collarini energy staffing inc.december 2006 it’s not always about the money: on what do today’s...

Collarini Energy Staffing Inc. December 2006

It’s Not Always About the Money:It’s Not Always About the Money:On What Do Today’s Employees Place On What Do Today’s Employees Place

Value? Value?

Presented toPresented to

December 7, 2006December 7, 2006

It’s Not Always About the Money:It’s Not Always About the Money:On What Do Today’s Employees Place On What Do Today’s Employees Place

Value? Value?

Presented toPresented to

December 7, 2006December 7, 2006


Fair compensation is a fundamental expectationFair compensation is a fundamental expectation

Okay, it really is first about the moneyOkay, it really is first about the money


Base salaryBase salary

Sign-on bonusSign-on bonus

Performance bonusPerformance bonus

Technical trainingTechnical training

Tuition assistanceTuition assistance

Overriding royaltyOverriding royalty

Stock purchase planStock purchase plan

Stock options or Stock options or company participationcompany participation

Disability insuranceDisability insurance

Life insuranceLife insurance

Medical insuranceMedical insurance

Dental insuranceDental insurance

Vision insuranceVision insurance

Vacation and holidaysVacation and holidays

Savings [401(k)] planSavings [401(k)] plan

Pension planPension plan

Elements of compensationElements of compensation


Paid medical insurance is worth as much as $18,000 Paid medical insurance is worth as much as $18,000 per year per year

An escalating-contribution-percentage savings plan An escalating-contribution-percentage savings plan $100,000 per year salary$100,000 per year salary 30 years30 years $800,000 TODAY$800,000 TODAY

An escalating-contribution pension plan An escalating-contribution pension plan $700,000 TODAY$700,000 TODAY

Valuing non-salary compensationValuing non-salary compensation


Valuing all elements of the compensation packageValuing all elements of the compensation package

Make it easy for new employees to understandMake it easy for new employees to understand

Provide a periodic refresher for all employeesProvide a periodic refresher for all employees

Perhaps make it part of their annual personal reportPerhaps make it part of their annual personal report

Communicating compensation valueCommunicating compensation value


Today's employees look for more than compensation Today's employees look for more than compensation and benefits…...they want to work where they are and benefits…...they want to work where they are recognized and rewarded for performance, where recognized and rewarded for performance, where there is good communication, and where they are part there is good communication, and where they are part of the success of the company.of the success of the company.

But it is more than just the money……But it is more than just the money……


““Let’s survey our own employees!”Let’s survey our own employees!”


Categories addressed career, work environment, and Categories addressed career, work environment, and

personal issuespersonal issues

36 non-monetary factors addressed in those 3 36 non-monetary factors addressed in those 3

categoriescategories

Respondents rated each factor 1 to 5, 1 being a must-Respondents rated each factor 1 to 5, 1 being a must-

havehave

Collarini survey of oil industry employeesCollarini survey of oil industry employees


"Please name one area where our company can "Please name one area where our company can improve."improve."

More formal performance evaluation processMore formal performance evaluation process

Formal acknowledgement of good work with some Formal acknowledgement of good work with some type of award type of award

More team building eventsMore team building events

Collarini pilot programCollarini pilot program


Personal plea to get higher response ratePersonal plea to get higher response rate

Five minutes to respondFive minutes to respond

Completely anonymousCompletely anonymous

1,026 people responded1,026 people responded

Double the expected responseDouble the expected response

Collarini survey of oil industry employeesCollarini survey of oil industry employees


Respondents by years of experienceRespondents by years of experience

0 – 10 years 0 – 10 years 116116

10 – 20 years 10 – 20 years 171171

20 – 30 years 20 – 30 years 447447

30 + years 30 + years 289289

Years of ExperienceYears of Experience Number of RespondentsNumber of Respondents


Corporate reputation636 = 62%Challenging work 572 = 56%My team 458 = 45%New ideas welcome 445 = 43% My supervisor

