GE is one of the world’s famous corporations that was established in 1878 by Thomas Edison. The company is committed to management talent development practices. The strategy followed by the company delegation is made possible by talented managers who are well developed within the objectives of the company. Its structure and staffing approach follows this strategy. The company has built an education system from where it sources for its management team. The company also has an on-the-job management development program for its management team. The company is structured in such a way that it has departments that acts as branches.
These departments have specialized duties that to be carried effectively need to be managed by managers who are well developed. The managers are evaluated regularly on their career interests and development plans are analyzed. The managers are supposed to develop Individual Career Forecast for the subordinate staff. There is a prepared Organization and Staffing Plan that is followed by the management. There is clear indication that the company has well established policies and programs for its human resource. The company always carries out evaluations, career forecasts, and come up with succession plans that are forwarded to the management.
Once each employee completes a form that requires self-evaluation, career interests, and development plans, they meet with their immediate managers to review their interests and opportunities, and thus agree on the development plan. The company takes career and talent development seriously and this is why it is possible to retain talents. Just like any other large company in the face of globalization, GE has been required to rethink its strategies since it developed branches especially oversees. Coordination of these branches is a challenge, but the management culture that was instilled in the company since its inception has seen it through. Read about online enrollment system proposal
Order custom essay GE’s Talent Machine with free plagiarism report
Despite the fact that it is hard to come together and work as a unit, the managers of all the departments and branches strive to work within the culture that has always driven the company. One of the CEOs of the company came up with a globalization strategy to take advantage of the spirit of multinationals. However, the management of the group of disparate businesses was carried out under a single umbrella. Globalization has also created the need to rethink creation of more departments in other countries and well as the need to develop non-US managers.
The company’s ability to manage talent has given the company an upper hand over its competitors. Since its inception, the company has invested in human capital, skills and expertise, which is the most important capital for any businesses. The ability to develop and manage talents has kept the company at the top, where most of the other companies have had problems implementing performance management. There is always a need to work harder despite the feeling that one is at the top. It is incorrect to argue that the talent machine is in balance and that there is no need to fine-tune it.
There are various issues that are still hanging on balance in the company. While reflecting his performance in the year 2003, Emmet realized that his past one year was challenging. There were major layoffs, followed by the effects of the sluggish economy. The fact is that there was and will always be need to fine tune the machine depending on the nature of the economy. Emmet should adjust some parts of GE’s finely tuned talent machine to keep up with the changes. Work cited: Bartlett, Christopher A. & McLean, Andrew N. GE's Talent Machine: The Making of a CEO, Harvard Business School. 2006.
Did you know that we have over 70,000 essays on 3,000 topics in our database?