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Employee Retention of Halliburton

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Employee Retention of Halliburton
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Pratik Kukreja
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Employee Retention of Halliburton - April 12th, 2011

Halliburton is the world's second largest oilfield services corporation with operations in more than 70 countries. It has hundreds of subsidiaries, affiliates, branches, brands and divisions worldwide and employs over 50,000 people.

The company has its headquarters in the North Belt office in Houston, Texas, and in offices in Dubai, United Arab Emirates (opened March 2007), where Chairman and CEO David J. Lesar works and resides, "to focus [the] company’s Eastern Hemisphere Growth."[7] The company will remain incorporated in the United States.

Halliburton's major business segment is the Energy Services Group (ESG). ESG provides technical products and services for petroleum and natural gas exploration and production. Halliburton's former subsidiary, KBR, is a major construction company of refineries, oil fields, pipelines, and chemical plants. Halliburton announced on April 5, 2007 that it had finally broken ties with KBR, which had been its contracting, engineering and construction unit as a part of the company for 44 years.

Landmark offers a blended approach to training that will help increase efficiency and help maximize return on your technology investment. We provide knowledge and skill development for new hires through seasoned professionals in the application of Landmark technology to support data management, analysis, and decision making, with a wide array of training options:
Multi-tiered learning programs, from beginner to expert:
Level One: Web-based training options to reduce time away from the worksite, provide just-in-time learning options, and support more rapid development of technical competencies
Level Two: Extensive classroom training that includes more than 100 courses, from basic to expert levels, delivered throughout the year in over 20 training centers located around the globe
Level Three: Rich, scenario-based training and mentoring to support planning and decision making
Level Four: Customized programs to meet the learning goals of your organization and build the required competencies of your users
Robust technical on-boarding programs for clients to support recruitment and employee retention efforts
Customized, learning and development services designed to meet customer specific business requirements either at Landmark locations or at your site.

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NEW YORK -- Halliburton (NYSE: HAL) employees remain optimistic on their company's future, New York research firm Vault has found in new employee surveys on the oil engineering company. The survey results, published today, can be accessed on Vault.com.

Vault's employee surveys give investors and jobseekers insight into the company's business operations.

Says one former senior manager, "Halliburton is a strong competitor. Their biggest competition is with Schlumberger. Baker Hughes, BJ Services and Weatherford are also strong competitors. (Halliburton has) gone through management changes the past 3 years, their culture and morale has dramatically changed. However, new leadership there seems to be rebuilding it. Halliburton has a good strategic planning process that they've continued to hone over the past few years. They do a great job in analyzing the competition and gathering the voice of the customer. Their weakness is often time to market, although that has continued to improve. Morale at this time, from my understanding is pretty low."

Halliburton Energy Services Group
is a global oilfield services company
with 45,000 employees in 70
countries. The majority of our
revenue is derived from the sale of
services and products to major,
national and independent oil and
gas companies from the earliest
phases of exploration through the
development and production of oil
and gas. The Energy Services
Group is organized into three main
divisions and eight product service
lines (PSLs), and in geographic
regions that reflect how we serve
our customers.
We are investing in capital spending
for equipment and infrastructure
and in developing new technology
that will make finding and
producing oil more efficient and
safer and also minimize the
footprint we leave behind.
We are also investing in highgrowth
areas in the Americas,
Asia Pacific, the Middle East and
Africa, and we are developing
local sourcing and strategic
manufacturing capabilities in
Singapore, Malaysia, Mexico and
Brazil to support that business.

Digital computers first made their way into the search for oil and gas in about 1959; about a hundred years after Drake drilled his famous Titusville, Pennsylvania well. An information technology revolution was sparked that continues at a rapid pace to this day.
The E&P information technology age is often separated into three fundamental periods:
1956 – 1980 – Mainframe computing era
1981 – 1989 – Standalone computing era
1990 – present – Technical data integration era
Each era brought evolutionary and revolutionary advances in E&P technology, enabling energy companies to achieve new levels of productivity and competitive adaptability.
Midway through the E&P Information Age and at approximately the start of the second era - July 15, 1982 to be exact - an entrepreneurial Houston-based company, Landmark Graphics Corp., was born. Two years later, Landmark introduced the first-ever interactive 3-D seismic interpretation workstation in which the available tools equaled the task at hand. With the power of an integrated system of computer hardware and software, interpreters finally were able to do what they were trained to do – formulate and test hypotheses and synthesize conclusions about the location of oil and gas.
This, then, is the story of Landmark Graphics, from its four founders to scores of dedicated employees having the brightest and most creative minds in the energy industry and a few brave venture capitalists who came together to transform a vision into reality.

