How does POSCO ensure having a quality in labour force?

Hello! This is the kimchi gang! Today we have visited the POSCO Steel Industrial and POSCO High School. During a presentation at POSCO Steel Industries, we found out that it is actually an extremely large company that operates 24 hours a day and requires 17 000 workers to carry out their daily functions. Additionally, POSCO also requires a highly-skilled labour force due to its sophisticated operations.. This is why it is necessary for POSCO to sustain its labour force to make sure that their company would not malfunction due to the shortage of quality workers. Also, POSCO needs to find ways to prevent brain drain to ensure a continuous supply of labour. POSCO does so in the following ways: providing education for the employees?children, maintaining quantity and quality of workers and developing a sense of loyalty to the company.
As mentioned earlier, POSCO requires a large workforce to carry-out their daily functions. This means that they need to create a constant supply of workers. To ensure that their demands for labour are met, POSCO actually provides education for the employee's children. In fact, 60% of the students of POSCO high school are POSCO employees?children. One example would be Evelyn's buddy, Yeon Ju whose father is working in POSCO. As we all know, POSCO is the largest steel industry in Korea, it would definitely be the parents?wish to send their children to study in schools of POSCO. Especially since POSCO hires 100% of students of POSCO High School, this becomes a very good incentive for employees to send their children to study there.
POSCO maintain its quality and quantity of the workers by ensuring a place in the POSCO company and train them with the required skills. 40% of the students studying in POSCO high school came from top schools in Korea. Since that they had been trained since kindergarten till university, this meant that they are well-equipped with knowledge required in this industry, POSCO high school students study 4 sciences ; biology, chemistry, physics and space science. After the students completed their education, they would proceed to the work force with a certain knowledge which will aid the POSCO industry. It is said that 100% of the students graduated from the POSCO University would have a place guaranteed in the POSCO company. As a result, this will ensure a good supply of number of workers entering and leaving the company.
POSCO's educational structure might be well-developed. However, the company needs to be mindful of brain drain, which means that the company needs to ensure that the workers they have painstakingly trained remain loyal to the company. To do so, POSCO education foundation (POSEF) provides 5 different levels of education. There are kindergarten, elementary school, middle school, high school, and university. Being under POSEF for many years and having spent a large amount of time together, this would have bonded them making them feel like part of the POSCO? family.  Additionally, 60% of the employees?children are in POSEF and 75% of the school fees are paid by POSCO. This will help to prevent brain drain as people are attracted to stay in POSCO due to good future prospects.
There are many lessons we can learn from POSCO. By improving and planning for a good workforce, this strategy ensures that the labour demands are met. However, Singapore's population size is too small and we do not have many industries that need such a large work force. Thus, it is not feasible for Singapore to copy labour strategies directly from POSCO. However, need to be equally forward-looking. In fact, we have already been doing so with the building of our NEWater plant, which is part of a collective effort to increase our water supply, and to make Singapore self-sufficient. This is because Singapore does not have natural resources and we need to plan ahead to ensure our survival.
Done by:
Melvin Teo, Ang Shi Ya, Evelyn Tan, Ng Shu Fang, Tan Zheng Deok Sophie, Tracy Tham