Otis Singleton
General Electric Company (GE) is an American multinational conglomerate founded in 1892 and incorporated in the state of New York. GE has a diverse range of business activities, including aerospace, energy, healthcare, lighting, locomotives, appliances, and finance. The company has a rich history, including involvement in Britain's National Grid and contributions to the Allied war effort during World War II. GE has also faced challenges, such as accusations of promoting an illegal cartel and environmental concerns. In recent years, GE has undergone restructuring, spinning off various divisions, and focusing on aviation. With a global presence and a commitment to innovation, GE continues to be a significant player in multiple industries. Effective human resource management and talent acquisition strategies are crucial for a company like GE, which operates in diverse industries and aims to maintain a competitive edge.
| Characteristics | Values |
|---|---|
| Global aerospace leader | 44,0000+ commercial and 26,000+ military aircraft engines |
| Global energy leader | 55,000 wind turbines and 7,000 gas turbines |
| Global healthcare leader | 1 billion+ patients served annually |
| Human resource management | 52,000+ employees |
| Headquarters | Boston, Massachusetts |
| Main offices | 30 Rockefeller Plaza, New York City |
| Divisions | Aerospace, healthcare, energy, lighting, locomotives, appliances, finance |
| Ranking | 64th in the Forbes Global 2000 (2023) |
| Revenue | ~$32 billion |
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What You'll Learn
GE's human resource management
General Electric Company (GE) is an American multinational conglomerate founded in 1892 and incorporated in the state of New York. GE has a diverse range of businesses, including aerospace, energy, healthcare, lighting, locomotives, appliances, and finance.
In November 2020, during the COVID-19 pandemic, GE announced it would be cutting jobs as it waited for a recovery. On November 9, 2021, the company took a significant step by deciding to divide itself into three public companies, each with a distinct focus: aerospace, healthcare, and energy. This restructuring led to spin-offs like GE HealthCare and GE Vernova, with GE retaining a small percentage of shares and gradually selling off the rest.
GE's human resources also contribute to the company's commitment to social responsibility and transparency. For instance, GE HealthCare, with its approximately 50,000 employees, emphasizes advancing personalized, connected, and compassionate care in the healthcare industry.
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GE's history
General Electric Company (GE) is an American multinational conglomerate founded in 1892 and incorporated in the state of New York. It was founded following a series of mergers between various companies owned and operated by Thomas Alva Edison and the Thomson-Houston Electric Company. GE's logo—a blue circle with a white outline and the letters "GE" in the centre—has changed little since its creation.
GE has a long history of pioneering and innovative technological advancements across a wide range of sectors and industries. It has been at the forefront of medical technology R&D and manufacturing, contributing to advancements in X-ray machines, CT scans, and MRIs. In the 1950s, GE researchers achieved two laser breakthroughs with profound effects on manufacturing: Robert N. Hall demonstrated the first laser diode device, and Nick Holonyak, Jr. demonstrated the first semiconductor laser with a visible emission. GE also introduced the first completely automatic clothes washer and the first hermetically-sealed refrigerator.
In the 20th century, GE became a global powerhouse, reshaping industries with its technological innovations. In 1959, however, the company was accused of promoting the largest illegal cartel in the US since the adoption of the Sherman Antitrust Act of 1890 to maintain artificially high prices. This resulted in the conviction of 29 companies and 45 executives. Despite this setback, GE continued to expand and diversify. By 2011, it ranked 14th among the Fortune 20 as the most profitable company.
In the 2010s, GE faced financial setbacks, which forced the company to sell off major portions of its holdings, including its media, financial services, and consumer products divisions. In 2020, GE ranked 33rd among the Fortune 500 as the largest firm in the US by gross revenue. In November 2021, the company announced it would divide itself into three public companies: GE Aerospace, GE HealthCare, and GE Vernova. The new companies are focused on aerospace, healthcare, and energy solutions, respectively.
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GE's environmental impact
General Electric Company (GE) is an American multinational conglomerate founded in 1892. It has multiple divisions, including aerospace, energy, healthcare, lighting, locomotives, appliances, and finance. GE has had a significant environmental impact, both positive and negative.
