How GE used Speach for retirement management
General Electric Company (GE) is a Fortune 500 American multinational conglomerate headquartered in Boston, Massachusetts. With over 300,000 employees, the company operates in multiple industries including healthcare, energy and aviation. In 2017, GE was the 13th-largest firm in the U.S. by gross revenue.
GE expects to experience a higher than usual retirement rate over the next 10 years. With no structured knowledge transfer program in place, GE was at risk of not only losing these valuable employees, but also a wealth of accrued knowledge and experience.
Many workers, especially those on the production lines, possessed critical and specialized knowledge that, if lost would be costly, not to mention potentially impossible for the company to replace. Compounding this problem, GE noticed the amount of time for new employees to become proficient in the use of new technologies the production line was increasing. GE needed a solution that enabled a seamless transfer of knowledge in a format easily accessible for employees of all generations and skill levels.
GE turned to Speach, a cloud-based video knowledge transfer solution to help power sharing of technical skills.
Speach empowers training professionals and subject matter experts to create more engaging content. With Speach, anyone at
GE can easily record presentations, discussions or demonstrations to share as a piece of formal training content or with a colleague.
Speach has helped ensure that the knowledge inside the mind of senior employees will be preserved long after employees retire.
Micro-training videos help preserve institutional knowledge better than text, because it enables subject matter experts to actually show what they’re demonstrating while they document it.
Simplified Process Demonstrations
Senior subject matter experts used Speach to record end-to-end walkthroughs of the various processes and programs front line employees rely on every day. This provided new hires with an invaluable advantage for learning their roles and responsibilities, therefore improving thespeed at which they were onboarded.
Improved Access to Training Content
Speach is driven by a powerful search engine, enabling GE employees to quickly access educational training content when and where they need it. This accessibility has helped save time as works no longer need to scour a maze of file sharing drives or SharePoint presentations to find relevant training information. This is especially useful for new employees who are eager to be productive in their role.
Shared Tacit Knowledge
Senior employees are often the best reference for knowing which processes should be monitored ahead of time, which steps should be verified or double-checked, and which production components should be actively maintained. These tips, which have been informally shared amongst coworkers for years, can now benefit future generations of employees thanks to Speach.
An Educated Future
Speach has helped minimize the impact of retiring workers at GE by identifying knowledge gaps and transitioning successors into their new roles. As part of a new strategy knowledge transfer is now an explicit part of many jobs at GE. The new strategy incorporated with Speach’s technology, has also helped GE align their knowledge transfer activities with their business strategy. This has helped control costs, support growth, and improve innovation for many years to come.
"I've seen Speach revolutionize our retirement management. Its video tutorials have seamlessly preserved crucial knowledge from retiring employees, enhancing our training process. The platform's accessibility and efficient search engine have significantly improved operational efficiency, especially for new hires. Speach's role in sharing tacit knowledge and streamlining succession planning aligns perfectly with GE's strategic goals. Overall, Speach has become an indispensable tool in maintaining GE's operational excellence and innovation."
Travel and logistics costs are drastically reduced thanks to online training
Skill improvement guarantees the operational excellence of all employees
All employees are onboarded through Speach video tutorials
Speaches enable continuous learning and can be accessed on desktop, tablet or smartphone
