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People come first; then comes Strategy..
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Chrm Message From: msantos Total Posts: 35 Join Date: 18/10/2006
Rank: Executive Post Date: 25/11/2006 00:52:07 Points: 175 Location: United States

Most of the successful CEOs believe in “People come first; then comes strategy”. GE’s Jack Welch, who says “we spend all our time on people”, spots talents early, grows them and gives them the right assignment. The continued pruning and nurturing of employee potential gives GE the powerful competitive advantage of extraordinary longevity among the top executives. Since Welch has assigned the right people with the right work everywhere, he can be sure about things getting better everyday.

Any members to take off this ??

Regards,
msantos



Chrm Message From: amarjeet Total Posts: 40 Join Date: 18/10/2006  
Rank: Executive Post Date: 25/11/2006 00:54:55 Points: 200 Location: United States

Dear Colleagues,

After having raised the market value of GE from $ 12 million in 1981 to $ 280 billion ( approx ) in 2001, Jack Welch has taken up the role of a mentor.Though he is despised and called as rutheless in certain schools of thought, Jack Welch has a enabling stance of a mentor since 2004.

Regards,
Amarjeet

Chrm Message From: meera Total Posts: 35 Join Date: 18/10/2006  
Rank: Executive Post Date: 25/11/2006 01:02:43 Points: 175 Location: United States

Leaderships Secrets employed by General Electric’s eighth chairman, Mr Jack Welch, in his two-decade journey to change the destiny of one of the world’s great corporations.
Excerpts from The Welch Way, The Employee Handbook for Enhancing Corporate Performance, by Jeffrey A. Krames.

Lead

- - Articulate a vision, and spark others to execute it.

- - Don’t manage every excruciating detail.

- - Involve everyone and welcome great ideas from everywhere.

Get Less Formal

- - Brainstorm with colleagues and bosses

- - Hold more informal meetings

- - Consider a once-in-a-while informal get together

Blow up bureaucracy

- - Drop unnecessary work

- - Work with colleagues to streamline decision making

- - Make your workplace more informal

Face reality

- - Look at things with a fresh eye

- - Don’t fall into the ‘false scenarios’ trap.

- - Leave yourself with several options

Simplify

- - Simplify the workplace.

- - Make meetings simpler.

- - Eliminate complicated memos and letters.

See change as an opportunity

- - Know that change is here to stay.

- - Expect the least expected, but move quickly to stay a step ahead.

- - Prepare those around you for the inevitable change that will affect their lives.

Lead by energizing others

- - Never lead by intimidation.

- - Let others know exactly how their efforts are helping the organization.

- - Send handwritten thank-you notes to colleagues and customers.

Defy tradition

- - Hold a “why do we do it that way?” meeting.

- - Invite colleagues from your department to contribute one idea on changing something important at the company.

- - Don’t be afraid to buck conventional wisdom.

Make intellect rule

- - Spend an hour per week learning what competitors are doing.

- - Offer a reward for the best idea.

- - Work for organizations committed to training and learning.

Pounce every day

- - Live urgency

- - Make decisions faster

- - Work harder

Put values first

- - Don’t harp on numbers.

- - Lead by example.

- - Let values rule.

Manage less

- - Don’t get bogged down in meaningless details.

- - Manage less

- - Empower, delegate, get out of the way.

Involve everyone

- - Participate more

- - Make sure everyone feels free to speak out.

- - Suggest an informal brainstorming session.

Rewrite your agenda

- - Do not plan years ahead.

- - Develop alternative plans and options.

- - Expect the unexpected.

Live speed

- - Don’t “sit” on decisions.

- - Communicate faster.

- - Incorporate speed into every activity/process.

Instill confidence

- - Let people know that you value their ideas.

- - Simplify the workplace.

- - Focus on training.

Set stretch goals

- - Reach for the unreachable.

- - Forget decimal points.

- - Don’t punish yourself – or anyone else – for falling short of a stretch goal.

Eliminate the boundaries

- - Seek out new ideas from everyone.

- - Be sure to look outside the company for good ideas.

- - Never stop eliminating boundaries.

Articulate a vision

- - Write down the vision.

- - Avoid the minutiae.

- - Hire and promote those most capable of turning visions into reality.

Get good ideas from everywhere

- - Don’t think you or your company have all the answers.

- - Study competitors.

- - Make sure everyone around you knows that you are interested in all ideas, regardless of where they come from.

Spark others to perform

- - Never bully or intimidate.

- - Make sure to use all the intellect.

- - Make sure everyone knows that the best idea wins.

Quality is your job

- - Take great pride in your work.

- - Seek out quality training

- - Never think that quality is someone else’s job.

Change never ends

- - Face reality and know that change is here for good.

- - Suggest an informal “change meeting”.

- - Think short-term and long-term change.

Have fun

- - Make informality a way of life

- - Find a job that challenges you.

- - Don’t stay in the same job forever.

That was an excellent read and hope the senior management shall benefit in an umpteen way from this read.

Meera



Chrm Message From: aishwaryaroy Total Posts: 46 Join Date: 18/10/2006  
Rank: Executive Post Date: 25/11/2006 03:55:27 Points: 230 Location: United States

Jack Welch had followed a tough system for evaluating performance of his employees.It is called "Rank & Yank" model.

The concept of "rank-and-yank" system of management, whereby 10 percent of workers are fired at each evaluation was strongly advocated by Jack Welch, former CEO of General Electric Co.

Jack Welch’s “Rank – and – yank” model has been described as a "20-70-10" system. The "top 20" percent of the work force is most productive, and 70% (the "vital 70") work adequately. The other 10 percent ("bottom 10") are non-producers and should be fired. Rank-and-yank ideologues credit Welch's rank-and-yank system with a 28-fold increase in earnings (and a 5-fold increase in revenue) at GE between 1981 and 2001.

Ash 

 
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