Retention: Money, Managers, and Development

There’s no instruction manual for how to be a CEO, and that role has undergone massive change in recent decades. So how do the leaders of great corporations today prepare themselves to make the hard decisions?

Jeff Immelt, former CEO of GE and now current instructor at Stanford University, shares some of his top lessons on leading a major corporation in his book, Hot Seat: What I Learned Leading a Great American Company.

Jeff joins Greg to reflect on his long career at GE, discussing his sense of belonging and the changing nature of career expectations, especially among today's youth. They delve into the intricacies of being a CEO, the differences between traditional and modern management practices, and the importance of both depth and breadth in business expertise. Jeff shares insights on organizational design, the importance of listening, and the critical role of teaching and continual learning in leadership.

*unSILOed Podcast is produced by University FM.*

Episode Quotes:

What actually makes people stay, grow and perform in a company.

07:36: Every company I work with, you know, I said, why do people leave? Right? Because there is a finite number of options and all this other stuff we can give people. And basically money counts for sure. But the second reason why people leave is I have a bad manager. The third reason why people leave is I am not getting any better. I am not getting any training, I am not getting any coaching. I am just like a work unit, and so those are the things we have to solve for. I think if we really want to turn back on the productivity engine of the next era.

Every job looks easy till you're the one doing it

38:41: Every job looks easy till you are the one doing it, right? So when you step in, do not come in and say, “This person stunk. I am the new sheriff. Everything is going to be great.” Just keep your mouth shut and do your job.

Every good leader has three voices

39:42: One of the things, Greg, that I teach, particularly founders, on is I say, look, every good leader has to have three voices, right? You need to be able to have the all-employee meeting, right? You need to be able to stand up to 400 people and communicate to 4-0-0 people. You need to be able to run a meeting, and you need to be able to give one-on-one feedback. And you know, those voices, the vocabulary is very different, right? In terms of how you motivate people in those three settings. And I try to give them examples of, you know, what they can work on, and, and very few people are really good at all three. But a lot of people give up at one, and it is hard to be a good leader. It is hard to be a good leader if you cannot traverse those three settings.

Show Links:

Recommended Resources:

• Inside Crotonville | GE
• David L. Joyce
• Sam Bankman-Fried
• Bill Ruh
• Stephen A. Schwarzman
• Lean Six Sigma
• AT&T Labs
• Ross Perot

Guest Profile:

• Faculty Profile at Stanford University
• Professional Profile on LinkedIn

Guest Work:

• Hot Seat: What I Learned Leading a Great American Company

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