Customer Story:

Retaining Talent During Rapid Growth: An Oil & Gas Transformation

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Building Stability in a Dynamic Industry

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Challenge:

An oil and gas company was experiencing rapid growth through operational site acquisition and inorganic growth with clashing processes and vision, the organization needed to improve the employee experience and investigate the drivers of employee retention and engagement during a period of significant organizational change.

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Solution:

Designed measurement model with company leadership to identify areas of the culture that were a strength and opportunity areas to be investigated. Deployed survey and conducted analysis to identify the catalysts of retention and engagement, focusing on leadership trust, goal alignment, employee development, and work-life balance factors, with additional specific insights for each business function leader.

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Outcome:

Analysis showed that leadership, goals and objectives, and work-life balance accounted for 41% of employee retention and along with perceptions of employee development accounted for 76% of employee engagement. Every 1% increase in leadership trust, goal clarity, employee development, and work flexibility metrics corresponded to 0.41% improvement in intention to stay and 0.76% improvement in engagement. Company implemented targeted improvements in leadership communication and transparency, functional restructuring and goal alignment, and implementing training and development programs and technology.

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• 41% of retention driven by leadership trust, goal alignment, and employee development.

• 76% of engagement influenced by leadership trust, goal clarity, and work-life balance.

• Improvements in key employee experience areas resulted in 0.41% point increase in retention and 0.76% increase in engagement for improvement in key factor.