Human Capital Development
People Development
Our commitment to developing our workforce remains steadfast as we continue to prioritize the advancement of our employees by facilitating growth opportunities and fostering an environment of inspiration. Demonstrating our dedication, we allocated approximately $ 2,217,665 towards the development of our staff in 2024. Notably, our investment translated into an increase of 23.11 hours in average training hours per employee, totaling 597,519 training hours overall. On average, we spent $ 85.80 per Full-Time Equivalent (FTE) on training and development. These initiatives underscore our unwavering focus on empowering our employees, providing them with the necessary support, and ensuring they are equipped to tackle future challenges with confidence.
Number of Training Hours per Employee
(Hours/employee)A Culture of Learning: The 70-20-10 Approach
Our development strategy is based on the globally recognized 70-20-10 model, which empowers employees to own their learning journeys through a balanced mix of structured programs, real-world experiences, and developmental relationships. This ensures that learning is both scalable and personalized:
- 70% through on-the-job experiences such as projects, rotations, and real-time challenges
- 20% through social and collaborative interactions, including feedback, peer collaboration, mentoring, and professional networks.
- 10% through formal education including courses, e-learning modules, and readings.
The following are some of the highlights of the major initiatives:
Succession Planning
The global succession planning process was launched in 2019 to build a robust talent pipeline, with two successors ready in two years.
From 39 senior management positions and 68 validated successors in 2019, the process was expanded to middle and site management positions. In 2023, we managed 1,154 positions with 1,828 validated successors with strong progress on diversity and age profile. We will continue to expand to the remaining 1000+ target positions.
In consultation with the NCCG committee, the Board reviews both the process adequacy and the plan for the Group CEO and Executive Board positions. For other key positions, Indorama Ventures ensures successful leadership transitions through a constant development of the next generation of leaders.
| Indorama Ventures’s Approach to succession planning | Progress Achieved |
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Indorama Ventures Leadership Curriculum
Initiatives
Indorama Ventures Leadership Development
- Quality leadership enables sustained business performance and high employee engagement.
- Focus on developing Indorama Ventures Leadership Skills.
Outcomes
- 2,062 leaders have undergone formal leadership training programs.
- 2,342 leaders have completed leadership e-learning modules.
Indorama Ventures Excellence (IVEX) Program
In line with the Company’s values, the Indorama Ventures Excellence (IVEX) function plays a critical role in driving enterprise-wide operational excellence. IVEX integrates cutting-edge methodologies by providing training programs and promotes a culture of continuous improvement through structured knowledge-sharing systems – Best-in-Peer and Best-in-Company – that enable the exchange of best practices across sites and promote team-based learning and cross functional collaboration.
This includes traditional Lean Six Sigma belt certifications for all proficiency levels, allowing employees to apply the methodologies within their specific areas, along with other world-class methodologies and training for non-manufacturing disciplines, such as Commercial, Supply Chain, Finance, and Innovation excellence, equipping employees with essential tools and techniques, with a primary focus on the DMAIC methodology to enhance day-to-day operational excellence.
IVEX programs are complemented by coaching and mentoring opportunities arising from hands-on project development following course completion, enabling employees to apply their learning beyond formal training.
IVEX Competition
The IVEX Competition is one of the program’s largest annual initiatives, engaging employees globally across multiple functions and business segments. It provides a platform for employees to showcase their problem-solving skills while learning best practices from peers. With mid-to-senior-level leaders serving as judges and mentors, participants also benefit from executive feedback and guidance, gaining valuable exposure to leadership perspectives. This fosters leadership development, a change-oriented mindset, and cross-functional collaboration.
In 2024, approximately 130 new projects were submitted to the manufacturing competition, with around 700 participants attending regional competition sessions—demonstrating strong engagement and momentum within the company’s continuous improvement community. To further expand its impact, IVEX introduced two new competitions for the first time: the IVEX Lean Finance Improvement Project Competition and the IVEX x Digital: AIA Adoption Competition (Advanced Industry Analytics), broadening participation beyond manufacturing and encouraging innovation in data-driven decision-making.
Aligned with strategic priorities, the IVEX Project Competition focused on three key areas:
- People Empowerment and Recognition – Celebrating new improvement initiatives annually while encouraging employees to integrate continuous Improvement tools into their daily operations.
- Knowledge Sharing and Best Practices – Fostering cross-functional collaboration through the exchange of expertise, insights, and successful strategies across global teams.
- Demonstrating Value and Impact - Showcasing both financial and non-financial results, reinforcing the value of data-driven improvements and strengthening a culture of excellence.
By recognizing and promoting high-impact projects, the competition reaffirms Indorama Ventures’ commitment to innovation, efficiency, and sustainable growth.
Future Leaders Program (FLP)
As part of our long-term leadership strategy, the Indorama Ventures Future Leaders Program (FLP) accelerates the development of high-potential talent across global operations. Structured as a 12-month blended learning journey, FLP includes contextualized assessments, tailored modules, coaching, mentoring, hands-on projects, and individual development plans.
The program also leverages team-based learning to encourage collaboration and cross-regional knowledge sharing. The program aims to build a sustained pipeline of 200 future leaders by 2025, strengthening long-term organizational capability. Following the successful completion of the inaugural cohort, the second edition was launched in May 2024 with 48 emerging leaders from various regions and business segments.
In September 2024, participants convened in Bangkok for an immersive four-day development experience. In recognition of its impact, the program received the Gold Award for Excellence in the Best Leadership Development Program at the prestigious 2024 Brandon Hall Group Human Capital Management (HCM) Excellence Awards, reflecting our commitment to developing future-ready leaders through structured, high-impact learning.
