企业中，HR如果没有影响力，几乎寸步难行。因为HR的很多工作，落地施行都需要跨部门协同、业务 中高层的支持和员工的参与。 HR的影响力从何而来？ 如果创始人/一号位亲自管人力资源，或者由联合创始人之类的人员担任HR负责人，HR部门很容易高 出其它部门一头。但这毕竟是少数情况。 搞定创始人/一号位，"挟天子以令诸侯"？这对HR负责人提出了很高的要求，也非常考验Ta和创始人/一 号位互动的质量。而且，这种情况下仗势强推的工作，业务部门容易表演式配合，"认认真真走过场"。 通过专业精进提升影响力，是多数HR的选择。他们讲理念、懂模型、会模版；他们追求制度完善、流 程规范、报告精致；他们出口就是让人不明觉厉的专业术语，比如：人才盘点九宫格、绩效分布活力曲 线……他们的内心的假设是："我是专业的，你总该听我的吧"。 然而，真的专业，不是靠堆砌模版和专业术语，那只是HR专业上的"自我标榜"。此外，"专业"还不等 于"专业影响力"，如果过度执迷于专业逻辑，缺乏温度、人味和手感，这种"专业"非但不能转化为影响 力，反而消耗了影响力。 本文结合四类典型场景，聊聊HR的专业幻觉和影响力困局。 01 02 从"刻舟求剑"到"量体裁 ...

Core Viewpoint - The capital role is undergoing profound changes, shifting from "arbitrage thinking" focused on financial returns to "empowerment thinking" that deeply integrates into industrial upgrades [4][8]. Group 1: Market Dynamics - The primary market is experiencing structural changes, leading to a transformation in the role of capital [5][8]. - There is a misconception that fundraising is difficult; in reality, it stems from mismatched risk expectations between investors and the market [7][8]. - The decline in investment returns in traditional industries and the high inherent risks in innovative high-tech enterprises contribute to the challenges in fundraising [7][8]. Group 2: Investment Strategies - Investment in new productive forces requires long-term commitment, with a focus on supporting companies over a decade [4][9]. - Private equity institutions should identify potential growth sectors and actively develop merger and acquisition funds, even in traditional industries [9][10]. - The investment cycle often spans a complete economic cycle, necessitating strategic positioning during downturns to acquire undervalued assets [9][10]. Group 3: Policy and Regulatory Environment - There is a call for improved market conditions and policy support to foster a healthier development environment for private equity institutions [12][13]. - Optimizing the business environment and breaking down regional protectionism are essential for enhancing market connectivity and transparency [12][13]. - Encouraging long-term and patient capital, including government funds and private investments, is crucial for the growth of private equity [13].

Core Viewpoint - The capital role is undergoing profound changes, shifting from "arbitrage thinking" focused on financial returns to "empowerment thinking" that deeply integrates into industrial upgrades [1][4]. Group 1: Market Dynamics - The primary challenge of fundraising is a mismatch in risk expectations between investors and the economic outlook, rather than a lack of capital [3]. - The decline in investment returns in traditional industries due to overcapacity and insufficient domestic demand has increased fundraising difficulties, while high-tech innovative enterprises face inherent risks [3][4]. - In 2024, the proportion of equity investment exits through IPOs in China is expected to be only 36.1%, a year-on-year decrease of 37.2%, indicating increased exit difficulties [3]. Group 2: Investment Strategy - Investment institutions should focus on long-term support for new quality productivity enterprises, which require a decade for cultivation [4][5]. - Private equity firms are encouraged to identify potential growth sectors and actively develop merger and acquisition funds, even in traditional industries [4][5]. - The investment focus should be on companies that meet the "five criteria": technical barriers, market potential, structured operations, experienced teams, and validated growth [5]. Group 3: Policy and Regulatory Environment - There is a call for improved market conditions and policy support to attract more domestic and foreign capital into the private equity sector [8][9]. - Recommendations include optimizing the business environment, breaking down regional protectionism, and enhancing regulatory transparency to foster a healthier investment climate [8][9]. - The government is urged to enhance the management efficiency of investment funds and encourage long-term and patient capital to enter the market [9].