Working in the Oil and Gas industry has its challenges -- dangerous working conditions, long work hours, and physically demanding responsibilities all come par for the course. But, day in and day out, Oil and Gas workers make sacrifices so we can power our homes, drive our cars, and actually see when it gets dark. Unfortunately, these workers might not be around for much longer.
A disturbing new report found that workers in this industry are considering leaving the Oil and Gas sector in record numbers. But, before you panic, the same article pointed to how we can prevent this from happening.
Retention in Oil & Gas
Retention is critical to the success of any industry, but it is especially important in Oil and Gas. Experienced workers have seen a lot over the years, and that’s knowledge they can put to use mentoring new employees, identifying safety incidents before they happen, and saving lives. If these seasoned vets were to leave the workforce, it could spell major problems for the entire industry. Rory Ferguson, CEO of Petroplan, thinks that time could soon be upon us.
Ferguson tells Rigzone he has major concerns for the future of the industry, as over 75% of Oil and Gas professionals are ready to leave. Making matters worse, and further solidifying the importance of retaining your employees, millennials aren’t considering the industry with the same levels of enthusiasm as prior generations.
Problems with Retention in Oil and Gas
After an exhaustive analysis on the state of their industry, Petroplan came to a profound conclusion: employee engagement is a key component in retaining top talent. These high turnover rates aren’t merely a result of a societal change, they’re the end results of a disengaged workforce. When employees become disengaged, safety incident rates increase, productivity drains to a halt, and turnover rates skyrocket. And, with industry employee engagement rates much lower than the national average, these are problems the Oil and Gas industry have to deal with on a far too frequent basis.
Fortunately, this doesn’t have to be the case.
The Key to Retaining Top Talent
The key to retaining top talent, Mr. Ferguson’s findings concluded, is to boost employee engagement. Why? When employees are engaged, your company can yield incredible results – turnover rates decrease, safety incidents decline, and retention rates improve significantly. The secret all lies in creating a meaningful Culture of Engagement and Recognition – something we know a good deal about here at C.A. Short Company.
We’ve spent the past 80 years helping companies engage and recognize their employees, and we’re to help your company do the same. To get started, you may want to read our FREE eBook, Creating Safe Environments in Dangerous Places: Employee Engagement in the Energy & Utilities Industry. It’s loaded with great tips your company can start using today. Serious about jumpstarting your engagement efforts, or have a question you think we can answer? Reach out!
We’d love to chat.
C.A. Short Company partners with companies to manage, drive and facilitate increased employee engagement to increase financial performance, productivity, quality, and core performance outcomes. Our process and research-based platform enables executives and managers to engage their teams to increase the bottom line, motivate staff, and incentivize positive behavior. To Request a Complimentary Consultation, click here.