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Immelt Gives Keynote Address at SACC

GE's chairman and CEO Jeff Immelt gave the keynote address in Washington, D.C., on May 8, 2009, at the Service Academy Career Conference.

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[The world's tough but manageable.]

[[Jeff Immelt - Chairman & CEO, GE]]

[GE is going to win, as will many companies. We're going to do fine.]

[[Service Academy Career Conference - Washington, D.C. - May 8, 2009]]

[We need leaders to be better.]

[And so that comes to why I'm here today and why you're here today.]

[I would say that in our world of GE, veterans have had a very good fit with the company.]

[We've got 11,000 veterans that are a part of GE.]

[They're at every corner of the company in leadership posts throughout the company,]

[every age grouping.]

[One of the programs that you'll see in the job fair today]

[that has been very successful for us is the Junior Officer Leadership Program.]

[One of the things we've done over time is]

[a lot of our programs give people a chance to see different parts of the company]

[and different functions of the company,]

[and we think that allows you to transition, see the breadth of the company,]

[and find ways to build an appropriate career for yourself.]

[The JOLP program has been very effective for us over time]

[as a transition and training and as a way to move the company.]

[The word we use a lot in GE which is not going to be unfamiliar to you]

[is a meritocracy.]

[It kind of doesn't matter where you're from.]

[We do this process every year that is--]

[We do a very formal--]

[Everybody in the company gets an appraisal,]

[and it gets reviewed and approved inside the company in a very formal way,]

[and then I probably review personally the internal resumes of maybe 2,000 people]

[in the company at different levels and different businesses myself.]

[And I can honestly say as I go through these appraisals]

[I never look at where somebody went to school,]

[I never look at how long they've worked for GE,]

[I never look at anything except how they're doing.]

[Are they achieving? Are they leaders? Are they learning?]

[Are they doing the things the way they're supposed to be doing them?]

[It's really a company that's based on merit.]

[So the JOLP program is really important, and we try to make it an effective program]

[for our teams.]

[There's a way you've learned to do things that's worked for you in the military,]

[and there's a way you can do things that works at GE or in business.]

[They are actually quite similar.]

[It's the journey between the two that's sometimes hard for you.]

[In other words, how do you do the recruiting, how do you pick the company,]

[how do you get from that first job in the door to the one you really want to do?]

[A and C are actually very similar; it's B that's different.]

[And that's sometimes I think what we've tried to do with our teams]

[is help them make that journey and show them where they need to go.]

[So I think the way that we've recruited in the Junior Officer Leadership Program]

[is the way I would leave you today, ]

[which is to say by virtue of the fact you're in this room,]

[you are extraordinary.]

[You've done extraordinary things in your lifetime.]

[That is fantastic, and congratulations for that.]

[What we've tried to do is match an extraordinary company]

[and extraordinary job experience with a set of leaders that have that capability.]

[And in this incredibly changed world,]

[where companies not only have to be profitable for their investors,]

[be a good place to work for their employees,]

[have to deliver value for their customers,]

[have to solve public problems,]

[but also have to fight to rebuild their reputation,]

[that is a pretty good background for a lot of people here]

[to leave the military and flourish in the careers that you pick.]