On the one hand, GE has been implicated in large-scale air and water pollution. In 2000, researchers at the Political Economy Research Institute listed GE as the fourth-largest corporate producer of air pollution in the United States. The company was found to release over 4.4 million pounds per year (2,000 tons) of toxic chemicals into the air and has also been linked to the creation of toxic waste.
However, GE has also made efforts to improve its environmental sustainability and reduce its carbon footprint. In 2020, GE committed to a carbon neutrality pledge by 2030 for its Scope 1 and Scope 2 emissions. The company has formed an Employee Resource Group (ERG) called the Green Team Network, which aims to connect and motivate employees to lead sustainability initiatives. Additionally, GE Vernova, one of the three public companies that GE divided itself into, is focused on energy and is committed to helping lead the energy transition to renewable and lower-carbon energy sources. GE Vernova provides solutions such as wind power and Hydro Pumped-Storage to address grid stability and decarbonization.
GE Healthcare, another one of GE's spin-off companies, also contributes to environmental sustainability by providing efficient and integrated solutions to hospitals, simplifying the patient journey, and potentially reducing the environmental impact of healthcare operations.
Overall, while GE has had a mixed environmental impact, it appears to be taking steps towards improving its sustainability and reducing its carbon emissions.
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GE's business divisions
GE has had multiple divisions over the years, including aerospace, energy, healthcare, lighting, locomotives, appliances, and finance. The company has, however, shrunk in recent decades, spinning off or selling many of its subsidiaries.
GE's remaining business segments are GE Aerospace, GE Healthcare, and GE Vernova. GE Aerospace designs and manufactures commercial and military aircraft engines, engine components, and electric power and mechanical aircraft systems. It also offers aftermarket services to support its products. GE Aerospace has an installed base of more than 44,000 commercial and over 26,000 military aircraft engines.
GE Healthcare is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator. It provides integrated solutions, services, and data analytics to make hospitals more efficient, clinicians more effective, therapies more precise, and patients healthier and happier. GE Healthcare's Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics businesses help improve patient care from diagnosis to therapy to monitoring. It is an $18.3 billion business with 50,000 employees.
GE Vernova is a planned, purpose-built global energy company that includes Power, Wind, and Electrification businesses. It is supported by its accelerator businesses of Advanced Research, Consulting Services, and Financial Services. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. It is headquartered in Cambridge, Massachusetts, and has more than 80,000 employees across 100+ countries.
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GE's talent acquisition
GE Talent Acquisition plays a crucial role in identifying and hiring individuals with the skills and expertise needed for various roles across the organisation. The talent acquisition team is responsible for understanding the unique requirements of each business division and finding candidates who align with GE's values and culture.
The talent acquisition process at GE involves several steps, including job analysis, recruitment planning, candidate sourcing, screening, interviewing, and selection. The team collaborates closely with hiring managers from different business units to ensure a comprehensive understanding of the required competencies and qualifications for each position.
Additionally, GE prioritises diversity and inclusion in its talent acquisition efforts. They aim to create a diverse and inclusive workforce that reflects their global presence and customer base. GE recognises the value of diverse perspectives and talents, which contribute to innovation and business success. The company actively promotes equal opportunities and encourages applications from individuals of all backgrounds.
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Frequently asked questions
General Electric (GE) has multiple divisions, including aerospace, energy, healthcare, lighting, locomotives, appliances, and finance. The company has since divided itself into three public companies: GE Aerospace, GE HealthCare, and GE Vernova.
GE's human resource approach is considered the heart of the organization. The company utilizes a talent philosophy for its human resource strategies, aiming to acquire and develop a group of employees that are the best in their field. GE's future leader's workshop program is an activity that focuses on high-potential employees, providing them with the tools to enhance their leadership knowledge.
In 2020, GE ranked 33rd in the Fortune 500 as the largest firm in the United States by gross revenue. In 2023, the company was ranked 64th in the Forbes Global 2000.
During the 1890s and 1900s, GE heavily invested in electric lighting, which proved to be a very profitable sector. In 1893, the company decided to invest in lamp manufacturing, and by 1909, GE (under the name Osram) was leading the way in lamp design.
