Case Study on Nucor corporation

Group5Dhaval DesaiPrachi SrivastavaRitesh ShangleShobhit MishraVarun Kedia

Nucor – Building a Nation

An Illustrious History1965: Ken Iverson takes over after company

files for bankruptcy.

1969: Nuclear Corporation opens 1st mini-mill in S. Carolina.

1974-1979 – Production Tripled and Sales Doubled

1986: Entry into fasteners - new plant at St Joe, Indiana.

2002: Nucor acquires Birmingham Steel

Production facilities in more than 14 states and in Trinidad

2011: Investment in 3m ton iron-making facility in Louisiana.

Nucor – A Shining star in US Steel Industry

Nucor’s USP – It’s Culture

No hierarchical barriers

Trust and Teamwork

Minimal Management Interference

High Tolerance Levels for failures

Nucor’s Mantra for SuccessHard-Work

Equality

Spirit of Innovation

Principles of Employee Relations

Unmatched Reward System

Reward System

Pay directly linked with Productivity

Fostered healthy competition among plants

Profit Sharing plan with a deferred trust

Scholarship of $1000 to each child of an employee

Scholarships for higher education

Nucor Principles

Opportunity to earn according

to their productivity

Feel confident about the job if

they do it properly

Should be treated fairly

Should have an avvenue to appeal

Compensation Plans

Senior Officer Incentive Plan

Department Manager Incentive Plan

Production Incentive Plan

Professional and Clerical Bonus Plan

Nucor – Valuing Employee Relations

Nucor Recruitment SystemObjective : To recruit people with:

Right mindset

Excellent Communication skills

Ability to work without supervision

Goal-Reliance and Self-Reliance

Nucor Career Path

Nucorizing Process

Specialized Induction Process for the new

employees aimed at:

Introducing Nucor’s culture to the new employees

Briefing them about the company’s bonus plans

Emphasizing on induction by existing employees and not the management

Nucor’s Secrets behind a Winning WorkforcePay directly related to

productivity

Source : uic.edu

Unions – Sorry we don’t have themSince its Inception – Nucor has never had

any unionsor attempts to form the same due :

Performance based pay package

Emphasis on adhering to production schedules

No Unreasonable Layoffs ever in Nucor history

Strong sense of Camaraderie among employees