Hydro had 22,634 employees at the end of 2008, a decrease from 24,692 in 2007. The reduction is primarily a result of the divestment of Hydro Polymers to the British company Ineos and of Hydro Production Partner to the German company Bilfinger Berger. Nearly 500 employees were added through acquisitions in Extrusion and Building Systems.
In recent years we have accomplished several demanding restructuring processes worldwide, in line with The Hydro Way. These experiences are important to build on as we are now in the middle of even more challenging restructuring.
In the present recessionary environment, we see the importance of maintaining our position as an attractive employer. We continued our graduate trainee program in 2008 and have already selected most candidates for the 2009 program. New employees are offered essential training, both in order to get to know the organization and their work tasks, and to gain the required competence within health, security, safety and environment.
Developing managers able to deliver on Hydro’s strategy and ambitions is key to both our leadership planning process and management training programs. In 2008 special emphasis was put on integrating and securing a global mindset in our programs. For 2009 our leadership development activities will be arranged to support our managers in their restructuring efforts. We emphasize diversity with regard to nationality, culture, gender and educational background, both when recruiting, and when forming management teams and other working groups. Half of the shareholder-elected board members are women. Women are also represented in all business area and most sector management teams, and we are aiming at further diversity at all levels. Most women top managers hired in the recent years have been recruited internally.
The deliberate recruitment of women is important in order to increase the proportion of women in the organization. In 2008, around 450 new employees were recruited to the Norwegian part of the organization. Of these, 28 percent were women, as compared to 19 percent in the Norwegian organization as a whole. 38 percent of the university graduates recruited in 2008 were women. Our annual graduate trainee program has had an even distribution between men and women since the introduction in 2005. The participants have also represented diversity with regard to nationality and cultural background. In the 2008 program, there are 18 participants, seven women and 11 men, representing six nationalities.
All employees shall be secured a total salary that is fair, competitive, and in accordance with the local industry standard. Only relevant qualifications such as performance, education, experience and other professional criteria shall be taken into account when making appointments, or when providing training, settling remuneration and awarding promotion. There are no significant gender pay differentials for employees earning collectively negotiated wages in Norway. Salary conditions for graduates in the Norwegian business are reviewed on a regular basis. No general gender-related differences have been found. See also Note 11 for further information on our compensation system.
We would like to extend our thanks to all Hydro’s employees who work untiringly to secure the success of the company. And we would like to send our best wishes to those who during these difficult times have had to leave Hydro.
