What do you do if your top talent keeps leaving the oil and gas sector?

If your best employees keep leaving the oil and gas industry, it's crucial to find out why. Talk to them when they leave to learn what's making them go. Try to make work better for everyone by offering chances to grow, fair pay, and a happy workplace. Show you value your team to keep them around.

As forward-thinking oil and gas companies diversify their portfolio to embrace energy transition, they endeavor to secure specialist engineering, digital and commercial talent to develop new lines of business, while trying to retain and refresh the skill base to sustain their existing core business. The challenge of experienced workforce retirement, as well as negative perception of the fossil fuel sector among the next generation of talent, intensify the competition between companies to attract and retain top talent. To enhance their attractiveness to the emerging talent market, companies may reevaluate their employee value proposition (EVP), and tap into the global talent pool.

It is important to emphasize that talent retention in the oil and gas sector is intrinsically linked to companies' ability to provide a challenging work environment, professional growth opportunities, and the adoption of sustainable and innovative practices. Implementing career development programs, promoting an inclusive organizational culture, and investing in cutting-edge technologies are key strategies for attracting and retaining qualified talent. Understanding the expectations and needs of professionals is essential for creating an attractive work environment and maintaining a talented and engaged workforce.

The most effective means of enhancing talent engagement is through revisiting employee value proposition (EVP), which defines the unique promise made to employees regarding experiences and benefits that they can expect to receive from a company. Effective value propositions typically comprise four components: the company's purpose, values, and culture; its leadership, which includes the employee relationship with managers; the employee's role (including developmental opportunities); as well as their rewards, including intangible benefits, such as improved well-being and opportunities to reinforce family ties, which are especially important for remote workers.

The implementation of mentoring and coaching programs, promoting a culture of innovation, and creating opportunities for employees to engage in challenging and meaningful projects are valuable strategies to increase engagement and talent retention in the oil and gas sector. Contextualizing a work environment that values and encourages growth and development of employees is essential for maintaining a qualified and engaged workforce.

Flexibility in the workplace not only contributes to talent retention but can also promote employee satisfaction and well-being, resulting in a more productive and harmonious work environment. The ability to adapt to the individual needs and preferences of employees is essential for creating an inclusive workplace that values work-life balance. By offering flexibility, companies in the oil and gas sector can demonstrate a genuine commitment to the well-being and development of their workforce, contributing to the retention of qualified and engaged talent.

Compensation goes beyond financial aspects. In addition to monetary factors, professionals seek recognition, growth and development opportunities, as well as a work environment that values their contributions. Therefore, creating an environment that promotes recognition, professional development, and appreciation of employees' work is crucial for talent retention in the oil and gas sector. Furthermore, transparency in communication about compensation criteria and offering benefits that meet employees' needs and expectations are important strategies to ensure competitiveness in compensation.

Promoting innovation creates a dynamic and stimulating work environment, attracting talents who want to be part of visionary and pioneering companies. By encouraging creativity and experimentation, companies in the oil and gas sector can establish themselves as employers of choice for professionals seeking significant challenges and opportunities to contribute to the sector's evolution.