Attracting the best energy professionals: 
The cornerstone of every successful project.

As reserves become more challenging to find and the industry rallies to develop alternative energies, the professionals driving the extraction of oil & gas, LNG and other alternate energy are more crucial than ever.

The Energy industry depends on a limited pool of individuals to lead energy projects from conception to completion on time and on budget. The shortage of experienced professionals to manage, implement and deliver projects in senior roles means that getting the right team in place is the first vital hurdle on the way to project success. With the right combination of specialists on board, retaining them throughout the project lifecycle is critical.

Experience shows that carefully selecting and rewarding project teams is essential to a successful outcome. For one oil operator, paying project-critical professionals 25 per cent or more over the ‘going rate’ helped secure 100 per cent staff retention.

Issuing bonuses to coincide with project-critical milestones is another approach to avoiding the fallout of losing senior staff mid-project. This is common with near-completed site work where teams are often thinking ahead to their next project while completing the job at hand. The high cost of disrupting a project to secure necessary resources means that regularly rewarding and motivating those in senior or specialist roles can pay dividends.

Retention initiatives like these work extremely well in gaining oil and gas professionals’ commitment through to the agreed end point, e.g. first oil or gas. When it comes to energy, time is of the essence in the rush to exploit dwindling new discoveries and exhaust remaining existing fields. Given the possible multi- millions at stake if a project team dissolves prematurely, it’s highly advisable to factor in competitive rewards at the project planning stage.

After all, the reverberations of losing a senior team member far exceed the sum of competitive rates and bonuses. In short, with time-critical projects, investing early on to secure in-demand skill sets is a proven strategy for bottom line benefits in the longer term.

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