HRM textbook

CHAPTER 8 TRAINING AND DEVELOPING EMPLOYEES 267
The next big thing: Whether it s productivity and quality improvement
through Six Sigma or innovation, GE focuses its employees on central
themes or initiatives.
Monthly dinners: Jeffrey Immelt, GE s CEO, meets periodically at dinners
and breakfasts to learn more about his top executives and to strengthen his
connections with his top team. 115
Perusing the development pages of GE s Website (http://www.ge.com/careers/
students/entry-level.html) illustrates the breadth of training and development
opportunities GE offers its employees. For example,
The Edison Engineering Development Program (EEDP) develops technical
problem-solving skills through advanced courses in engineering and technical
projects and presentations to senior leadership that are aligned with business
objectives.
The Financial Management Program (FMP) develops leadership and analytical
skills through classroom training and key assignments. Hands-on experience
may include financial planning, accounting, operations analysis, auditing,
forecasting, treasury/cash management, and commercial finance.
Talent Management and Mission-Critical Employees:
Differential Development Assignments
Probably the most distinctive talent management best practice is to actively manage
employees. In today s competitive environment, the traditional HR practice of allocating
pay raises, development opportunities, and other scarce resources more-or-less across
the board or based mostly on performance is no longer viable. Employers need to think
through how to allocate those resources in a way that makes the most sense given their
strategic aims. It therefore makes sense that talent management oriented employers
focus more of their development resources on their mission-critical employees, those
deemed critical to the companies future growth.
We ll look closer at how employers do this in the following chapter. However, it is
useful here to illustrate how employers implement this differential approach with
several training-and-development examples.
* A telecommunications firm previously spread pay and development money evenly
over its 8,000 employees. When the recent recession came, company leaders began
segmenting their talent into four groups: business impact, high performers, high
potentials, and critical skills. Then they shifted their dollars away from low performers
and those not making an impact. While the company lost some low performers,
the high performers and high potentials felt like they finally received recognition. 116
* One large manufacturer gives rising stars special access to online discussion
boards, led by the CEO, that are dedicated to the company s biggest challenges. It
encourages emerging leaders to visit the board daily to share ideas and opinions
and to apply for assignments. 117
* High potential participants in Johnson & Johnson s special LeAD leadership
development program receive advice and regular assessments from coaches
brought in from outside the company. As special projects, they also must develop
a new product or service, or a new business model, intended to create value for
their individual units. 118
in-house development center
A company-based method for exposing
prospective managers to realistic exercises
to develop improved management skills.
executive coach
An outside consultant who questions the
executive s associates in order to identify the
executive s strengths and weaknesses, and
then counsels the executive so he or she can
capitalize on those strengths and overcome
the weaknesses.