New leadership concept
The HR management strategy is determined within the overall strategy of LUKOIL Group. Social orientation, as well as full compliance with the law, are our basic principles and form the basis of our partnerships with workers and trade unions.
The HR management policy determines the strategy and principles of work in this sphere. The management system is based on the Code of Business Conduct and Ethics, the Rules of Corporate Culture, and the obligations set forth in the Social Code of PJSC LUKOIL.
Inspired by the “Changing with the World” principle, the management of PJSC LUKOIL has set the objective of reworking its leadership philosophy so that it has a management model capable of ensuring that the Company can successfully adapt in a changing environment. The following key areas of activity have been identified, including:
- Enhancing the corporate culture, taking into account current trends
- Creating an ecosystem that will facilitate the further development of the new leadership concept
- Identifying an efficient approach to assessing the performance and capabilities of employees and to building a talent pool
As part of the new leadership concept, the systems for motivation and career development, training, and the talent pool will be changed. In order to develop the leadership qualities of its employees, the Company plans to reshape the way that staff work by employing the latest management approaches. The leadership of the heads of LUKOIL Group entities will primarily be evaluated from the perspective of increasing the Company's competitiveness and substantial interaction with stakeholders within the regions of operation. It is not only managers that can be leaders – every employee should be given this opportunity. The career of each employee may develop either in a conventional manner (vertically, from a front-line to an executive position), or by becoming an expert. By becoming an expert, an employee also ensures career growth. Hence a wider range of up-to-date competences and incentives will be developed within the Company, which will result in greater productivity and a higher quality of work performed.