Report on GENERAL ELECTRIC
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Report on GENERAL ELECTRIC Document Transcript

  • 1. Executive Summary: The General Electric Company is an American multinational corporation incorporated in the State of New York. The Company operates through five segments: 1. Energy Infrastructure 2. Technology Infrastructure 3. NBC Universal 4. Capital Finance 5. Consumer & Industrial Products The role of human resource management has evolved in recent decades. HRM no longer just includes a supportive administrative function, relating to the organization’s human resource transactions that are essential to its day-to-day operations. HRM is also, in GE strategic function, where human capital is openly and importantly factored into the organization’s corporate planning and strategy decision-making processes. With this comes increasing recognition that senior HR professionals need to engage in corporate strategic discussions, as advisor and partner of the executive management team. At the same time, it behaves HR professionals to ensure that human resource transactions are completed competently and efficiently, in accordance with GE policies. It identifies four roles in a modern and service oriented HR function, whereby HR of GE professionals ensure that Line manager friendly systems and procedures are available to help management staff execute their people management role. For analytical purposes, these are the various HR roles into the following functions or activities. 1) HR strategic planning 2) Organizational design 3) Diversity management 4) Recruitment, Hiring and Orientation 5) Performance management 6) Staff development 7) Remuneration and rewards 8) RISKS AND OPPORTUNITIES IN HUMAN RESOURCES Page 1
  • 2. Why we choose GE: We have chosen GE because as we have found that GE and its employees are committed to being a good corporate citizen through high ethical standards, leadership in corporate governance, environmental compliance and community engagement. GE continues to earn the respect of the business world. Once again, GE topped Fortune magazine’s top 500 companies. It holds 4th position consecutively for the second time. GE is recognized as being among the worlds best-run companies and was named the Worlds Most Respected Company for 2010 for the sixth consecutive year by the "Financial Times". GE was also presented with the Catalyst Award 2004 and 2009 for its innovative, effective and measurable initiatives to advance women employees. GE has a long and proud history of supporting the communities where its employees live and work. Contributing more than $140 million and over one million volunteer hours worldwide in 2010, GE is making an impact in local communities, educational standards and the environment in its communities all over the world. Page 2
  • 3. Introduction About GE:GE International: "As one of the world’s most diverse and best performing global enterprises - recognized repeatedly for leadership and innovation - they offer their employees an environment where what they can imagine that they can make it happen, developing new technologies and services to grow their businesses.About the company: GE traces its beginnings to Thomas A. Edison, who established Edison Electric Light Company in 1878. In 1892, a merger of Edison General Electric Company and Thomson- Houston Electric Company created General Electric Company. Today GE is a diversified technology, services and financial services company with operations in more than 100 countries and with over 287,000 employees worldwide. The Company has 11 global businesses, ranging from Advanced Materials, Commercial Finance, Consumer Finance, Consumer and Industrial, Energy, Equipment and Other Services, Healthcare, Infrastructure, Insurance, NBC Universal, and Transportation. GE is a company where possibilities are unlimited. It also tells us that we can change jobs, change industries, even change career direction, without ever changing companies. Our diversity provides limitless educational opportunities, which is unmatched in world business. They invest $1 billion per year in training their people.Brand worth: The General Electric Company, or GE (NYSE: GE), is an American multinational corporation incorporated in the State of New York. The Company operates through five segments: Energy Infrastructure, Technology Infrastructure, NBC Universal (NBCU), Capital Finance and Consumer & Industrial. In 2010, Forbes ranked GE as the worlds second largest company based on a formula that compared the total sales, profits, Page 3
  • 4. assets, and market value of several multinational companies. The company has 287,000 employees around the world: GE has the fourth most recognized brand in the world, worth almost $48 billion CEO Jeffrey Immelt had a set of changes in the presentation of the brand commissioned in 2004, after he took the reins as chairman, to unify the diversified businesses of GE. The changes included a new corporate color palette, small modifications to the GE Logo, a new customized font (GE Inspire), and a new slogan, "Imagination at work" replacing the longtime slogan "They Bring Good Things to Life",. The standard requires many headlines to be lowercased and adds visual "white space" to documents and advertising to promote an open and approachable company.Founders:Thomas Alva Edison: (February 11, 1847 – October 18, 1931) He was an American inventor, scientist, and businessman who developed