LG 2000 Annual Report Download - page 14

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People
LGE experienced no staff reduction in 2000, stressing the recruitment and safeguarding of competent
individuals. Along those lines, the differential compensation system, the performance-based retention
incentive with long-term insight, creates a well-utilized management system structured on performance-
based personnel.
In 2001, LGE shall maintain efficient levels of personnel management for operation effectiveness and
performance maximization. Particular emphasis shall be placed on the recruitment and retention of capable
R&D employees to cope with dramatic shifts in the digital sector.
Personnel management strategies for 2001 are as follows;
1. Recruitment of elite individuals
.Selection of people qualified for e- and R&D-business
. Appropriate job placement of individuals according to talents and abilities
2. Flexible operations based on successful business strategies
.Elimination of inefficient factors
.Enhancement of accountability
.Soft outflow of surplus personnel and outsourcing of low-valued businesses
3. Effective recruitment and cultivation through e-human resources
.Introduction of the Internet recruitment system, the internet HR administration automation,
and the personnel information system for officials
4. E-learning portal formation
.Offering specialized on-line education to create effective individuals and a formidable company
In 2000, the labor market was faced with major difficulties for several reasons: restructuring of the
corporate and financial sectors, strikes at Kookmin Bank, and strikes at Daewoo Motors. According to the
Korean Management Association, it was reported that labor-management relations are expected to remain
unstable.
In a step preceding other domestic large enterprises, LGE reached an early agreement with the labor union
and devoted itself to management. In addition, stock has been distributed to LGE staff in compensation for
dedicated services, generating interest in the stock price among the work force.
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