Question: Where does ExxonMobil employees rank their management?
ChatGPT Answer: According to a website called Comparably.com, ExxonMobil employees rate their manager a C+ or 67/100 based on 141 ratings. The website says that the score takes into account how employees feel and value their relationship with their manager.
However, some former employees and leaked documents have revealed that Exxon changed its employee-ranking system amid the oil-price crash in 2020, exposing more workers to performance-based cuts. The company expanded the minimum number of employees that must be classified as Needs Significant Improvement (NSI) in the annual review cycle. Some of those employees are forced to resign, while others have the option to enroll in a performance improvement plan.
Exxon says it has no plans for layoffs and that employees who need significant improvement are given a plan and opportunities to improve their performance.
Question: How does ExxonMobil Management Compare to Other Companies?
ChatGPT Answer: ExxonMobil’s management can be compared to other companies in terms of their leadership style, vision, strategy, performance, and reputation. However, there is no definitive answer to which company has the best management, as different companies may have different goals, challenges, and opportunities in the oil and gas industry.
Some possible ways to compare ExxonMobil’s management to other companies are:
Leadership style: ExxonMobil’s management is known for being conservative, disciplined, and risk-averse. The company focuses on long-term value creation and operational excellence. Some critics say that this approach makes the company slow to adapt to changing market conditions and customer preferences. Other companies, such as Chevron or Shell, may have more flexible and innovative leadership styles that allow them to pursue new opportunities and technologies.
Vision: ExxonMobil’s management has a vision of being the world’s premier petroleum and petrochemical company. The company aims to provide energy for economic growth and human progress, while meeting the highest standards of safety, environmental stewardship, and social responsibility. Other companies, such as Total or BP, may have a broader vision that includes transitioning to low-carbon energy sources and investing in renewable energy projects.
Strategy: ExxonMobil’s management follows a strategy of investing in high-quality assets that have competitive advantages and growth potential. The company focuses on three core businesses: upstream (exploration and production of oil and gas), downstream (refining and marketing of petroleum products), and chemical (manufacturing and selling of petrochemicals). The company also seeks to leverage its global scale, integration, and technology leadership3. Other companies, such as ConocoPhillips or Occidental Petroleum, may have a different strategy that involves divesting non-core assets, focusing on specific regions or segments, or acquiring other companies .
Performance: ExxonMobil’s management has delivered strong financial and operational performance over the years. The company has been consistently profitable, generating $14.3 billion in net income in 2019. The company has also been a reliable dividend payer, increasing its dividend for 38 consecutive years. The company has also maintained a high level of production, averaging 4 million barrels of oil equivalent per day in 20193. Other companies, such as PetroChina or Gazprom, may have higher revenues or production levels than ExxonMobil, but they may also face more volatility or regulatory risks .
Reputation: ExxonMobil’s management has a mixed reputation among various stakeholders. The company has been praised for its operational excellence, financial discipline, and social responsibility initiatives. The company has also been recognized for its contributions to scientific research and education. However, the company has also been criticized for its environmental impact, climate change denial, human rights violations, and political influence. The company has faced lawsuits, protests, boycotts, and sanctions from various groups over the years . Other companies, such as Shell or BP, may have a better reputation among some stakeholders, but they may also have their own controversies and challenges .
As you can see, there are many factors to consider when comparing ExxonMobil’s management to other companies. Ultimately, the best management may depend on your perspective and preferences as an investor, employee, customer, or citizen.