LYB's Commitment to Equity, Diversity & Inclusion: People and Culture Initiatives
At LyondellBasell (LYB), our focus is on supporting people by placing them at the center of all we do and fostering a culture built on diversity, equity, and inclusion. One of the ways we reinforce this core value is through our People and Culture Equity Committee. Equity, in our view, means ensuring that everyone has access to the resources they need to succeed and that all employees are treated fairly.
The Role of the Equity Committee
In 2023, LYB formed the Equity Committee, which brings together representatives from various key functions within the People and Culture (P&C) team. The goal is to use this cross-functional collaboration to enhance equity and improve perceptions of fairness across the organization.
The committee has played a crucial role in implementing the equity initiatives outlined in our 2023 Sustainability Report. For instance, team members from the Talent/Performance group introduced an "Equity Champion" position to monitor equitable discussions during the year-end performance management process and help identify potential biases.
Additionally, the benefits team (Total Rewards) enlisted an external consultant in 2023 to conduct a comprehensive review of our U.S. benefits programs with a DEI (Diversity, Equity, and Inclusion) focus. This involved a detailed evaluation of our healthcare, retirement, and other benefit offerings to assess participation and affordability for different demographic groups (such as age, gender, race, and location). This review allowed us to make significant improvements to our U.S. benefits for 2024, and we are considering extending these in-depth reviews to other regions.
From recruitment to workplace flexibility and compensation, the committee continuously works to identify and resolve equity challenges, drawing on expertise from People & Culture, leadership, and other areas of the business.
Why Equity Matters at LYB
Our vision for the future is for LYB to be a place where equal opportunity is a reality for all, with diversity, equity, and inclusion deeply woven into our culture, much like our commitment to safety. Our strategies for fostering a diverse and inclusive culture are integral to promoting growth and fairness. By ensuring equitable practices, we create a level playing field that fosters collaboration, innovation, and employee satisfaction. This inclusive environment helps recruit, retain, and promote talent, contributing to LYB’s overall success.
The People and Culture Equity Committee remains dedicated to continuously reviewing and improving our systems, ensuring that equity is an ongoing and evolving practice at LYB, aligned with our long-term vision.
Click here if you would like to be a part of our cultural transformation.
The Role of the Equity Committee
In 2023, LYB formed the Equity Committee, which brings together representatives from various key functions within the People and Culture (P&C) team. The goal is to use this cross-functional collaboration to enhance equity and improve perceptions of fairness across the organization.
The committee has played a crucial role in implementing the equity initiatives outlined in our 2023 Sustainability Report. For instance, team members from the Talent/Performance group introduced an "Equity Champion" position to monitor equitable discussions during the year-end performance management process and help identify potential biases.
Additionally, the benefits team (Total Rewards) enlisted an external consultant in 2023 to conduct a comprehensive review of our U.S. benefits programs with a DEI (Diversity, Equity, and Inclusion) focus. This involved a detailed evaluation of our healthcare, retirement, and other benefit offerings to assess participation and affordability for different demographic groups (such as age, gender, race, and location). This review allowed us to make significant improvements to our U.S. benefits for 2024, and we are considering extending these in-depth reviews to other regions.
From recruitment to workplace flexibility and compensation, the committee continuously works to identify and resolve equity challenges, drawing on expertise from People & Culture, leadership, and other areas of the business.
Why Equity Matters at LYB
Our vision for the future is for LYB to be a place where equal opportunity is a reality for all, with diversity, equity, and inclusion deeply woven into our culture, much like our commitment to safety. Our strategies for fostering a diverse and inclusive culture are integral to promoting growth and fairness. By ensuring equitable practices, we create a level playing field that fosters collaboration, innovation, and employee satisfaction. This inclusive environment helps recruit, retain, and promote talent, contributing to LYB’s overall success.
The People and Culture Equity Committee remains dedicated to continuously reviewing and improving our systems, ensuring that equity is an ongoing and evolving practice at LYB, aligned with our long-term vision.
Click here if you would like to be a part of our cultural transformation.
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