General Electric Company (NYSE:GE)’s Biggest Quest Is To Stay Relevant And Harness Young Human Capital
If there is something that concerns General Electric Company (NYSE:GE)’s CEO, Jeff Immelt, attracting young professionals it is. The CEO clearly knows where he wants to take the industrial bellwether, but the headache is that he still doesn’t have enough of millennials he desires in the company. The other issue that troubles Immelt is transitioning GE to more of industrial operations and less of financial operations.
There are major shifts taking place at General Electric Company (NYSE:GE) and Immelt disclosed during a recent interview that one of them is staying relevant in this digital age. Immelt admitted that he is still struggling to make the company the preferred place to work for young professionals.
The company dreams to have the riches of millennials as Google Inc (NASDAQ:GOOGL), Facebook Inc (NASDAQ:FB) and other startups. A recent survey showed that Google is the most preferred company for millennials, followed by Walt Disney Co (NYSE:DIS) in the second. Apple Inc. (NASDAQ:AAPL) is among the top-5 companies favored by young professionals.
Immelt said General Electric Company (NYSE:GE) will be setting up shops to recruit young professionals.
Shifting away from finance
Maintaining revenue growth and profitability at GE are at the core of Immelt’s plans for the company, and these goals give him sleepless nights.
In the recent times, General Electric Company (NYSE:GE) has been making efforts to return to the roots as majorly industrial company in the infrastructure and engineering sectors.
The company has been offloading its financial assets so that it can gain singular focus on core competencies. General Electric spun off its retail-finance unit into an entity called Synchrony Financial.
According to Immelt, GE is not turning away from financial operations simply because of the challenges witnessed during the Great Recession in 2008, but streamlining GE has long been his plan.
Perhaps the greatest headache for the CEO in wooing young professionals is making them see that General Electric Company (NYSE:GE) can change the world the same way they have seen the likes of Google and Facebook do.
Latest posts by Neha Gupta (see all)
- Is Facebook Inc (NASDAQ:FB) Winning Or Losing In Virtual Reality Space? - May 27, 2016 07:35 AM PST
- No Growth In Costco Wholesale Corporation (NASDAQ:COST)’s 3Q Comps Explained - May 27, 2016 07:34 AM PST
- How Will International Business Machines Corp. (NYSE:IBM)’s Big Data University Help? - May 27, 2016 07:33 AM PST