Talent Development Quote - Jack Welch

GE is facing some current challenges in the market however from 1981 through 2001 under CEO Jack Welch GE’s market cap (value) grew 18% compounded annually from $14B to $410B.

D. Brown Management Profile Picture
Share

A large part of this profitable growth was due to the rigor placed on their talent development processes directly from the CEO.  

Quote: My main job was developing talent. I was a gardener providing water and other nourishment to our top 750 people. Of course, I had to pull out some weeds, too. Jack Welch, Retired Chairman & CEO of GE

Even in the early years of his tenure while having to cut expenses in many areas Jack Welch invested heavily in expanding GE’s talent development programs.  Many of these philosophies, tactics and tools can be used by contractors:

  • Differentiation is critical for attracting, retaining and developing top talent.  
  • Put a great business leader such as Bill Conaty in charge of talent giving them an equal seat on the executive team.
  • Use tools similar to the “GE Workout” to stretch your team and develop their leadership capabilities. 
  • Other tools used by Jack Welch are included in The GE Way Fieldbook. 
  • Larry Bossidy and Ram Charan discuss some of the talent processes including a scorecard and providing feedback in Execution. 

Talent development is difficult and requires making some very tough decisions.  It is the contractors that build robust talent processes today that will dominate tomorrow.  


Labor Productivity
Field labor is the often the biggest variable on a construction project - making it the biggest risk and opportunity....

Labor Productivity
Field labor is the often the biggest variable on a construction project - making it the biggest risk and opportunity....

Marketing Your Preconstruction Services to Owners and Architects
Learn how to effectively market your Preconstruction Services and CM@Risk as a project delivery method to owners and architects starting with being well prepped for the interview process.
Retirement Onboarding - The Ideal Lifestyle for the Retiring Contractor
Work-life balance has probably mostly been work. Now is the time to see that work-life balance is really all about life.
Failure is a Potent Teacher
Failure is a very potent teacher for construction contractors if: