Live News > Indian intellect overwhelms me: Jack Welch 5/23/2005 1:00:00 PM > Indian companies should also follow the rule of 20-70-10, according to which companies should nurture their top 20% employees, encourage the middle 70% and weed out the lowest 10%, feels former CEO and Ex-Chairman of General Electric, Jack Welch. > Welch is very positive about India and Prime Minister Dr Manmohan Singh. He also paid glowing tribute to Indian managers and technocrats. > Excerpts from CNBC-TV18'S exclusive interview with Jack Welch: On whether the 20-70-10 rule should be employed by Indian companies too: > Yes why not, if you always want to have the best cricket players on the team and you do not keep the bad cricket players, then why keep the bad employees? > Today, when I talked to 1000 young entrepreneurs in America, and then I talked about 20:70:10, I got a standing ovation. Thriving and winning companies know you have to put the best players on the field. Having said that, I am too kind to lay off the bottom 10. That is not kind, that is cruel. Keeping people until they get older and then dealing with them is not kind at all. > > On advice to Indian managers, people trying to tap into US markets: > > I think they are doing well. I was in Atlanta three weeks ago and of the top 20 companies in Atlanta, 10 are run by Indians. I think they know how well to do it. It is always how you utilise the genuineness and intelligence of Indians, which is enormous. For the past 20 years, I have been overwhelmed with the intellect of the Indians. > On what is special among Indian managers: > Their abilities, their sensitivity is among the most important. They are extremely hard working and they are honest as can be and you can trust their word. Look, I am a crazy fan of India, I love India, I love Indians, I have got nothing but success while dealing with them and I do not have a critical word for India. Besides, I love the new Prime Minister. I have known him for so many years and India is so lucky to have a leader like that. > On whether there are things to learn for US companies from their counterparts in India and China: > I think everybody can learn from each other and the learning is part of winning companies formula. I am always open to ideas from anywhere, so I think we can learn from each other all the time. We have learned a lot from our relation with Wipro and see what Azim Premji has done there, absolutely fantastic job.
