General Electric employee workplace reviews at all-time low as Flannery is replaced at CEO
Today, General Electric ($NYSE:GE) announced that it will replace CEO and Chairman John Flannery with board member H. Lawrence Culp Jr., the former CEO of medical device manufacturer Danaher.
Over the past year, shares of the company declined by 33%, as it has tens of billions of outstanding debt and was also recently ousted from the Dow Jones Industrial Average in favor of Walgreens Boots Alliance ($NASDAQ:WBA).
After Flannery took the reins of GE in August 2017, his CEO approval rating immediately dipped to 82% and continued to decline until his termination on October 1.
According to anonymously submitted reviews on Glassdoor, employees have been more doubtful of the Boston-based multinational conglomerate's future since July 2017.
Right when Flannery became CEO, the average Business Outlook rating — what measures what employees feel the state of the company will be like six months from their review date —dropped below the neutral 50% mark. Today, it is flatlined at its all-time low of 34%, meaning the average outlook on the company is fairly murky.
Hiring still up despite red flags on GE's future
While GE's stock price, debt issues and employee-submitted reviews are all signs of concern, the company is at least still hiring at a healthy level.
At the end of September, there were eight dates that had the most GE job listings on its website. From September 20 to September 30, the average number of open positions at GE was just under 5,500 total listings, which is more than any other stretch of time since we started tracking its listings in May 2017.
That all came after a dip in hiring in early September, which makes for one roller-coaster ride of a month for GE. In other words, within one month, hiring at General Electric dropped 13.8% from August 31 to September 8, then climbed back up 19.25% from September 8 to September 30.
Hiring overall is up across the board for the company's most needed positions, such as Software Engineers and Biomedical Technicians, when looking at what the company was hiring for as of September 30 compared to what it was looking for on September 8.
|Title||Number of Openings Sept. 8||Number of Openings Sept. 30|
|Sr Software Engineer||84||88|
|Staff Software Engineer||44||52|
|Field Service Engineer||22||25|
|Staff Technical Product Manager||18||22|
|Sr Staff Software Engineer||16||20|
|Field Service Technician||16||17|
|Biomedical Technician II / 2||8||19|
|Sr Quality Assurance Engineer||13||16|
Along with its new CEO track record at Danaher — Culp turned around the medical device manufacturer, increasing its revenues to $20 billion in 2014 after 14 years righting the ship — this steady increase in new hires shows some signs of hope for General Electric in the middle of its 126th year of operation.