many devices that greatly influenced life around the world, including the phonograph, the motion picture camera, and a long-lasting, practical electric light bulb. Dubbed "The Wizard of Menlo Park" (now Edison, New Jersey) by a newspaper reporter, he was one of the first inventors to apply the principles of mass production and large teamwork to the process of invention, and therefore is often credited with the creation of the first industrial research laboratory. Edison is considered one of the most prolific inventors in history, holding 1,093 US patents in his name, as well as many patents in the United Kingdom, France, and Germany. He is credited with numerous inventions that contributed to mass communication and, in particular, telecommunications. Edison originated the concept and implementation of electric-power generation and distribution to homes, businesses, and factories – a crucial development in the modern industrialized world. His first power station was on Manhattan Island, New York Page 4
  • 5. Elihu Thomson: (March 29, 1853 – March 13, 1937) He was an engineer and inventor who was instrumental in the founding of major electrical companies in the United States, the United Kingdom and France.Edwin J. Houston: (Alexandria, Virginia 1847– New York 1914) He was an American electrical inventor. He graduated from New York Central High School in 1864. While teaching physics at Central High School in Philadelphia (a degree- granting institution rather than an ordinary high school), he helped design an arc light generator with his former student colleague Elihu Thomson. Together, they created the Thomson-Houston Electric Company in 1879. In 1892, Thomson-Houston merged with the Edison General Electric Company to form General Electric, with management from Thomson-Houston largely running the new company. In 1894, Houston formed a consulting firm in electrical engineering with Arthur Kennelly. Houston was twice president of the American Institute of Electrical Engineers. He died from heart failure in 1914.Charles Albert Coffin: (Fairfield, Maine, 31 December 1844 - 14 July 1926) He was the first President of General Electric Corporation, which he helped to found. In 1883, he was approached by another Lynn businessman, Silas A. Barton, to bring to town a struggling electric company from New Britain, Connecticut, finance it and to lead it With the engineering work of Elihu Thomson, Coffin was able to build the company, renamed Thomson-Houston up to be an equal to Thomas Edisons companies. During this time they deployed power plants in the South, including two in Atlanta, Georgia to run the electric light and in 1889, Joel Hurts electric streetcar line. When General Electric was formed from Thomson-Houston and Edisons companies, Coffin was its first chief executive officer. The company was tested quickly during the Panic of 1893, where Coffin negotiated with New York banks to advance money in exchange for GE-owned utility stocks. Page 5
  • 6. Research MethodologyObjective of the Study:  To present an overview of recruitment activities of GE group  To identify the problem facing by GE group in case of recruitment process and suggest corrective measures.Data Collection: We have collected both primary and secondary data with a pre-designed form to conduct our study. 1. Primary date collected through: a) Questionnaire method 2. Secondary data collected through: a) Internal source b) Company HR strategy c) Company Statistics 3. External Sources a) Journal and internet b) Other official sources and records Page 6
  • 7. HR Department of GE: The human resources are the most important assets of an organization. The success or failure of an organization is largely dependent on the caliber of the people working therein. Without positive and creative contributions from people, organizations cannot progress and flourish. In order to achieve the goals or the activities of an organization, therefore, they need to recruit people with requisite skills, qualifications and experience. While doing so, they have to keep the present as well as the future requirements of the organization in mind. Human Resource Department of GE performs the most important task of recruiting the right personnel for the right job and it is not only responsible for recruiting personnel that are required by the company, but also for the training that may be needed to develop the employees. Human Resources Management department plays a vital role to the organization success. Now a day, Manpower is considered as a valuable part for the efficient productivity of an organization. But it is very tough & challenging job for efficiently dealing with various manpower’s. Human Resource Department does this challenging job for every organization through its regular and innovative HR activities. In This paper, we have tried to trace out one of the functions of HR i.e. Recruitment procedure of GE tried to identify problem facing by them in terms of Recruitment Process. Page 7
  • 8. Employees of GE: The total numbers of employees in GE is 287,000 in 2010. In GE there are 186,550 males and 100,450 are female. Employee of GE Female 35% Male 65%Purposes and Importance: The purpose of recruitment is to provide a pool of potentially qualified job candidates. Specifically, the purposes are to:  Determine the present and future requirements of the organization in conjunction with its personnel-planning and job-analysis activities.  The pool of job candidates at minimum cost.  Help increase the success rate of the selection process by reducing the number of visibly, under qualified or overqualified job applicants.  Help reduce the probability that job applicants, once recruited and selected, will leave the organization only after a short period of time.  Begin identifying and preparing potential job applicants who will be appropriate candidates.  Induct outsiders with a new perspective to lead the company. Page 8
