Talent Attraction and Retention
We are complying with local minimum wages and the ratios of standard entry level wage compared to local minimum wage of both male and female employee is greater than one.
86.10% of overall retention rate
We calibrate employee lifecycle processes through insights gathered from labor market scenarios, strategy meet sessions, the Global Employee Engagement survey, and focus group discussions. This calibration is underpinned by data analytics to identify the best options for talent retention.
Note: Turnover rates have been recalculated and restated using a more stringent definition and methodology.
Beginning in 2018, we have relied increasingly on data analytics, which is one of the best approaches to identifying hot-spots requiring a response. Retention interventions were crafted by understanding a Business Unit’s specific needs, with appropriate action taken at the country, regional or global level.
To better understand and analyze our data, we implemented a new methodology with a change of concept that expands the focus area by covering all of the group’s employees including newly acquired units and additional voluntary reasons as well.
In 2024, our overall attrition rate was 13.90%. This is a result of our rapid growth due to the large number of acquisitions in 2024 resulting in the integration of more than 28,000 employees across the globe.
We believe a firm foundation will lead to sustainable and positive changes. We have begun to deliver a global platform in many HR-related areas that are aligned with our strategic long-term HR priorities as follows:
- SAP HR/; Began a detailed feasibility study in 2019 together with a project to configure our systems, ensuring they are aligned with the new HR global processes in 2020 and to prepare and implement an effective and efficient global HR platform covering the key HR processes.
- Talent Acquisition and Management: Began a detailed feasibility study and initiated a project to deploy Succession Planning scoping from the top level down to N-3 levels in 2020.
- HR Function Capabilities and Engagement: To strengthen merger & acquisitions; skills and benefits; and engage all HR managers in projects, process design and policy setting.
- Global Employee Engagement: We decided to move the yearly GEE process to every second year to ensure a deeper review of the feedback given by employees, and improved implementation of the initiatives as per the feedback from the engagement process before we further approach our employees for the survey. We plan to rollout a new and more efficient GEE program in 2021 which promotes diversity, delegation, trust, and inclusive management.
Workforce Engagement
In 2020, we launched a new Employee Engagement approach to help us to understand how we can better engage our workforce and create a workplace of choice.
Our approach considers the different touchpoints during our employees’ journeys with Indorama Ventures and focuses on identifying and enabling the right actions. Therefore, we deploy a mixed approach, one of which is the Global Employee Engagement survey.
Maintain an Employee Net Promoter Score (NPS)
≥ 70% starting from 2024.
The Global Employee Engagement survey is carried out every two years and measures:
- Survey Participation: 88.36%
- Employee Engagement: 73.91% (actively engaged employees)
- Employee Net Promoter Score: 75.01%
- Key Engagement Drivers:
- Objectives and aspirations: 74.69%
- Accountabilities and collaborations: 79.46%
- People manager capabilities and interactions: 74.03%
- Performance management and recognition: 62.88%
- Leadership 73.35%
- To prioritize the well-being of our employees, we introduced two new criteria to gather relevant insight. This includes:
- Our company ensures my well-being and health.
- Achieving a balance in my personal and work life is attainable.
The findings and feedback from the surveys provide actionable insights and suggestions on how we can further collaborate with our employees to build a work environment that inspires and empowers them to give their best. Moreover, these inputs support the HR team in designing tailored initiatives that resonate with our workforce, ultimately allowing every employee to be actively engaged as a valued contributor. A series of initiatives launched in this year focused on enhancing the quality of life and well-being of our employees. These initiatives aim to encourage professional growth, improve work-life balance, and strengthen our company culture.
Additionally, we host regular interactions, including organizational announcements, annual updates on HR plans, and HR Quarterly Connect meetings, ensuring a dynamic channel for communication and connection. This integrated approach underscores our commitment to building and sustaining a workplace where employee engagement and well-being are integral to our organizational values.
Enhancing Well-Being and Work-Life Balance
Employee well-being is not only an issue of individual satisfaction, happiness, and health, but also a key factor for organizational performance and sustainability that considers the multiple dimensions of human experience: physical, mental, emotional, and social. This means providing employees with the necessary resources, support, and opportunities to enhance their health, well-being, and fulfillment at work.
Our holistic “Corporate Well-being Reinvention” approach guides us in enhancing employee well-being by integrating it into our core strategy. This plan emphasizes the importance of addressing physical, mental, emotional, and social health in the workplace. It offers practical strategies and case studies to help leaders create a supportive environment that boosts productivity and overall success.
Employee Benefits
At Indorama Ventures, we prioritize employee well-being and engagement through a comprehensive benefits program.
Paid Parental Leave
We offer paternity leave benefits to employees across all locations, including operating sites and corporate offices.
Childcare Contributions
We provide childcare contributions in the form of scholarships for the children of employees enrolled in public or private schools or universities. This benefit supports the educational expenses of employees’ children. Additionally, we offer childbirth allowance for employees’ lawful wives.
Sports & Health Initiatives
We organize sports day activities at each local site, promoting physical health and team spirit among our staff. These events provide an opportunity for employees to engage in various sports, enhancing overall well-being and employee engagement.
Other Indorama Ventures initiatives that support the well-being and work-life balance of employees include:
Hybrid Working Policy
To align with evolving working norms, Indorama Ventures integrates sustainability into our work conditions, ensuring employee well-being in both stable and uncertain times.
Recognizing that location flexibility can improve employee well-being and environmental impacts by cutting down on commutes, we offer such programs in our Thailand office.
Our commitment to flexibility allows employees to find their ideal work-life balance. This approach not only increases employee satisfaction but also contributes to a more adaptable and sustainable workplace. Flexibility is central to our efforts to create a resilient and employee-focused work environment.
Internal Health and Mental Well-being Activities
We offer webinars focused on organizational well-being and self-care, encouraging employees to maintain good health, boost productivity, and find happiness in their work.
Group Employee Assistance Program (EAP)
This program provides confidential counseling and support services to employees and their families, promoting mental, relieving stress, and emotional well-being.
Breastfeeding / Lactation and Childcare Facilities
We provide breastfeeding/lactation and childcare facilities to support nursing mothers. These facilities offer a private and comfortable space for lactating employees.
