Solvay

Solvay Strengths Solvay has a human resources manager, Marcel Lorent who was specifically hired for International Mobility - Solvay introduction. Under Lorent is a group whose job it is to assist each and every expat in any way possible. Over the years, this group has made many changes to the expat process in order to make it smoother and more consistent throughout. The company’s culture was built on agreement. Everyone’s opinions are heard, shared, and taken into consideration. The group’s strategy concentrated on consistency.

Lorent’s two main goals are to improve the international mobility process and make the transition as smooth as possible. Solvay viewed innovation as the main source for expanding and competing. Most of Solvay’s faculty comes from internal employee transfers and promotions. This is beneficial because they already understand the company’s culture which allows for a more fluent and efficient adjustment period throughout different branches and promotions. The bosses would make employees feel valued because they would make persuasive arguments for their employees if the employees wished to remain at the same job.

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Solvay has a very low turnover, which means the employees are happy with their job. In addition to agreement-driven, Solvay’s culture is also based strongly on relationships. Lorent makes time for his employees and builds close informal relationships with them by meeting with each management position for a face to face meeting once or twice a year. Solvay’s human resource department implemented a succession plan in order to have potential employees in place when positions opened. The company uses a performance and development appraisal process for selection.

Solvay prefers to hire young candidates and assimilate them into the organization. The company has a particular strength in growing its employees from inside the company. Solvay uses talent roundtables and potential pools to fill senior positions. The senior leaders of Solvay a very qualified, each have had experience in at least two divisions, in two functions, and have worked in two countries. International skills and success are essential for high-level promotion positions. Solvay prioritizes employee movement for many reasons.

Spreading talent throughout the company, developing new international skills, and instilling a sincerely multicultural team are Solvay’s competitive advantages. Solvay is appealing to many young engineers because they see the opportunity to travel to various areas while working. When people are looking for an international career, they focus on the work experience more than the money they will earn. Another strength that Solvay can capitalize on is their diversified product line. By offer products in three different markets allows them to have large brand recognition.

The three markets’ also decreases the company’s vulnerability to market recessions. Pharmaceuticals, plastic, and chemicals spread the company out into three markets allowing for breakthroughs and advances in a single market helps fund R&D in markets and products that are not advancing at a desirable rate. Each product line, pharmaceuticals, plastic, and chemicals also have unique financial requirements making it possible for a Solvay to build off of its own successes in order to grow other aspects of its business.

For example, the chemical department has a large upfront investment demand which in return leads to profit maximization over a longer period of time. On the other hand, Solvay can see a very short turnaround time for its ROI in the plastic industry where its management strengths are focused around quick reaction times and their flexibility to adapt to customers’ needs in order to maximize profits. Combining a variety of product, management, and financial needs efficiently creates the ability of Solvay to gain another advantage over its competition through economy of scale.

The size of the company and its financial situation allows Solvay to place and deliver massive orders which results in a decrease in its average total cost per product gaining a price advantage over its competitors. Many companies trying to compete with Solvay cannot afford entry startup cost of the industry nor can withstand the length of time from initial investment to the time a product starts producing profits for a company in the chemical industry like Solvay.

These diverse management techniques that are integrated throughout each product associated with Solvay leads to strengths of utilizing and relocating management to the most efficient fields that are offered in the wide variety of management styles. * Most of Solvay’s faculty comes from internal employee transfers and promotions. This is beneficial because they already understand the company’s culture which allows for a more fluent and efficient adjustment period throughout different branches and promotions. Another strength that Solvay can capitalize on is their diversified product line. By offer products in three different markets allows them to have large brand recognition. The three markets’ also decreases the company’s vulnerability to market recessions. Pharmaceuticals, plastic, and chemicals spread the company out into three markets allowing for breakthroughs and advances in a single market helps fund R&D in markets and products that are not advancing at a desirable rate.

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