I heard that even untouchable sacred cow that is Corporate Audit Staff is facing a reduction in intake numbers. Any truth to this guys?
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CAS is a joke. For some time now, you have only been able to fill open jobs with CAS grads. Unfortunately, this leaves stupid calls everywhere —like having finance people run digital orgs and teams! Mind you, they have NO IT background AT ALL. No wonder our digital teams are suffering.
Culture doesn’t change because you hire 100 or 10000 auditors. They are not there everyday. Culture is defined by local leaders who are knowledgeable, empowered and have their leadership giving a damn in actions (not just lip service). This requires GM level leaders are competent and not changing jobs every year.
JRI did lot of good changes for the company but did not know how to fill ranks with business savvy leaders. When complaints piled up, he likely thought cS (CAS, CTS) programs will give them insights at HQ to fix the issues. They increased funding to a point the CS leaders refused to hire more people since they couldn’t onboard them fast enough. This doesn’t build trust needed between business leaders and HQ if you got your own “spies” checking up. At least on its face, this could explain the surprise earnings report in Q3 - who is responsible for accuracy of data? CAS or leadership? When more than one person is in charge, no one is on charge.
CAS had some very good people and did what they were asked to do.
You need checks and balances, but USSR (or China) style central planning model doesn’t work for ever. Pace of change will catchup to ability of org to react. (E.g., renewable adoption). Only solution is give your front line people clear long term strategy and freedom to innovate.
Now time to move on and build a new kind of organization that operates on trust and data. Need some operations folks from outside GE to fix.
Never heard of CAS conferences being at Boca, not too sure what OP is on about. That said, heard they are reducing numbers by 30%.
They do it in Boston instead of Boca this year.
Role of CAS: Responsible for providing independent, objective assurance on the financial integrity of the company.
They failed. For years. Do we have financial integrity? It's a sham.
Well they should cancel Boca ..there is not much to talk about these days and they would save many $$ on not hitting the little white ball around down south. Funny when a business shrinks or you sell off division after division ..the corporate ray ..rah sessions are no longer needed. Same goes for the executive organizers, not needed anymore. the typical lavish Christmas parties turn into after work mixer where you ask for $ / head to cover the party. This is where GE is heading ..they deserve it at GE corporate.
Folks, everything needs to be cut at GE, the last thing GE needs to get rid of are resources that know how to execute their job in a lean environment. Why do you need a CAS measuring and accessing a business that is down 50% due to normal cycles? Why do they need a bloated corporate staff charging overhead when you are now only concentrating on three core businesses? Why do you need a board of 12 members? Why do you need to hand out stock options to retain senior executives that should left years ago? It should be a interesting January Boca trip ...eh!
After experiencing many CAS audits, I only know of two findings that actually had a positive impact. Not much to show for the endless hours of my time that they wasted.
Ax time to CAS and any of the xxLPs. Just a bunch of bureaucratic self centered waste of money individuals with no real impact on output.
Good they are useless! Just like all the new GE staff that they held on to while they $hit canned the experience veterans of the company. No wonder why the company is taking a dive! They hire these college kids from a local fast food business then put them in these positions. The business world wonders why the quality of product dropped because they New college butt wipes have no clue. Thomas Edison already invented the light bulb, the generator GE does not need college kids trying to f—- it up!
Who cares get rid of them all.
The company downsizing by 25% why should they be immune?