Global Strategic Workforce Development
Recruiting and retaining a world-class global workforce is critical to our business success. Growth in energy demand and higher energy prices have increased the industry's investment activities, leading to greater competition for skilled people. During 2006, we continued building our workforce capabilities and developing national talent in the countries where we operate through our Invest in People strategy, discussed below.
Today, we have employees in 118 countries around the world and approximately 30 projects in which Chevron's share is more than $1 billion. New talent is being hired at a rate significantly higher than two years ago. The core of our experienced workforce is retiring in increasing numbers. At the same time, our investments are occurring in increasingly diverse geographies. In 2006, 46 percent of our employees worked in U.S. operations, compared with 73 percent seven years ago.
Invest in People Strategy
Our Invest in People strategy is designed to attract global talent and continue our investment in existing employees. To support this objective, in 2006 we established standards, metrics and governance guidelines for four core talent management processes: bringing new employees onboard, performance management, assessment of employee potential and leadership development.
With employees in 118 countries, Chevron provides its global workforce with opportunities outside their home countries. Iman Al Husaini, an employee of Chevron subsidiary Saudi Arabian Chevron Inc., was on assignment as a Global Gas portfolio adviser in San Ramon, California, during 2006.
Attracting Global Talent
In 2006, we retooled our global recruitment efforts, including redesigning Internet and print materials, and improving online recruiting tools. We expanded our recruitment efforts into countries such as India, South Africa and Thailand, where there are potential employees with key skill sets. We hired significantly more people in 2006 than in 2005, including approximately 3,500 in the United States and approximately 2,300 in non-U.S. locations. At the end of 2006, approximately 94.6 percent of our employees were working within their home countries.