  • 9.  Infuse fresh blood at all levels of the organization.  Develop an organizational culture that attracts competent people to the company.  Search or head hunt/head pouch people whose skills fit the company’s values.  Devise methodologies for assessing psychological traits.  Search for talent globally and not just within the company.  Design entry pay that competes on quality but not on quantum.  Anticipate and find people for positions that do not exist yet.  Increase organizational and individual effectiveness in the short term and long term.  Evaluate the effectiveness of various recruiting techniques and sources for all types of job applicants.Recruitment represents the first contact that a company makes with potentialemployees. It is through recruitment that many individuals will come to know acompany, and eventually decide whether they wish to work for it. A well-planned andwell-managed recruiting effort will result in high-quality applicants, whereas, ahaphazard and piecemeal effort will result in mediocre ones. High-quality employeescannot be selected when better candidates do not know of job openings, are notinterested in working for the company and do not apply. The recruitment processshould inform qualified individuals about employment opportunities, create a positiveimage of the company, provide enough information about the jobs so that applicantscan make comparisons with their qualifications and interests, and generate enthusiasmamong the best candidates so that they will apply for the vacant positions. Page 9
  • 10. Sources of the Recruitment: Job opening can be filled internally, externally, employee references and online by the HR department of GE. When job opening cannot be filled internally then the HR department fills it from the other sources like External, employee references and online source and that is from paper Ads, job agencies, educational institutions etc. GE prefers outsourcing its employee. The following sources of recruitment percentage of GE. 1) Internal Sources 2) External Sources 3) Online Sources 4) Employees References Internal Online Sources Recruitment Sources 20% 15% Employees Ref 5% External Sources 60% Page 10
  • 11. Recruitment Procedures in GE:An eye on the future of GE group: Successful human resource planning is designed to indentify an organization’s human resource needs. GE‘s people are their most important assets. In human resources (HR) their culture is about empowering us, both to contribute to their business objectives and to achieve our own personal and career goals. They also keep an eye on the future with their Leadership behavior’s initiative aiming to indentify the next generation of leaders. HR’s overall function is to devise and implement strategies and policies to ensure that they have the right people with the right skills. Within that, there are numerous options for us.There are 4 ways to recruit the candidate from the different sources: Following are the sources of recruitment:  Internal source  External source  Online source  Employees reference sourceInternal source: General Electric (GE) may decide to move people into open positions on the basis of their suitable qualification, experience & supervisor’s recommendation. Alternatively the job can be advertised internally through an Internal Job Posting. An Internal job position need publicizing the open job to employees through the managers, e‐mail, communication meetings, notice boards etc. The employees of GE can apply for the job and then go through a selection process. The job posting lists the job feature and the eligibility criteria for applying to the position. Page 11
  • 12. The merits of sourcing candidates internally are:  There is no substitute for knowing the candidate’s performance and strengths.  Development with internal candidates you are likely to have a more accurate view.  Commitment levels of internal candidates may be higher  Internal candidates will have a better understanding of the organization and the industry and will take less time to settle down in the job.  Training & orientation time will be saved  Employee Morale will rise as they will see opportunities for job enhancement and growth.External source: It is not possible for General Electric (GE) to get all the employees from the current staff and a search for candidates. They start recruiting people from the other external sources.There are various sources of hiring candidates from the external market:  Advertisement  Placement Agencies/ Consultants  Educational Institutions  Recruiting from the MilitaryAdvertisement: It is an external source in which GE has got an important place in recruitment procedure. The biggest advantage of advertisement for the GE is that it covers a wide area of market and scattered applicants can get information from advertisements. Newspapers and Television are the mediums that are used by GE. Page 12
