Employee Retention of Valero Energy Corporation : Valero Energy Corporation (NYSE: VLO) is a Fortune 500 international manufacturer and marketer of transportation fuels, other petrochemical products, and power based in San Antonio, Texas, United States.[1] The company owns and operates 14 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of approximately 2.6 million barrels per day, 10 ethanol plants with a combined production capacity of 1.1 billion gallons per year, and a 50-megawatt wind farm. Valero is also one of the US's largest retail operators with approximately 5,800 retail and branded wholesale outlets in the United States, Canada and the Caribbean under the Valero, Diamond Shamrock, Shamrock, Ultramar and Beacon brands.
Valero Energy Corp (VLO) is a Fortune 500 oil and gas refining company based in San Antonio, Texas. Its 3.3 million barrels of production each day make it the largest refiner in North America. They also own one of the nation’s largest retail gasoline operations, selling fuel under multiple brands including Valero, Diamond Shamrock, and Beacon.
Business is booming at Valero! Bill Klesse, Valero’s CEO earned a bonus of more than $700,000. What did he do with it? He gave it to his employees!
Klesse instructed payroll to distribute his $700,000 bonus among Valero’s hourly employees in $50 increments. What a guy!
In visiting the Valero website, we read: Employees are our number-one asset. We strive to provide employees with the best compensation and benefits in the industry. Bill Klesse walks that talk.
The hourly employees who received this bonus will not soon forget the generous gesture of their top man. True generosity – an executive giving up a large portion his income to insure his employees are properly appreciated in these trying economic times. That kind of generosity cements loyalty. It inspires an extra-mile effort. It breeds like-mindedness in the rank-and-file.
For the employees of Valero, it is no surprise that the company has ranked No. 1 on Fortune magazine’s list of Best Big Companies to Work For. It’s not just the excellent benefits package, or the opportunities for personal growth. It’s also the caring and committed culture of the organization that makes everyone feel like they’re truly part of a team. Explore this section and learn if you have what it takes to join Valero.
A Culture of Excellence and Growth
Continuing education and training opportunities increase your knowledge and skills.
Career-path programs provide direction for career growth.
Valero promotes an atmosphere of acceptance throughout the company.
Competitive Benefits
Complete health and wellness programs help keep employees healthy.
Family-friendly benefits support work / life balance.
Inclusive package offers a wide variety of choices and benefits.
If you’re implementing employee retention strategies and tactics just to save your organization from the costly consequences of employee turnover (financial costs, reduced productivity, lost competitiveness, etc.) you’ll probably make some progress, but miss a lot of benefits.
Tactics alone only accomplish so much.
When they’re supported by values, you can accomplish much more.
What are these “values?”
It’s the belief that you undertake employee retention strategies not only to reduce negative consequences, but to also affirm and develop employees.
A person’s or leader’s or organization’s intentions behind their actions speak loudly.
If you implement only tactics and not values, you run company picnics, conduct exit interviews, and send birthday cards, but terminate an employee early to avoid paying her retirement.
If you implement only tactics and not values, you hire a new employee and “welcome her aboard,” but never tell her why you chose her in the first place.
If you implement only tactics and not values, you post your people-centered mission on the lobby wall, but ignore abusive supervisors or managers.
If you implement only tactics and not values, you talk about “open door policies,” but rarely give employees positive feedback about the good work they’re doing because “it’s what they’re being paid for.”
All of these have a major impact on retention.
It is retention values + tactics that result in turnover cost reduction and retains valuable employees.
Here’s a statement from a very successful company that explains what retention values + tactics look like.
According to Bill Greehey, chairman of San Antonio based Valero Energy Corp, “We’ve found that the more you do for your employees, the more they do for the company, the community, and the shareholders.”
The company has over 18,000 employees and consistently receives high rankings in Fortune magazine’s “Best Companies to Work For” awards. It’s presently ranked at number 22.
