will try to find a job tomorrow. Whoever destroys Haier's brand will lose his job. (3) "Challenge the sense of satisfaction, manage ourselves and challenge ourselves"-Zhang Ruimin, president of Haier Group, believes that in the new economic era, people are the decisive factor to ensure innovation, and everyone should be the main body of innovation. To this end, Haier designed the concept of market chain. 1. "The competition effect of external market is internal public"-market chain Haier thinks that there are two markets inside and outside the enterprise, how the internal market can meet the needs of employees and improve their enthusiasm, and how the external market can meet the needs of users. In Haier, "the next process is the user", everyone has his own market and a subject who needs to be responsible for his own market. The next process is the user, he represents the user, or he is the market. The most important thing for every employee is not to be responsible for his superiors, but more importantly, to be responsible for his own market. 2. Immediate motivation-fully tap and give play to the enthusiasm of internal employees. In order to encourage employees to engage in technological inventions, the Group promulgated the Measures for Rewarding Employees' Inventions, and established Haier Award, Haier Hope Award and Rationalization Proposal Award, which were awarded respectively according to the economic and social benefits created by enterprises. Third, the enterprise development strategy is the basis of determining the salary system. The development of Haier Group can be summarized into three stages: the famous brand strategy stage (1984- 199 1 year), which took seven years to implement the famous brand strategy and established a total quality management system through the process of concentrating on making refrigerators; In the stage of diversification strategy development (1992- 1998), through the extension of corporate culture and the concept of "East shines, West shines", it took seven years to successfully implement diversification expansion; In the stage of internationalization strategy (after 1998), the internationalization strategy oriented to building international famous brands is being accelerated and progressed through the three strategies of 1/3, which take the international market as the development space. Haier adjusts its salary system at any time according to different stages of development. (1) salary system In the stage of international famous brand strategy, enterprises should take quality as the theme in the 1980s, that is, total quality management. At this stage, Haier focuses on quality, so the salary management system also focuses on quality. Quality-oriented salary management system is mainly to change employees' quality concept. The characteristic of enterprise's salary system is to focus the salary assessment system on the assessment quality. At that time, Haier established a quality and value certificate assessment system, requiring employees not only to make one, but also to make a good product. Secondly, the assessment focuses on compliance with rules and regulations. All the rules and regulations of an enterprise are not posturing, but are implemented, assessed and honored when they are established. Therefore, the distribution system at this time is mainly linked to quality. Whoever has quality problems will be deducted from his salary according to the assessment regulations, which is very beneficial for entering the international market in the future. (2) the salary system in the diversified stage-the salary system in the diversified stage has been improved and standardized from the original four models to the 13 profit model, and various salary systems and flexible distribution forms have been implemented. Scientific and technical personnel implement scientific research contract system, marketing personnel implement annual salary system and commission salary system, production personnel implement piece-rate salary system, and auxiliary personnel implement salary point salary system. Haier's salary is paid in different grades, and the post salary standard is not more than three times the average salary of Qingdao employees. Post salary+state subsidy = total salary. There is no bonus every month, and the year-end bonus does not exceed two months' salary. Scientific research and sales personnel should be linked to work efficiency, and scientific research personnel should be rewarded according to market benefits and scientific research achievements. If the salesperson is an external salesman, the income should be linked to the sales performance. In the formulation and implementation of the wage distribution policy, Haier has always adhered to the principle of "openness, fairness and justice", and made a scientific assessment of every post and every action, with points in place and performance pay. Every employee has a three-E card (three E- everyone, every day, everything). After a day's work, employees can calculate the wages of the day according to the implementation of nine indicators, such as output, quality, material consumption and technology, which is called "employee self-quotation". The manager breaks down the goal into: annual goal-monthly goal-Nissin, and calculates the salary due in the current month. Everyone's salary is open and transparent, only looking at the effect, regardless of seniority, from the concept of equal pay for the same post to the concept of equal pay for the same effect. In Haier, high-quality, high-skilled employees have high salaries, and the value of talents is truly reflected in the salary distribution, which greatly mobilized the enthusiasm of employees for production. (3) International combat readiness stage-market chain and market chain is a mechanism to enhance employees' awareness of market competition and reflect it in wage distribution. The market chain mechanism is SST (two demands and one jump), and asking for remuneration is to get remuneration by serving customers well; If you can't meet the requirements of the market, you will be claimed. If you don't ask for compensation and claim, the third party will trip and there will be problems with the brakes. Through this form of internal simulation of market distribution, the management of enterprises can be promoted and the market competitiveness of enterprises can be enhanced. Iv. Specific operating principles of the salary system In the design of the specific salary system, Haier has mastered the following principles: 1. The principle of combining static and dynamic (such as dynamic salary assessment, static subsidy, allowance, etc.). ) .2. The principle of combining direct and indirect (direct: salary, allowance, reward, etc. ; Indirect: housing, shuttle bus, vacation, welfare, etc. ) .3. Combination of dominance and invisibility (dominance: cash part; Implicit: insurance, welfare part). 4. The principle of combining the whole with the department and the department with the individual (calculate the whole according to the benefit, calculate the department according to the efficiency, and calculate the individual according to the effect). 5. The principle of combining conduct with skills (the idea and effect of dealing with problems). 6. The principle of combining primary and secondary indicators (primary indicators and secondary indicators). 7. The principle of combining qualitative and quantitative. Haier's development is a miracle, but behind this miracle, Haier always adheres to the principle of "people-oriented" and gives full play to the role of employees as the "source". In Haier's unique management concept (people-oriented, systematic coordination and rising day by day), the "people-oriented" management concept plays the role of soul and commander in chief. At the same time, Haier has always regarded distribution as the top priority of human resource management, and put forward the view that "all problems are distribution problems", which has formed a good atmosphere for the heads of various units and departments to personally grasp distribution. It is precisely because of this good atmosphere that Haier Group has formed a distinctive salary management system, which has played a vital role in fully mobilizing the enthusiasm and creativity of employees, tapping their potential and ensuring the high-speed, stable and healthy development of enterprises.