433 = 42%Influence on decision making 373 = 36%Commute time 368 = 36%Corporate leadership 382 = 37%Flexible work hours 357 = 35%Technology up to date 328 = 32%Corporate vision 317 = 31%Available tech. or prof. career paths 300 = 29%

Corporate reputation636 = 62%Challenging work 572 = 56%My team 458 = 45%New ideas welcome 445 = 43% My supervisor

433 = 42%Influence on decision making 373 = 36%Commute time 368 = 36%Corporate leadership 382 = 37%Flexible work hours 357 = 35%Technology up to date 328 = 32%Corporate vision 317 = 31%Available tech. or prof. career paths 300 = 29%

Respondents rating issues #1 in importanceRespondents rating issues #1 in importance


• • My supervisor 1.82My supervisor 1.82• Challenging work 1.87Challenging work 1.87•• My team 1.90My team 1.90•• New ideas welcome New ideas welcome 1.901.90•• Flexible work hours Flexible work hours 1.951.95• Commute time 1.98Commute time 1.98•• Corporate reputation Corporate reputation 1.981.98

Least important: Least important: variety of office variety of office locations and child, locations and child, elder care supportelder care support

• Challenging work Challenging work 1.781.78• My team 1.88My team 1.88• New ideas welcome New ideas welcome 1.891.89• My supervisor 1.93My supervisor 1.93• Corporate reputation Corporate reputation 1.981.98

Least important: Least important: child, elder care child, elder care supportsupport

Women (176) highest AVERAGEWomen (176) highest AVERAGEMen (840) highest AVERAGEMen (840) highest AVERAGE

Most important issues by genderMost important issues by gender


ManagersManagers

Challenging work 1.60Challenging work 1.60

Team 1.76Team 1.76

Influence on decision making Influence on decision making 1.831.83

Corporate reputation 1.83Corporate reputation 1.83

Supervisor 1.88Supervisor 1.88

Welcome new ideas 1.91Welcome new ideas 1.91

Corporate leadership 1.99Corporate leadership 1.99

◆ ◆ Challenging work 1.70Challenging work 1.70

◆ ◆ Welcome new ideas 1.77Welcome new ideas 1.77

◆ ◆ Supervisor 1.85Supervisor 1.85

◆◆ Technology up to date 1.85Technology up to date 1.85

◆◆ Team 1.85Team 1.85

◆◆ Influence on decision making Influence on decision making 1.891.89

◆ ◆ Level of technology 1.91Level of technology 1.91

Geologists Geologists

Most important issues by positionMost important issues by position


Engineers Engineers


Team 2.00Team 2.00



Commute time 2.12Commute time 2.12


Flexible work hours 2.17Flexible work hours 2.17

Welcome new ideas 1.48 Welcome new ideas 1.48



Team 1.68 Team 1.68




Corporate vision 1.77Corporate vision 1.77

Technology up to date 1.86Technology up to date 1.86

Personal and professional Personal and professional networking 1.91networking 1.91


Other professionals (sales, financial, business, etc.) Other professionals (sales, financial, business, etc.)



Support personnelSupport personnel


Corporate leadership Corporate leadership 1.921.92



Flexible work hours 2.0Flexible work hours 2.0


Team 1.69Team 1.69





Corporate vision 1.87Corporate vision 1.87


Landmen Landmen



Human resources personnelHuman resources personnel

Corporate reputation Corporate reputation 2.072.07

Corporate leadership Corporate leadership 2.072.07

Security of premises Security of premises 2.072.07

Work hours at home Work hours at home 2.142.14


Child/elder assistance Child/elder assistance 2.142.14



Least important issues Least important issues

• Provision of child and Provision of child and

elder careelder care

• Variety of office Variety of office

locationslocations

• Office amenitiesOffice amenities


0

50

100

150

200

250

300

350

1 2 3 4 5

Importance

0

50

100

150

200

250

300

350

400

1 2 3 4 5

Importance

Nu

mb

er o

f res

po

nden

ts0

50

100

150

200

250

300

350

400

1 2 3 4 5

Importance

Num

ber

of r

espo

nden

ts

0

50

100

150

200

250

300

350

400

1 2 3 4 5

Importance

Technical/professional trainingTechnical/professional training Non-technical trainingNon-technical training

