Succession PlanningThe

GE - perspective

“Imagination at WorkBY-

•-- Pratik Negi•-- Chirag Kanani•-- Palak Sheth•-- Ashfaq Memon•-- Utkarsh Mistry

REASONS WHY SUCESSION PLANNING ?

Transition Of

Qualified Employees

Individual Contributors

Mangers and Leaders

Q1.- Give an overview of the succession planning @ GE.

Following would be the points that can be included for the overall changes that took place

Jacks decision to handover power to Immelt. as a ideal leader & best suited Succession planning has started from the CEO’s after T.A Edison rotation and selection of candidates within the organization. 3 categories of A,B,C were differentiated for the employees across the company involvement of top management in monitoring top 3000 executives. CEO’s and HR heads used to develop strategies for the Employee development. individualistic approach for every candidate to develop him to fullest. Annual performance reviews were done twice a year. $1 billion was invested [ so money was flown for human development] global exposure was given to the employee for better management control in other roles and duties. Value injection – { major help in change} 8 criterions were selected for the CEO post. Ideal CEO’s characteristics were identified.

Q2.Achievements of GE through Succession Planning

Succession Planning for key jobs, early career sketch, training.

Identify leadership qualities- major tools

Management & leadership development

Manager development, Executive development, Business development

Importance of values

Leader or Manager

Q3- what are the factors that influence Jack Welche choice of successor?

Following are the factors

Immelt immediate measures to cut cost.

Restructuring of GE’s Business.

Focus on customer service.(ACFC)

Different management styles.

Focus on long-term strategies.

Immelt’s focus on R&D and innovation.

Q4- what do you think the succession planning really began in beginning?

• IN 1994 planning got started and was incubated by GE

• Selecting player as players for different tiers of the company

• HR reviews and audits helped them to plan in a much better way.

• listing down the competencies and qualities required for the planned approach.

• Succession planning in terms of AGE and there involvement in different business lines to make sure filtering is done in a best possible way.

Q5.Why is such an elaborate process Necessary?

• It helps Internal development and Recruiting internal employee make sure that the integrity of the organization maintains.

• Different kind of Business lines requires experience from within and exposing a new person from outside make friction within the organization.

• Developing skills through different sorting system and selection criterion.

• It makes a organization more flexible in terms of adaptation of ideas and strategies getting implemented at a smooth phase.

Thank You