HRM in Stelco

Paper Summary:

This paper describes challenges faced by HRM in Stelco Corp, in relation to financial takeover, restructuring, and global shifts in the steel industry. A two-pronged approach is recommended, supported by literature on steel industry and Stelco, towards consulting existing staff concerning grievances and suggestions, and instilling a recruitment and training process that uses traditional networks, trains existing staff, and clearly needed skill sets. The paper refers to a contemporary solution of learning as an overall employee goal, leadership emphasis and building morale through difficult transitions.

From the Paper:

"The Canadian steel firm, Stelco, declared losses in the last decade that prompted placing the corporation up to bidding, including a possible buy-out by the Russian giant, Severstal. (See Mordashov 2003) A period of several years' uncertainty was bound to generate challenges for human resource managers within an organization that is now undergoing financial and other restructuring, in keeping with processes experienced throughout the North American steel industry, in the last two decades. In late November of 2004, the Ontario Superior Court of Justice approved a Deutsche Bank bid on supply Stelco's much needed capital-raising. It is significant to this case study that the United Steelworkers Union (USU) had most supported the Severstal bid in its assurance that Stelco would continue as a steel operation."

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