Assignment #2 – GE Money America Case Study
GE Money America (formerly GE Consumer Finance) is the consumer finance brand for GE Consumer Finance worldwide. With more than $163 billion in assets, GE Money is a leading provider of credit services to consumers, retailer, and auto dealers in fifty countries around the world. GE Money Americas offers a range of financial products, including private-label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans and credit insurance. (Goldsmith, 2010) 1. Provide a brief description of the status of the company that led to its determination that a change was necessary. Three things led to the determination that a change was necessary at GE Money America:
(1) Staffing Dilemma - the cost per hire averaged more than $8,000 and the time to fill a position typically exceeded three months was an unsustainable process for GE Money Americas. The use of a decentralized staffing process and inconsistent interview practices also contributed to the staffing dilemma.
(2) Technology – existing technologies did not enable them to execute a highly successful, high-volume recruiting program with the ability to produce metrics on demand.
(3) Strategy Sourcing – although the internet was and remains an important weapon in recruiting, GE money Americas want to find a more successful channel or advertising media to increase the flow of candidates. Also, they wanted to improve the they tracked their advertising spending in order to accurately calculate cost-per hire and manage their annual budget. (Goldsmith, 2010) 2. Identify the model for change theory typified in the case study of your choice. The model for change theory typified in GE Money was an outsourcing DIME model. Regardless of what model an organization uses, the model should have five main processes to ensure that necessary talent is available to achieve their...
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