A Culture that Cares
Since the beginning, Valero has been a part of the life and spirit of the communities it serves. Whether it’s delivering meals to the elderly, mentoring at-risk youth, walking long distances on behalf of a cancer victim or clearing parks of unwanted brush, Valero is always there to lend a helping hand.
Valero volunteers throughout the company donate time, money and resources to help improve the lives of those in need.
Corporate giving ranges from the Valero Texas Open and Benefit for Children Golf Classic to donations from the Valero Energy Foundation. Learn more in the Community section.
Comprehensive Benefits
Valero offers one of the best benefit programs in the refining and marketing industry and among Fortune 100 companies, including:
Numerous choices to meet individual and family needs
Large and diverse selection of optional benefits
Valuable income and financial security benefits for full- and part-time employees
Educational assistance to support professional and personal development
Opportunities for Growth
Valero believes employee development is driven by both organizational and individual needs. Employees are given numerous resources to advance their careers, realize personal enrichment and achieve success.
Training curriculum is provided for every level of employee throughout the company.
An in-house team of training professionals provides services enhancing individual, team and department development.
Employees are active participants in managing their careers.
Inclusive and Supportive Atmosphere
Valero continually works to maintain a work environment that is inclusive and supportive.
Valero encourages leadership to maintain an open-door policy with employees at all times.
Specialized team development courses use assessments, team-building activities and goal-setting exercises to build a positive work environment.
Valero participates in diversity programs at local universities and offers diversity training courses to all employees and managers.
Valero Energy Corporation is a Fortune 500 company based in San Antonio, with approximately 22,000 employees and expected annual revenue of more than $75 billion. The company is one of the nation's largest retail operators with more than 4,700 retail and branded wholesale outlets in the United States, Canada and the Caribbean under various brand names including Valero, Diamond Shamrock, Shamrock, Ultramar, and Beacon. The company owns and operates 18 refineries throughout the U.S., Canada and the Caribbean with a combined throughput capacity of approximately 3.3 million barrels per day, making it the largest refiner in North America.
VeriFone Holdings, Inc. (“VeriFone”) (NYSE: PAY), a global leader in secure electronic payment technologies, provides expertise, solutions and services for today with a migration strategy for tomorrow. VeriFone delivers solutions that add value to the point of sale, resulting in improved merchant retention and the generation of new sources of revenue for its partners and customers. VeriFone solutions are specifically designed to meet the needs of vertical markets including financial, retail, petroleum, government and healthcare.
Valero Energy Corp (VLO) is a Fortune 500 oil and gas refining company based in San Antonio, Texas. Its 3.3 million barrels of production each day make it the largest refiner in North America. They also own one of the nation’s largest retail gasoline operations, selling fuel under multiple brands including Valero, Diamond Shamrock, and Beacon.
Business is booming at Valero! Bill Klesse, Valero’s CEO earned a bonus of more than $700,000. What did he do with it? He gave it to his employees!
Klesse instructed payroll to distribute his $700,000 bonus among Valero’s hourly employees in $50 increments. What a guy!
In visiting the Valero website, we read: Employees are our number-one asset. We strive to provide employees with the best compensation and benefits in the industry. Bill Klesse walks that talk.
The hourly employees who received this bonus will not soon forget the generous gesture of their top man. True generosity – an executive giving up a large portion his income to insure his employees are properly appreciated in these trying economic times. That kind of generosity cements loyalty. It inspires an extra-mile effort. It breeds like-mindedness in the rank-and-file.
For the employees of Valero, it is no surprise that the company has ranked No. 1 on Fortune magazine’s list of Best Big Companies to Work For. It’s not just the excellent benefits package, or the opportunities for personal growth. It’s also the caring and committed culture of the organization that makes everyone feel like they’re truly part of a team. Explore this section and learn if you have what it takes to join Valero.
A Culture of Excellence and Growth
Continuing education and training opportunities increase your knowledge and skills.
Career-path programs provide direction for career growth.
Valero promotes an atmosphere of acceptance throughout the company.
Competitive Benefits
Complete health and wellness programs help keep employees healthy.
Family-friendly benefits support work / life balance.