  • 13. Placement Agencies/ Consultants: At GE there are few professionals who look towards recruitment and employment of people, they recruit people from the private agencies and the individuals can apply for the job.Educational Institutions: GE also requires the fresh candidates while having the link with the professional Institutions. These institutions serve as an external source for recruiting fresh graduates. This kind of recruitment done through such educational institutions is called as Campus or institutions base Recruitment. GE has special recruitment cells which help in providing jobs to fresh candidates.Recruiting from the Military: GE has a long history of hiring enlisted military and expert and has appeared on GI Jobs Magazines Top Military Friendly Employers for the last five years. GE has dedicated a careers webpage to U.S. Military experts Careers and more than 35 recruiters participated in career fairs on military bases in 2010. Additionally, GE offers an entry- level leadership program, Junior Officer Leadership Program, designed specifically for military officers as well as supporting specialized programs.Online source:Applying online for a job at GE is simple. Following are the steps:  Upload your CV (resume) in the GE form  Complete your online registration  Complete the online questionnaire (in some Regions)  Submit your online application If you are applying for a specific job listing or program, locate it via the Job Search engine to see if there are any specific requirements for applying to that job or program. Page 13
  • 14. There are few things to be noted while completing the online form of GE:  There is no need to submit multiple resumes over a short time period unless a significant change occurs.  A cover letter is not required.There are also few steps which are very much necessary for the Candidate to apply for the jobat GE.  If candidate is identified as a good match for a current job opening, a member of the recruiting team will contact the candidate via e-mail or making phone call to conduct a first round interview. The focus of the interview is to determine candidate’s qualifications, interest and availability.  If candidate complete the first round interview successfully, they will be invited to a site interview. These interviews are often held at the location where candidate intend to begin their career with GE, but this is not always the case.  The most qualified candidates receive an offer from GE. This typically occurs shortly after the site interview. Candidates will receive a written offer that details the position, salary, start date and sometimes, relocation assistance.Employee references source: GE has structured system where the current employees of the organization can refer their friends and relatives for some position in their organization. Also, the office bearers of trade unions are often aware of the suitability of candidates. Management can inquire these leaders for suitable jobs. In GE these are formal agreements to give priority in recruitment to the candidates recommended by the trade union. Unskilled workers may be recruited at the factory gate these may be employed whenever a permanent worker is absent. More efficient among these may be recruited to fill permanent vacancies. Page 14
  • 15. A Career at GE is Opportunity for Life Long Learning: When you work at GE, you work with people who have a passion for excellence. Their obsession with finding better ways to do things creates exhilarating work environments. And to fulfill this desire, GE invests nearly $1 billion a year in career development for employees. Our boundless environment also supports "horizontal learning". Through GEs professional communities and networking forums, people talk to each other and share knowledge: sales people share leads; engineers share technologies; and people share ideas resulting in great innovations.Growth and Self-Direction: GE helps to map your career and move ahead. Youll have ongoing occasions to learn from mentors and peers for dynamic career growth. Youll be amazed at the fluidity with which you can move from challenge to challenge, within a specific business or across businesses.Performance Feedback and Coaching: GE is proud of its annual performance and career review processes. Youll meet with your manager for feedback on your performance. Through coaching and planning, your manager will help you shape an action plan to achieve your short-term and long-term career goals.Career Development: Mentoring is a developmental relationship that fosters personal and professional growth. The best mentoring partnerships are formed when you take the initiative. Talk to your peers, search out people with experience you can learn from, and talk to your manager. Page 15
  • 16. Managers are excellent resources for information about career development. They have often been in the same position as you, and can provide valuable insight on what you need to achieve your full potentialAbility Edge Internships: Ability Edge, a Career Edge program that serves as a national youth internship strategy. This program offers six-, nine- and twelve month paid internships to graduates with disabilities in effort for interns to gain work experience, learning, coaching and networking. At GE since we believe the value of diversity is that it promotes innovative thinking and more creative ideas, the Ability Edge program is another avenue for GE to explore and reinforce our commitment towards it.Leadership Development The Corporate Leadership Development groups mission is to run training programmers to