On the first Sunday after Xiaomi’s 10th anniversary speech, which is also the birthday of the 9th anniversary of Xiaomi’s smartphone and the 10th anniversary of MIUI, Lei Jun once again announced Xiaomi’s big event: Xiaomi will implement a partnership system and a new decade entrepreneur plan.
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After proposing the slogan of “re-enterprise” in the next ten years, Lei Jun will also consolidate the organizational system, talents and values. At today’s internal conference, four executives Wang Xiang, Zhou Shouzi, Zhang Feng and Lu Weibing became Xiaomi’s new partners.
Under the witness of the five founding partners of Xiaomi, the four new partners were sworn in. The oath includes ‘to fulfill Xiaomi’s mission and defend Xiaomi’s values’.
Establish a partner system and construct a collective decision-making mechanism
In the early days of Xiaomi’s startup, there were a total of eight co-founders. And this team of co-founders contributed to Xiaomi’s early development. In the tenth year of Xiaomi’s establishment, three co-founders have successfully retired. Today’s Xiaomi decision-making level also needs fresh blood.
Lei Jun pointed out in his internal letter that Xiaomi’s re-enterprise in the next ten years will require a strong team and a steady stream of outstanding talents.
Who Are The New Members?
Among the new members, Wang Xiang joined Xiaomi in July 2015. When he was in charge of the international business of Xiaomi, Xiaomi became the number one in the Indian market in a short time. And at the same time, he accelerated the pace of development in multiple overseas markets. Wang Xiang currently serves as the group president.
Zhou Shouzi joined Xiaomi in July 2015. During his tenure as CFO, he promoted Xiaomi’s successful listing. And it became the first company with same shares in Hong Kong stocks. Currently, Zhou Shouzi serves as Senior Vice President and President of the International Department.
Zhang Feng joined Xiaomi in September 2016. He was ordered to promote the upgrade of Xiaomi’s supply chain management. Currently he is serving as vice president, chief of staff, and chairman of the procurement committee.
Lu Weibing joined Xiaomi in January 2019 and participated in the independence of the Redmi brand. This supported the basic growth of Xiaomi’s smartphone business. Currently, he is serving as Vice President, President of China, and General Manager of Redmi Brand.
Judging from the resumes of these four people, they all made great achievements in Xiaomi. To be co-opted as a Xiaomi partner is to encourage on the one hand, and on the other hand to establish an entrepreneurial mechanism and culture at the management level.
At the same time, there was an internal letter. The four new partners were also formally sworn in. With the addition of the five founding partners Lei Jun, Lin Bin, Hong Feng, Wang Chuan and Liu De who are still on the job, Xiaomi’s partner team has expanded to nine.
Lei Jun pointed out that Xiaomi’s partner system is a collective decision-making mechanism for the core issues of the group. And it is also the inheritance mechanism of Xiaomi’s cultural values and Internet methodology. The addition of new partners will enhance Xiaomi’s strategic traction and action endurance in the next decade. Also, it will provide core management guarantees for Xiaomi’s new journey.
Implement entrepreneur plan
If Xiaomi wants to start a new business, it not only needs to rely on senior managers but also junior managers and middle managers are an indispensable and important link.
Lei Jun revealed that in addition to the partner system, Xiaomi’s new ten-year entrepreneur plan has also been launched at the same time. According to the plan announced in his internal letter, Xiaomi will select hundreds of young cadres who agree with Xiaomi’s mission, vision, and values, have the ability, potential, and have outstanding achievements in core positions, and give rewards similar to early entrepreneurs and encourage them strive with entrepreneurial mentality and commitment.
The plan is mainly for young backbones and may give a return of 100-200 million yuan ($15-30 million) in the next ten years.
In fact, Xiaomi has introduced a large number of industry executives from the outside in the past two years. These airborne executives have brought fresh blood to Xiaomi’s growth. But the incentives and upward channels for internal employees are also a link that cannot be ignored.
What about the lower-level managers?
Earlier, Lei Jun said that for talents, Xiaomi promoted more than 80% internally, supplemented by external introduction. Since its listing, Xiaomi has also internally promoted Yan Kesheng, Cui Baoqiu, and Gao Ziguang three vice presidents. And it was introducing a number of external executives. And more than 30 general managers of business units and functional department general managers have been promoted internally.
If the partner system is the entrepreneurial incentive and cultural inheritance of the decision-making level, then the entrepreneur plan is the entrepreneurial incentive and cultural inheritance of the junior and middle-level managers. ‘One person may go fast, a group of people can go far. The continuous discovery, introduction and training of talents, and the formation of capable, ambitious, aggressive, and responsible talent echelons are the foundation for the sustainable development of our business. Xiaomi will continue to provide sufficient space and generous returns for outstanding talents at all levels. So every colleague can show their talents,’ Lei Jun said.
In addition to systems and mechanisms, Lei Jun also once again emphasized ‘values’. Whether it is a partner or an entrepreneur plan, Lei Jun’s selection criteria are first of all to recognize Xiaomi’s mission and values.
In the previous tenth anniversary speech, Lei Jun proposed that Xiaomi should adhere to the ‘three iron laws in the next ten years. This includes the technology-oriented, cost-effectiveness as the key link, and the coolest products. In this letter to all members, Lei Jun also reiterated that these ‘three iron rules’ will never change.
After going public and becoming one of the world’s top 500 companies, facing the next decade, can Xiaomi’s organization and talent layout support future new growth while at the same time inheriting Xiaomi’s culture and values.