Phillips 66 Releases Human Capital Management Report

Rhea-AI Summary

Phillips 66 (NYSE: PSX) released its 2021 Human Capital Management Report, highlighting its strategies to foster a diverse and high-performing workforce in the energy sector. The report emphasizes the importance of innovation, collaboration, and employee development as the company adapts to the energy transition. Key areas addressed include progress toward inclusion, investment in employee skills, and a commitment to transparency and accountability. With $56 billion in assets as of December 31, 2021, Phillips 66 continues to prioritize employee well-being and organizational growth.

Positive

• Released a comprehensive Human Capital Management Report showcasing commitment to diversity and inclusion.
• Invested in employee development to enhance general skills and technical expertise.
• Demonstrated resilience through the pandemic while maintaining focus on a high-performing culture.

Negative

• None.

Report describes how the company is preparing for the future by strengthening its culture, building a diverse talent pipeline and evolving its benefits

HOUSTON--(BUSINESS WIRE)-- Phillips 66 (NYSE: PSX) today published its 2021 Human Capital Management Report, a comprehensive look at the company’s approach to building a high-performing organization that is ready for the challenges of the energy transition.

“Our goal is to provide an environment where our employees can innovate, collaborate and explore new energy solutions,” said Phillips 66 Chairman and CEO Greg Garland. "We want every employee to reach their full potential to better our business, our industry and our world."

The 2021 report builds on last year’s inaugural report, offering more data and insights on how the company stayed resilient through another year of the pandemic while reinforcing its commitment to inclusion and diversity and aligning its benefits to meet the needs of its workforce.

“We are proud of what we’ve accomplished, and this report is another tool that will hold us accountable for meaningful change,” said Sonya Reed, Senior Vice President of Human Resources and Corporate Communications for Phillips 66. “Transparency and data are important to show where we’ve been, where we are today, and where we aim to go in the future.”

The Phillips 66 report covers, among other things:

• The key principles that shape the company’s human capital management strategy.
• The progress made to further an inclusive culture where diversity in all its forms can thrive.
• Phillips 66’s efforts to build innovative teams and find new ways of working.
• The company’s approach to actively listening to employees and responding in a meaningful way.
• The investment in employee development to build general skills and depth of technical expertise.

The full report can be found at phillips66.com/our-people.

About Phillips 66

Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Headquartered in Houston, the company has 14,000 employees committed to safety and operating excellence. Phillips 66 had $56 billion of assets as of Dec. 31, 2021. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220315006262/en/

Jeff Dietert (investors)

832-765-2297

jeff.dietert@p66.com

Shannon Holy (investors)

832-765-2297

shannon.m.holy@p66.com

Thaddeus Herrick (media)

855-841-2368

thaddeus.f.herrick@p66.com

Source: Phillips 66

FAQ

What is the purpose of Phillips 66's 2021 Human Capital Management Report?

The report outlines Phillips 66's strategies for building a diverse, high-performing workforce and preparing for the energy transition.

How has Phillips 66 addressed diversity and inclusion in its 2021 report?

The report details progress made in fostering an inclusive culture that supports diversity in all forms.

What are some key highlights from the Phillips 66 2021 report?

Highlights include employee development investments, strategies for innovation, and a commitment to transparency.

When was the 2021 Human Capital Management Report released by Phillips 66?

The report was released on March 15, 2022.

How much in assets does Phillips 66 have as of December 31, 2021?

Phillips 66 reported $56 billion in assets as of December 31, 2021.