[Woori Financial Group] Held the “OneDo” Awards Ceremony
Held the “OneDo” Awards Ceremony
- Expecting more than KRW100 billion in financial performances through the “OneDo” program - Awarding the excellent employees and teams
Woori Financial Group announced on 18th that there would be more than KRW100 billion performances in profits and cost-savings by the ‘OneDo” program, a management innovation activity, in 1H.
The OneDo program has targeted to generate financial performances equivalent to 10% to 20% of the Group’s annual incomes, which is expected to make a breakthrough for sustainable growth in the rapidly changing financial market environments. This program was initiated to build a low-cost and high-efficiency organization to meet with any market change.
To this end, the Group formed a task force team for strategic cost-saving projects at the dictation of the Group’s Chairman in May 2009. The team has focused on substantially transform the corporate structure by eliminating unnecessary factors in the aspects of organization, human resources, work processes, company operation and management beyond just pay cuts and downsizing. The team was upgraded to the management innovation office this year.
The word OneDo is an innovation brand of Woori Financial Group in order to strengthen its future business competitiveness, of which the One means one human resource or the best and the Do means proactive execution. This brand was officially launched at the “Innovative Vision Proclamation” ceremony in December 2009.
The OneDo program was comprised of “WhyDea”, a proposal system by all employees, “WhyTing”, an innovative small group activity and “Maestro”, innovative leaders in the market, which was implemented since early this year. The strategic cost-saving task that had been promoted since 2009 was upgraded to an OneDo-level task, which is being boosted to maximize the Group synergy through the “WhyDea” and “WhyTing.”
On August 18, 2010, the Group held a ceremony to award employees and teams who have achieved excellent performances in the sectors of WhyDea, WhyTing, Maestro and Group synergy in the first half of the year at the head office located in Hoihyeon-dong.
The grand prize was awarded to the task of Woori Bank’s Loan Service Center “Cost-saving by improving and developing the loan approval system of branch managers” in the WhyTing sector. This task has contributed to eliminate unnecessary work processes in the loan business through in-depth survey of all branch managers and reduced about KRW4.5 billion through the year.
An official of Woori Financial Group said, “Despite the first year of the OneDo program, most employees has proactively participated in this program and the financial performances were beyond our expectation. We will continue to substantially improve our habitual systems and unnecessary work processes and finally leap forward to a global financial group.”