5S is a methodology for organizing and managing a workspace. It consists of five steps: Sort, Set In Order, Shine, Standardize, and Sustain. The steps involve removing unnecessary items, properly storing and labeling necessary items, cleaning the work area, establishing standards, and sustaining the changes through ongoing training and communication. Implementing 5S leads to more efficient work environments and improved workplace safety, employee self-esteem, and reduced training time for new employees.