Steel Foundation celebrates 25 years of success

The most successful labor-market instrument in Austria

The crisis of the socially owned enterprises in the 1980s led to comprehensive staffing cutbacks and marked the birth of the Steel Foundation. At the beginning of November 2012, the Steel Foundation celebrated its twenty-fifth anniversary.

Approximately 6,600 people have been beneficiaries of the Steel Foundation since it was founded and have received support for their future careers. The foundation has since been used as a model for many other labor foundations and is most likely the most successful labor-market instrument in Austria. 24,000 employees from the roughly 80 member companies finance the activities of the Steel Foundation on a monthly basis with their solidarity contributions.

Since its inception, the Steel Foundation has most likely become Austria's most successful labor-market instrument.

Aid for 6,600 men and women, 90% placement success rate

To date, more than 6,600 men and women have become beneficiaries of the Steel Foundation and have received support in finding a new workplace. The placement rate is almost 90%, and the Steel Foundation remained successful during the most recent financial and economic crisis. Since January 2009 alone, roughly 2,000 new entries have been registered, and the success rate has remained almost unchanged at 86%. Approximately 470 men and women are currently receiving support from the Steel Foundation,

where no one is left alone, but where every beneficiary makes his or her own decisions. The foundation is a type of safety net for approximately 24,000 employees from more than 80 different companies. These employees can fall back on the foundation if they are so unfortunate as to become unemployed.

More than 80 member companies take advantage of Steel Foundation

Meanwhile, the Steel Foundation has become more than just the labor-market instrument of the voestalpine Group in Austria. The 24,000 employees from the more than 80 member companies finance the foundation activities with their solidarity contributions and have the opportunity to take advantage of the foundation benefits when their job is lost as a result of economic or structural changes. The Steel Foundation is proof of the in-house social partnerships that exist in the voestalpine companies.

The qualifications achieved by employees who take advantage of the foundation benefits range from completed apprenticeship examinations, successfully completed training courses and degrees at vocational schools, colleges and universities. The benefits also include vocational counseling services, skill training and coaching in difficult situations.

The Steel Foundation was praised for its 25 years of exemplary success during a formal ceremony attended by Federal Minister Rudolf Hundstorfer, Upper Austrian Provincial Governor Josef Pühringer, the Chairman of the Management Board of voestalpine AG, Wolfgang Eder, and the Chairman of the Corporate Works Council, Hans-Karl Schaller.