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Ladies and Gentlemen welcome back to another exciting episode of The Leader Show with Lou Carter. Our guest today is David B. Burritt, the CEO of US Steel. This old-school steel company recognizes employee trends that value the environment—and a green economy.
Now, without any further ado, let’s jump straight into the lessons David shares on this podcast about what makes US Steel a Most Loved Workplace®.
Dave praises Lou’s book, “In Great Company” which he is currently reading. He appreciates the book’s alignment with US Steel’s principles around safety, trust, respect, environmental stewardship, excellence, and accountability.
US Steel’s positive future is focused on sustainability, including the creation of a mini-mill that produces 75% less carbon and a partnership with General Motors. That said, Dave acknowledges the ups and downs the company has faced in the recent past and sees 2023 as a year of transition with regard to workflow and business.
Lou loves the way Mr. Burritt assesses the company’s financial performance and points out the importance of working collaboratively with customers.
While discussing collaboration, Dave suggests that it is an integral part of US Steel’s culture, which is focused on excellence and continuous improvement. He mentions that his employees are at the forefront of customer relationships and have more interaction with them than he does, which guides the company’s direction.
He highlights that the engineers at the integrated mills focus on teaching the engineers at the mini-mills how to make high-end advanced high-strength steel, which they may not have been able to do before.
The engineers at his company are truly innovative and are always keen on developing new technologies and processes that can be shared and implemented across both divisions to improve productivity.
Dave also mentions that there are designated individuals who lead the knowledge-sharing efforts and facilitate communication between the workers of integrated and mini-mills. It involves cross-training programs, regular meetings, and information exchange on best practices and technologies. The goal is to leverage each division’s strengths and expertise to create the best of both worlds, leading to the best outcome for everyone involved.
Overall, US Steel’s culture of excellence and continuous improvement is reinforced by a collaborative learning environment where knowledge-sharing is encouraged across divisions. This approach allows the company to stay agile and adapt to changing customer needs and challenges while leveraging its strengths and competitive advantages.
When asked how Dave can manage the cost while innovating with technologies, he admits having to navigate a delicate balance between innovation and cost to stay competitive. He mentions that while they want to differentiate themselves and become the supplier of choice for certain products, they also need to be mindful of cost and pricing for their customers.
Naturally, if they invest too much in R&D and innovation, it could lead to higher costs, which could then affect pricing for their customers. While it’s a fine line to walk, Dave and his team are determined to find ways to be innovative while keeping costs under control.
Moving on, Dave highlights that his team embraces the concept of Amor Fati, or the lover of fate, and is always willing to embrace new challenges as opportunities for growth.
Dave highly encourages his team to collaborate and communicate efficiently. This is exemplified by their work from wherever policy, which has improved productivity and communication while saving time and resources. In fact, according to HR surveys, 99% of employees and managers say that their productivity has improved or is as good as it was before.
Overall, Dave’s approach to ensuring better productivity emphasizes valuing employees and creating an environment that is best for all. This is in contrast to other companies that force their employees to work long hours and ultimately leading to burnout and high turnover rates.
Next, Dave strongly believes that remote work has been a positive experience for the company, with a higher productivity rate and fewer logistical issues such as commuting or weather. The CEO notes that while there are a few benefits to in-person collaboration, for most days, remote work seems more efficient.
On that note, he highlights the use of technology, which according to him has been critical in maintaining productivity, especially during the pandemic, and has allowed for easy communication and collaboration.
He also mentions the company’s values of trust and respect, which are equally important in maintaining a productive remote work environment. Lastly, Dave states that they will continue to utilize a hybrid approach to work, with remote work being a permanent part of the way of their operations.
Dave strongly supports collaboration with the US government to increase domestic production and ensure fair trade. According to him, the government must be able to make basic things in the country to keep people safe and secure, especially during times of crisis.
He also discusses the importance of tax incentives for exporting and the need to create more jobs in the US. Additionally, he mentions various acts, such as the CHIPS Act, the infrastructure bill, and the Inflation Reduction Act, which he believes will help the US become more productive and carbon-neutral.
However, he notes the importance of ensuring the investments are productive and focused on energy efficiency and productivity.
After that, the CEO of US Steel, David Burritt, discusses how common goals are important for solving problems. He strongly believes that the closer his company is to the customers, the better the collaboration.
Citing US Steel’s partnership with GM, Dave believes collaboration leads to differentiation towards the green future, creating an advantage for his company and helping take a major portion of the market share.
Apart from that, he mentions the industry’s challenges, including being forced to bid into being a commodity, but he sees the aspiration towards GHG-neutral steel as a positive step.
Burritt believes that the closer the relationship between the company and its customers, the better the opportunity to come together and achieve common goals. While the company has achieved great success so far, Dave believes that it has a lot more to do in terms of collaboration and is accelerating its efforts.
Finally, Lou and David Burritt discuss various aspects of US Steel’s business. Burritt mentions that the company is investing in new product development and reducing product development time. He also discusses the advantages of leveraging the company’s expertise in advanced high-strength steel for other applications.
In addition, Burritt emphasizes the importance of having the best talent and creating a culture of collaboration and consistent improvement. He also mentions the company’s strong safety culture and how they work on psychological safety, which is imperative to foster productivity and a desire to work harder.
Lastly, Burritt seems bullish on the future of US Steel and believes that the company will be able to attract more people to work for them.
Dave and Lou discuss a lot more on this episode of The Leader Show. Share your thoughts with us at info@bestpracticeinstitute.org
Thank you for listening.