The product that Landmark was creating had never been built before; had never even been conceived of before and it all started in the mind of one very rare individual, Roice Nelson. He had the ability to visualize things in his mind even though they had never existed previously.
Although the venture capitalists were committed to Landmark, they required solid results. The second million of their commitment would not arrive until the company actually produced a system for the 1983 SEG Annual Meeting in Las Vegas. It was a make or break event for Landmark.
Landmark created quite a stir at the 1983 SEG meeting. They heard everything from, "It'll never work," to "I want one now." Despite the naysayers, the systems began selling.
In August 1984, Landmark shipped three interactive workstations: one to Melbourne, another machine to London and the third one, to Dallas. Barely more than two years after their first brainstorming session, the "original four" had demonstrated to an international market that their product could satisfy a critical need in the energy industry.
The systems were priced at $240,000. Andy Hildebrand said, "Bob Limbaugh set the price, mostly because they were expensive to assemble. It was also because Bob thought the market would bear it, and he was right."
In many ways, Bob Limbaugh established some of the positive characteristics of Landmark. He had an absolute conviction that marketing is important and it has to be done with dignity and with an understanding of what the customer wants and needs. The early Landmarkers taught the rest of the industry by example.

One of the greatest benefits of a
commitment to sustainable
development is the ability to
strengthen relationships with our
internal and external stakeholders.
By demonstrating that our
Company is managing risks and
positioning itself to address
emerging opportunities, we build
investor confidence and enhance
our business value. And by
demonstrating that we are
operating in a socially responsible
manner, we build trust and
goodwill with our employees, our
customers, local communities,
regulators and governments.
Governance and Ethics
The definition of corporate success
has come to include fair dealing,
respect and strict adherence to
ethical and legal responsibilities in
all interactions with a company’s
constituencies: stockholders,
communities, employees and
customers. At Halliburton, the basis
for this behavior can be found in
our commitment to doing the right
thing, which is reinforced by our
Code of Business Conduct (COBC)
and our Corporate Governance
We actively promote our principles
of ethical behavior and enforce our
code of conduct to guide employees
in the operating methods and
procedures of their day-to-day
activities. General COBC training is
available to all employees through
classroom and online sessions. In
2006, we modified our Energy
Services Group employees’ annual
employment evaluation process –
People, Performance, Results
(PPR) – to include a section on
ethics. This change will go into
effect in 2007.
The 2006 Energy Services Group
employee survey indicated that our
employees understand the COBC
(94 percent favorable) and know
where to go for questions or
concerns (87 percent favorable).
These two questions were among
the highest-percentage favorable
responses for the entire survey.
Halliburton’s corporate governance
guidelines provide our board of
directors with a fair and honorable
model to oversee its role as the
guardian of shareholder interest.
A report on the ethics and
compliance program is presented
to the Audit Committee of the
board of directors in December of
each year. The committee is also
informed of any fraud that may be
uncovered involving $50,000 or more.
The corporate governance guidelines
and bylaws were amended Oct. 19,
2006, to implement majority
voting. The amendment, contained
in Section 4 of the bylaws, now
provides that, at the annual
meeting, each director shall be
elected by the vote of the majority
of the votes cast.
Talent Attraction
and Retention
Of all our relationships, the most
important is the one we have with
our people, who are the embodiment
and outward expression of
Halliburton’s values. As a service
company, we are only as good as our
people, whose dedication and
know-how wins jobs, innovates
and delivers results.
Today’s high-demand energy
market has exposed a challenge
that has been building for years: the
“aging of the workforce” in the oil
and gas industry. Several years ago,
in anticipation of this shift, we
began developing a focused people
strategy of aggressive recruiting,
accelerated development and
vigorous retention.

