In the US, approximately 800,000 people are employed in the chemicals industry. Globally, the figure approaches three million. Successful chemical companies realise that human capital is their most important asset. Facing challenging global and domestic economic climates, increased internal and external scrutiny on benefits and compensation programs, and the dynamics posed by an aging and increasingly diverse workforce, chemical manufacturers must incorporate a variety of innovative practices to attract, retain, reward, and manage their workforce effectively.
The importance of human capital cannot be overemphasised. In corporate transactions, people issues are often overlooked, potentially impacting the anticipated shareholder value of the deal. Organisations must also be nimble with fast-track global deployment strategies to satisfy the pace of change and add value to the business. And to help in recruiting qualified individuals, companies must additionally develop more sophisticated share plans and reward programs.
To help leverage the role of HR in a company’s operations, PwC’s Human resource services practice combines knowledge in tax, benefits, retirement, communications, financial planning, international assignment, actuarial, culture change, compensation, regulatory, legal and process management. Our global network of over 6,000 human resource practitioners offers fresh perspectives and innovative solutions to complex global and local HR issues.