I have worked at GE for 15 years in a well paid, Senior position, and let me tell you, GE probably has the worst Senior Management team of any major corporation in the entire World.
Jeff Immelt has no plan, goal or vision for this Company. Over the years, GE has been successful in spite of its self, not because of any well defined strategy. The Company's shear size has hidden all of the continous bad decisions made throughout its numerous businesses.
GE's vision into the future is at best quarter to quarter, but more accurately, month to month.
Senior Managers do absolutely nothing to provide franchise value to the business they are in charge of. Their focus is purely on the advancement of their own careers, bonuses, and stock options (even though these options have become virtually worthless during Immelt's reign).
Most Senior Managers only head up a group for a year, and only to pad their own resumes to put themselves in a position for their next promotion. One year is no where near enough time for these managers to gain any knowledge about the business they are running, to implement any positive changes, or build any sort of relationship with their workers. Probably worst of all, the decisions made during their brief period withing each business are never about what is best for GE, but rather what is best for themselves.
Given GE's total lack of interest in its employees that do the actual work, the Company has alienated virtually every worker up and down the line. Working at GE is purely a mercenary activity and unfortunately, most of the bullets the employees have to dodge are from those fired at them by Management.
Given GE's scortched earth policy towards these employees, once the economy and the financial markets improve, GE should not be surprised to see a mass exodus of its best workers.
Now is the time for the Board of Directors to look into the mirror and rebuild the Company from the top down. Their first and most important action must be to fire Jeff Immelt. Under his leadership, GE's stock has dropped from $60 per share to under $18. What else need be said?
Next, while it is difficult to roll up one's sleeves while wearing French cuffs, it is time for the Board to do the job they were appointed to do. They need to get their hands dirty and dig in to find out what GE is really about. The Board needs to gage the true level of employee disgust, stress, burn-out, zero work/life balance, and total distrust of Senior Management.
Of course, none of this will ever happen. From their ivory towers, it is impossible for the rulers of GE to have any interest in the true pulse of the Company and its employees. GE's "Let them eat cake!" attitude towards its workers will continue unchecked. This lack of interest of what is actually happening withing the business will be GE's ultimate downfall and lead the Company straight down the same path of Wall Street, GM and Enron.
Entry: Layoffs Watch '08: GE
posted by gesucks
Oct 26, 2008 11:42AM
I have worked at GE for 15 years in a well paid, Senior position, and let me tell you, GE probably has the worst Senior Management team of any major corporation in the entire World.
Jeff Immelt has no plan, goal or vision for this Company. Over the years, GE has been successful in spite of its self, not because of any well defined strategy. The Company's shear size has hidden all of the continous bad decisions made throughout its numerous businesses.
GE's vision into the future is at best quarter to quarter, but more accurately, month to month.
Senior Managers do absolutely nothing to provide franchise value to the business they are in charge of. Their focus is purely on the advancement of their own careers, bonuses, and stock options (even though these options have become virtually worthless during Immelt's reign).
Most Senior Managers only head up a group for a year, and only to pad their own resumes to put themselves in a position for their next promotion. One year is no where near enough time for these managers to gain any knowledge about the business they are running, to implement any positive changes, or build any sort of relationship with their workers. Probably worst of all, the decisions made during their brief period withing each business are never about what is best for GE, but rather what is best for themselves.
Given GE's total lack of interest in its employees that do the actual work, the Company has alienated virtually every worker up and down the line. Working at GE is purely a mercenary activity and unfortunately, most of the bullets the employees have to dodge are from those fired at them by Management.
Given GE's scortched earth policy towards these employees, once the economy and the financial markets improve, GE should not be surprised to see a mass exodus of its best workers.
Now is the time for the Board of Directors to look into the mirror and rebuild the Company from the top down. Their first and most important action must be to fire Jeff Immelt. Under his leadership, GE's stock has dropped from $60 per share to under $18. What else need be said?
Next, while it is difficult to roll up one's sleeves while wearing French cuffs, it is time for the Board to do the job they were appointed to do. They need to get their hands dirty and dig in to find out what GE is really about. The Board needs to gage the true level of employee disgust, stress, burn-out, zero work/life balance, and total distrust of Senior Management.
Of course, none of this will ever happen. From their ivory towers, it is impossible for the rulers of GE to have any interest in the true pulse of the Company and its employees. GE's "Let them eat cake!" attitude towards its workers will continue unchecked. This lack of interest of what is actually happening withing the business will be GE's ultimate downfall and lead the Company straight down the same path of Wall Street, GM and Enron.