Nucor Corporation Case Study

Nucor Corporation Case Study

Nucor Corporation Case Study

Introduction

In 1998, Nucor was a Fortune 500 business with 6,900 workers and had sales of $4.3 billion in iron alloy and steel-related products. Its incumbent head, F. Kenneth Iverson, had going the business for more than 30 years. During his tenure, the iron alloy commerce faced several difficulties, encompassing foreign affray, struggled work relatives, and slowed down demand for iron alloy (related in part to the substitution of alternate materials). In distinct years, both Iverson and Nucor CEO John Correnti were entitled Steelmaker of the Year by New Steel magazine.

 

Nucor's set about to organizing its people

As part of its firm promise to fairness, Nucor had a grievance method that permitted any worker to inquire for a reconsider of a grievance if he or she sensed the supervisor had not supplied a equitable hearing. The grievance could proceed up to the general supervisor grade, and, if the worker was still not persuaded, could be submitted to head agency administration for last appeal. General Managers were needed to contain yearly evening repasts with every worker, gathering with assemblies of 25 to 100 at a time. These meetings provided workers a possibility to talk about difficulties pertaining to arranging, gear, association, and production. The ground directions were simple: all remarks were to be enterprise associated and not engage personalities, and all condemnation was to be taken under advisement by administration for resolute action. Like customary New England village meetings, the format was free and open. Topics diverse broadly from year to year, and occasionally the meetings continued well after midnight.

 

Ideas from Newer Employees

Nucor was very selective in employing workers and was adept to select from a large applicant pool. Noted Iverson, “Darlington [S.C.] required eight persons, and we put a little publicity in the shire every week bulletin that said, `Nucor Steel will take some submissions on Saturday forenoon at 8:30 for new employees.' When we went out there for the consulting, there were 1,200 persons bordered up in that plant. We couldn't even get into the vegetation to get to the staff department….Finally we called the state policeman and said, `You've got to manage something. We've got a traffic jam out here.' And the cop on obligation said, 'We can't manage it, because we've got three persons out there applying for occupations ourselves!'”

Employee relatives at Nucor were founded on four principles:

1. Management is obligated ...