The typical employee now at GE is a 20 something college grad with limited real life experience who works a 20 hr work week. They are more concerned about their next job to care about the one they are supposed to be doing.
While I could never get away with suggesting this publicly , here are the things that will really fix GE...
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Stop all Hiring (No DTLP, OMLP, XLP, Interns etc) you have more than enough people already.
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Go back to having allotted vacation time and work hours. People need to be present and do their jobs.
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Identify top talent you already have by performance. (Not college, or leadership program attended) train them vigorously and promote them. They care and will put forth the effort to turn this thing around.
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Close Crotonville..it is a luxury you cannot afford AND represents old GE too much!
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Bring back real performance reviews . Force rank and aggressively eliminate low performers.
Great companies are about great people.. get back to basics, identify those great people and get out of their way!