GE's talent inventory tools and concepts have been Xi and applied to their own management by many companies, but the actual operation effect is different, so what are the success factors of GE talent inventory?In a 2014 article, GE's chief Xi officer said: "The core elements that really distinguish GE from other imitators are not the tools, scoring and technology, but the amount of time the organization invests in it, and the depth of the discussion about candidate rights and performance."
1. Senior managers' investment in talent development. The vast majority of GE's senior leaders, including CEOs, spend at least 30% of their working time on work related to talent development. CEO Welch also admits that he spends most of his time evaluating employees. It is the senior leadership's dedication to talent development that ensures GE's continued focus on talent inventory and leadership reserves, thus ensuring the effectiveness of talent inventory.
2. Pay attention to and prepare for the personal evaluation of employees. GE requires managers to take absolute responsibility for the growth of their employees, and requires managers to spend enough time to have in-depth discussions about the performance, values, potential strengths, future development projects and future development plans of their employees. The individual evaluation of the employee is the basis for an in-depth discussion in the subsequent talent review.
3. Create an open discussion environment and a centralized and in-depth discussion mechanism. The employee's supervisor, HR department, business unit manager and CEO will participate in the evaluation of the employee. The CEO sets the tone and expectations of the discussion, and the leaders of each business unit can provide opinions and feedback in their own business areas, so as to provide comprehensive and consistent results for the talent assessment of employees.
GE is open and factual in its assessment of talent, and when line managers do not accurately evaluate and feedback employees, they will be questioned by superiors and others, or even rejected by their evaluations.
4. Use tools that meet your needs. As GE's core talent inventory tool, it can help managers make an intuitive horizontal comparison of the possibility of employee promotion and development, while also avoiding the disadvantages of mandatory ranking and retaining the possibility of diversity in talent evaluation. In addition, the nine-square grid can also directly link the quadrant of talents with their evaluation and development results.
5. Establish evaluation criteria to distinguish greatness from excellence. Another core element of the success of GE's talent inventory is the establishment of evaluation criteria that can effectively distinguish talents, and constantly update and precipitate. Through years of talent inventory practice, GE believes that the difference between a great leader and a good leader is their judgment and decision-making ability. At the same time, GE attaches greater importance to the leader's desire to win, tenacity, customer consideration, and quick thinking.
[References].
1, Li Changcang, Zhao Shi. Talent Inventory: Create a talent-driven organization. 2018
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