Hyundai Steel is attempting a drastic change in the way it works. It is introducing an electronic payment system to improve employees' work efficiency, while improving decision-making speed more quickly.
Hyundai Steel has introduced an electronic payment system through its "Work Smart Campaign" since October 2018. The electronic payment system has shown excellent effects of improving work efficiency, with document output decreasing by 60 percent compared to the previous one during the trial operation period of about eight months.
Because the introduction of electronic payments reduced unnecessary document output and increased decision-making efficiency, the entire approval version was discarded. The measure is aimed at drastically reducing face-to-face reporting that requires several steps and minimizing prior reporting needed for approval.
In the past, even if electronic payments were used, reporters often wrote documents for prior reporting or waited for face-to-face reporting before approval, but this inefficiency was boldly eliminated.
Such improvement in work efficiency is said to have dispelled concerns over the loss of work efficiency due to lack of communication as it is possible to report and collaborate through the electronic payment system even amid the "social distance" caused by the aftermath of COVID-19.
"It will pursue smarter ways of working by improving work practices tied to the form or inefficiency across the entire work," said an official at Hyundai Steel.
