GE Capital’s CIO, Jim Fowler, suggests that smaller teams can boost productivity in larger companies. GE Capital has implemented a new approach, breaking down its workforce into small groups, each with a specific task. This method, inspired by agile software development, encourages employees to collaborate more effectively and deliver projects faster.
Fowler believes that this shift to smaller teams has led to a 50% productivity increase in technology development. The teams, of around 10 people, are given a set of tasks to complete within two weeks. This approach has resulted in faster delivery times and improved communication within the company.
The CIO also highlighted the importance of a culture change within GE Capital, where employees are encouraged to take ownership of their projects. They are given the freedom to make decisions and are held accountable for their results. This has led to greater job satisfaction and increased productivity among employees.
In addition, GE Capital is investing in technology to support this new approach. The company is developing an internal social network to facilitate collaboration and communication among its small teams. Fowler sees this as a crucial part of the company’s digital transformation, enabling employees to share knowledge and ideas more effectively.
Fowler’s vision for the future of GE Capital involves using data analytics to further improve productivity. By analysing data on how employees work, the company hopes to identify further opportunities for improvement.
Go to source article: http://blogs.wsj.com/cio/2015/03/12/small-teams-boost-productivity-of-large-companies-ge-capital-cio-says/tab/print/