GE Reviews Idea of Annual Pay Raise

The video discusses GE's ongoing cultural shift towards being more responsive and nimble, akin to a startup. It explores alternatives to traditional raises, such as flexible work arrangements, and the challenges of ensuring fair compensation. GE is reviewing its performance review process and has tested changes with a pilot group. The video also touches on GE's historical practices, like the 'rank and yank' system, and their influence on corporate America. Finally, it outlines GE's future plans and timelines for potential changes in compensation as they move their headquarters to Boston.

What is one of the main goals of GE's cultural shift?

• To focus solely on monetary raises

• To reduce employee numbers

• To become more like a startup

• To increase bureaucracy

What is a potential challenge when offering non-monetary benefits?

• Ensuring all employees receive the same benefit

• Increasing the number of employees

• Focusing only on monetary compensation

• Reducing the number of work hours

How is GE testing new performance review systems?

• By implementing them company-wide immediately

• By using a pilot group before wider rollout

• By focusing only on senior management

• By voting among all employees

Which program did GE pioneer that was widely adopted by other companies?

• Rank and Yank

• Six Sigma

• Annual Raises

• Flexible Work Hours

What is the timeline for GE's decision on annual raises?

• In the next couple of years

• In the next couple of months

• Immediately

• No decision will be made