Inclusive package offers a wide variety of choices and benefits.
If you’re implementing employee retention strategies and tactics just to save your organization from the costly consequences of employee turnover (financial costs, reduced productivity, lost competitiveness, etc.) you’ll probably make some progress, but miss a lot of benefits.
Tactics alone only accomplish so much.
When they’re supported by values, you can accomplish much more.
What are these “values?”
It’s the belief that you undertake employee retention strategies not only to reduce negative consequences, but to also affirm and develop employees.
A person’s or leader’s or organization’s intentions behind their actions speak loudly.
If you implement only tactics and not values, you run company picnics, conduct exit interviews, and send birthday cards, but terminate an employee early to avoid paying her retirement.
If you implement only tactics and not values, you hire a new employee and “welcome her aboard,” but never tell her why you chose her in the first place.
If you implement only tactics and not values, you post your people-centered mission on the lobby wall, but ignore abusive supervisors or managers.
If you implement only tactics and not values, you talk about “open door policies,” but rarely give employees positive feedback about the good work they’re doing because “it’s what they’re being paid for.”
All of these have a major impact on retention.
It is retention values + tactics that result in turnover cost reduction and retains valuable employees.
Here’s a statement from a very successful company that explains what retention values + tactics look like.
According to Bill Greehey, chairman of San Antonio based Valero Energy Corp, “We’ve found that the more you do for your employees, the more they do for the company, the community, and the shareholders.”
The company has over 18,000 employees and consistently receives high rankings in Fortune magazine’s “Best Companies to Work For” awards. It’s presently ranked at number 22.
A Culture that Cares
Since the beginning, Valero has been a part of the life and spirit of the communities it serves. Whether it’s delivering meals to the elderly, mentoring at-risk youth, walking long distances on behalf of a cancer victim or clearing parks of unwanted brush, Valero is always there to lend a helping hand.
Valero volunteers throughout the company donate time, money and resources to help improve the lives of those in need.
Corporate giving ranges from the Valero Texas Open and Benefit for Children Golf Classic to donations from the Valero Energy Foundation. Learn more in the Community section.
Comprehensive Benefits
Valero offers one of the best benefit programs in the refining and marketing industry and among Fortune 100 companies, including:
Numerous choices to meet individual and family needs
Large and diverse selection of optional benefits
Valuable income and financial security benefits for full- and part-time employees
Educational assistance to support professional and personal development
Opportunities for Growth
Valero believes employee development is driven by both organizational and individual needs. Employees are given numerous resources to advance their careers, realize personal enrichment and achieve success.
Training curriculum is provided for every level of employee throughout the company.
An in-house team of training professionals provides services enhancing individual, team and department development.
Employees are active participants in managing their careers.
Inclusive and Supportive Atmosphere
Valero continually works to maintain a work environment that is inclusive and supportive.
Valero encourages leadership to maintain an open-door policy with employees at all times.
Specialized team development courses use assessments, team-building activities and goal-setting exercises to build a positive work environment.
Valero participates in diversity programs at local universities and offers diversity training courses to all employees and managers.
Valero Energy Corporation is a Fortune 500 company based in San Antonio, with approximately 22,000 employees and expected annual revenue of more than $75 billion. The company is one of the nation's largest retail operators with more than 4,700 retail and branded wholesale outlets in the United States, Canada and the Caribbean under various brand names including Valero, Diamond Shamrock, Shamrock, Ultramar, and Beacon. The company owns and operates 18 refineries throughout the U.S., Canada and the Caribbean with a combined throughput capacity of approximately 3.3 million barrels per day, making it the largest refiner in North America.
VeriFone Holdings, Inc. (“VeriFone”) (NYSE: PAY), a global leader in secure electronic payment technologies, provides expertise, solutions and services for today with a migration strategy for tomorrow. VeriFone delivers solutions that add value to the point of sale, resulting in improved merchant retention and the generation of new sources of revenue for its partners and customers. VeriFone solutions are specifically designed to meet the needs of vertical markets including financial, retail, petroleum, government and healthcare.
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