develop high-performing leaders, introduce and drive cultural change, and spread key corporate initiatives. These programmers can be held at business-owned training facilities like the GE Energy Learning Center in Florence, Italy or at our head quarters in Brussels. Such facilities bring people together to work, learn, and share across boundaries. It is also where we introduce newly acquired companies to our culture, offering them a network of peers enabling them to share best practices and business successes. GE also offers intensive management training through special leadership programmers. These programmers are designed to accelerate learning for high performing employees, using a variety of methods from e-learning to action learning, from boot camps to leadership summits. A core curriculum is managed at a corporate level, but each GE business complements these with business specific just-in time learning opportunities. Page 16
  • 17. All Leadership development programmers have similar core objectives:  Teach employees- focusing on leadership.  Communicate and strengthen our employees commitment to GE and the GE Values.  Build bridges across boundaries by letting people interact across businesses, functions, and hierarchies.  Enhance our customer focus; build relationships with strategic customers and other key stakeholders. GE works at being a true learning organization instill learning not only as part of the everyday work life but also counting on employees to help train their colleagues in their field of expertiseFactors Affecting Recruitment:The following are the Two important factors affecting Recruitment:-Internal Factors:  Recruiting policy  Temporary and part-time employees  Recruitment of local citizens  Engagement of the company in HRP  Company’s size  Company’s growth and expansionExternal Factors:  Supply and Demand factors  Unemployment Rate  Labor market conditions  Political and legal considerations  Social factors  Economic factors  Technological factors Page 17
  • 18. GE in Pakistan: In 1985 Syed Bhais joined hands with world leader in technology M/s GENERAL ELECTRIC, USA, by signing a Technical Services Agreement for the manufacturing of kwh electricity meters and has got the honor to represent GE in Pakistan for various products and solutions. With branding agreement in 2005 Syed Bhais started exporting energy meters with GE brand.On the behalf of GE Syed Bhais represents:  GE Energy  GE Multilin  GE Consumer & Industrial goods  Export of Meter Parts from GE  GE Branding AgreementThe company is presently structured in three businesses:  Metering &AMR  Transmission and Distribution  Lighting and Components Page 18
  • 19. Conclusions: The globalization of business is forcing manager to struggle with compiled issues as they seek to gain or sustain competitive advantages. GE is the one of the large group of companies in the world. They enjoy outstanding recruitment practices in each successful employee recruited. So, their recruitment is better fits in their work group. They also share values, traits and behaviors that are highly regarded for success in the organization. They reach the qualified applicants through the use of innovative recruiting channels. Traditionally, employers have focused on assessment methods that are highly correlated to the content of the job, hence most able to predict ability to perform the required duties and tasks. However, GE has come to realize that success of the candidate hinges on more than just the ability to carry out tacks and duties well. The foundation of superior performance lies in the synergy created by a close fit with the work group and with the organization’s culture. No process is complete without evaluation of its success. Page 19
  • 20. Recommendations: GE is a global company. The achievements made by the company over the last couple of decades show the firms commitment to achieving global presence in all corners of the world.There are following recommendations which are improved by GE in their recruitmentprocess.  Internal candidates of GE who don’t get the job may get demovitaded.  Telling unsuccessful candidates why they were rejected and what corrective action they need to take is critical. This needs to be done carefully and requires the managers’ and Interviewers’ time.  There are a lot of candidates of GE who apply for the position and interviewing all of them can be a time consuming exercise.  In the General electric company those candidates who move into the new role may find it difficult to gain acceptance from a Group of previous peers.  It is mostly seen in the General Electric Company when a lot of managers come up through the Ranks, they may have a tendency to maintain status ego, even when a new direction is required.  Establish relationships with employees outside the country. There are certain people who have experience in a particular area. They enjoy goodwill and a stand in the company. There are certain vacancies which are filled by recommendations of such people. The biggest drawback of this source is that the company has to rely totally on such people which can later on prove to be inefficient Page 20
  • 21. Reference:Fundamentals of Human Resource Management 8th ed.David A. Decenzo, Stephen P. Robbinswww.wikipedia.orgwww.gepower.comwww.geae.comwww.geindustrial.comwww.gehealthcare.comwww.ge.com.pkwww.syedbhais.comSyed Bhais Pvt. Ltd200-Firozpor Road,Mr.Khwaja Asif Naeem0300-6334033HR ManagerLAHORE. Page 21