The spread of synergistic, cross-functional "asset teams" in the early 90s sparked increased interest in Landmark's unique integrated approach. Following its successful 1990 entry into geology, Landmark strategically expanded its software portfolio through new development and acquisition of market leaders in related geoscience disciplines. The acquisitions included ExploiTech, Inc., a consulting firm that specialized in integrated E&P services. Additional acquisitions during this period of time were Petroleum Computing, Inc. specialists in well log software and consulting services; and Zycor, the market leader in interactive mapping/modeling software for subsurface geology.
Integration became Landmark's key differentiator in a market loaded with standalone applications. Integration took on numerous practical forms, including streamlined data transfer between applications, common user interface design, shared algorithms and display methods and ultimately, seamless data sharing by way of the common OpenWorks database.
It was during this period of time that Landmark's first application to bridge geology and geophysics emerged on the scene. An early synthetic seismogram tool, MIRA, was released in 1993. As a result, geophysicists could better tie well data with seismic and instantly view new well logs, tops and picks in the time domain while geologists could view seismic interpretations in depth.
As new applications became part of the Landmark family, the underlying OpenWorks data model was systematically expanded to accommodate additional E&P data types. To provide asset team members with easier access to the growing variety of project data stored in OpenWorks, the first map-based, interactive data browsing and query application was released in 1993. Users began spending less time searching for data and more time interpreting it.
As the RISC-based workstation architecture emerged in the mid-1990s and replaced costly mainframes, Landmark expanded its footprint in the upstream software space by acquiring Advance Geophysical in 1994. Advance, with its industry leading seismic processing products ProMAX® and MicroMAX, provided a perfect seismic delivery complement to Landmark’s interpretation tools.
With smaller targets, few geoscientists and more data to interpret than ever before, oil companies – large and small – were turning to computers and advanced software for answers. Landmark products allowed geoscientists and engineers to image the structures below the earth's surface before drilling expensive wells. The result: higher success ratios and dramatically lower finding costs.

The shareholders of Halliburton are trying to stop state-sponsored terrorism, using same economic leverage that was effective against South African racism in1970's. Back then, shareholders used corporate resolutions to stop companies from doing business in South Africa. The tactic helped bring a peaceful end to an unpopular regime. Today, shareholders are trying to stop companies from doing business with "sponsors of terrorism". Many Americans would be alarmed to learn that American corporations are doing business with countries who are linked to terrorism. U.S. law currently restricts trade by American companies with states designated as "sponsors of terrorism." Halliburton is an American company doing business with two restricted nations - Iran and Syria. The company circumventedlaw by opening an office in Iran under name of Halliburton Products and Services Ltd, its Cayman Islands subsidiary. The U.S. government may not be able to stop company from using a subsidiary in this manner, but company is contending with an angry group of New York City Police and Fire Department pension fund owners. On November 12, 2002, group submitted a shareowner resolution regarding Halliburton's office in Iran. The resolution points out that U.S. law restricts trade by American companies in countries such as Iran, who are designated by U.S. State Department as "sponsors of terrorism." The company believes that operations of its subsidiaries in Iran are in compliance with U.S. law. Halliburton may, in fact, be operating legally in a technical sense. Some investors are not satisfied. According to William Thompson,New York City comptroller who oversees $80 billion in pension funds for all city workers, oil revenue fromwork company is doing may be underwriting or supporting terrorism. In March of 2003, Halliburton agreed to fulfill terms of resolution by establishing a Board committee to review potential financial and reputational risks of its Iranian operations and submit a report. Thompson subsequently withdrew resolution. However, Halliburton's report submitted in October of 2003 failed to address concerns specified inpension funds' proposal. The report focused on financial and legal risks, and said nothing about reputational risk, or potential public backlash against company. It's only a theory, but Halliburton may be reluctant to address issue due to fact that Vice-President of United States was in charge of corporation when Cayman subsidiary was formed. In any event, Thompson considered report to be a breach of Halliburton's promise to Fire and Police pension funds. In a letter to David J Lesar, CEO of Halliburton, Thompson said "your counsel cannot excuse Halliburton's complete failure to report on reputational risks of Halliburton's business activities in Iran by repeating, as she does, your report's statement that Halliburton's activities are technically within letter of law."

Last edited by bhautik.kawa; April 12th, 2015 at 02:03 PM..
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