Please congratulate POSCO for being selected as one of the best companies to work for in South Korea! According to 2014 Korea Great Work Place Index (K-GWPI), POSCO ranked 1st in steel industry – for seven consecutive years – and 3rd in manufacturing sector as the ‘Best Company to Work For’. K-GWPI was developed by Korea Management Association Consulting (KMAC) in 2008 and it releases annual reports to encourage corporations to promote ‘happy workplaces’ since KMAC’s annual reports act as an objective measurement for corporate evaluations.
K-GWPI released its 7th report this year, and over the period of three months since March to June, it surveyed over 6,200 industry workers, 300 Human Resource specialists via both online and offline questionnaires. The aim is to nominate ‘Best 30 Corporations’ regardless of industry and to honor ”The Best Corporation” in each industry.
POSCO Tops in Steel Industry for Seven Consecutive Years
‘The Best Corporation’ survey was based on 220 companies of 47 industries, including 17 from manufacturing, 22 from service and 8 from public sector. In this assessment, POSCO recorded a score of 78.1, which granted POSCO seven consecutive win as the steel industry’s best company since the initial start of KMAC’s annual reports in 2008.
This result shows that, POSCO has been successfully managing and investing in its employees despite of difficult business environments, locally and abroad. This effort, along with the seven-consecutive-year title as the industry’s leading company, will not only secure happiness amongst workers, but also contribute in achieving future corporate goals.
POSCO Selected in Top 3 in Manufacturing Sector
‘Best 30 Corporations’ were selected from a total of 101 candidates (Manufacturing Sector 50 Corporations · Service Industry 51 Corporations) and POSCO came in third on the list, following Samsung Electronics and Yuhan-Kimberly.
According to KMAC, POSCO ranked high on the list for various aspects, including excellent vision (3rd), fair system in HR (3rd), happy corporate culture (5th), commitment of employees (4th), and overall happiness level (3rd).
This year’s reward is especially more meaningful since POSCO has earned recognition for its effort in enhancing working environments and satisfaction of the employees. In comparison with corporate evaluation from last year, POSCO stepped up from 9th to 5th and 4th to 3rd in ‘happy corporate culture’ and ‘overall happiness level’ category respectively.
POSCO’s Efforts to be ‘The Great Company to Work At’
1. Extended and Flexible Retirement Age
Reflecting social trends and changes in the world, POSCO extended retirement age from 56 to 58 years old. Furthermore, POSCO has been boosting motivations of employees by adopting a salary peak system and hiring back retired employees.
2. Improvement in In-house Baby Care System
POSCO made significant improvements in POSCO’s daycare center and other maternity-related policies, including, but not limited to, maternity leave up to 2 years, flexible working hours, and flexible leave of absence to support all employees to seek happiness and balance between work and home.
3. Expanding Opportunities in Employees’ Cultural and Leisure Life
POSCO offers tickets, opportunities and access to various events, concerts, eco-friendly farming educational center POSCO ECOFARM, and other diverse recreational facilities where both employees and his/her family can interact and spend quality off-work time.
4. Please check out more for what else POSCO is doing for employees! (Please click the titles)
“POSCO, the Great Company to Work at” Episode #1 Training Future Global Leaders at POSCO