Flexible work hoursFlexible work hoursOffice amenitiesOffice amenities

Other issues of interest Other issues of interest


0

50

100

150

200

250

300

350

400

1 2 3 4 5

Importance

0

50

100

150

200

250

300

350

1 2 3 4 5

Importance

0

50

100

150

200

250

300

350

400

1 2 3 4 5

Importance

Commute timeCommute time Child or elder careChild or elder care

Networking Networking opportunitiesopportunities

Other issues of interest Other issues of interest


Every individual has needs, desires, and

challenges unique to him or her…..

Every individual has needs, desires, and

challenges unique to him or her…..


““I used to be in it for the sex, but that got old. I used to be in it for the sex, but that got old. Now I am in it for the money.”Now I am in it for the money.”

““My new position pays a little less, my title is less…My new position pays a little less, my title is less…but I get to go to parent teacher conferences and but I get to go to parent teacher conferences and see my daughter every night. I think this is one of see my daughter every night. I think this is one of the best jobs I have ever had!”the best jobs I have ever had!”

““It’s about treating people well, and you don’t have It’s about treating people well, and you don’t have to throw a lot of money around to do that.”to throw a lot of money around to do that.”

““Career development, values alignment, work-life Career development, values alignment, work-life balance are very key.”balance are very key.”

Comments from respondentsComments from respondents


““Career advancement and professional training opportunities are the Career advancement and professional training opportunities are the most important issues for me.”most important issues for me.”

““A clear, stable and trusting leader is the most important A clear, stable and trusting leader is the most important factor for me.”factor for me.”

““Cannot stand being made to work in a "common area" with no Cannot stand being made to work in a "common area" with no privacy, no walls, no place to put my 'things', I have turned down privacy, no walls, no place to put my 'things', I have turned down a full-time position because of this.”a full-time position because of this.”

““Important factors to me: Challenging work, knowing you Important factors to me: Challenging work, knowing you contribute, sharing your success with the community and enjoying contribute, sharing your success with the community and enjoying the company of people you spend over 40+ hours a week with.”the company of people you spend over 40+ hours a week with.”

““It doesn't feel like work when you work with a great group of It doesn't feel like work when you work with a great group of people and they respect you and your work.”people and they respect you and your work.”

“ “Main reason I want to leave my job now is that it isn't Main reason I want to leave my job now is that it isn't challenging. A monkey could do my job. The hours I'm working now challenging. A monkey could do my job. The hours I'm working now is not very good for a single male who wants a social life.”is not very good for a single male who wants a social life.”

““Able to make a significant contribution and be recognized appropriately.”Able to make a significant contribution and be recognized appropriately.”



““Its not the technology - its ALWAYS the Its not the technology - its ALWAYS the people”people”

““Many are mentioned, but I wanted to emphasize - Many are mentioned, but I wanted to emphasize - Recognition, Rewards for exceptional performance, Recognition, Rewards for exceptional performance, Opportunities for advancement are the main issues. Opportunities for advancement are the main issues. Money is important, but not always at the top of the list.”Money is important, but not always at the top of the list.”

““Work should be fun. If it's not, why are we Work should be fun. If it's not, why are we doing it?”doing it?”

““Reasonable amount of time off to pursue Reasonable amount of time off to pursue individual interests is VERY important as I individual interests is VERY important as I get older. It's NOT all about work, work, get older. It's NOT all about work, work, work!”work!”



How can we address individual needs?How can we address individual needs?

• Culture of supervisory awareness, respect, and careCulture of supervisory awareness, respect, and care

• Train supervisors and managersTrain supervisors and managers

• Offer flexibility in meeting individual needsOffer flexibility in meeting individual needs


Meeting the challengeMeeting the challenge

““God, please give us one more boom. We promise not to God, please give us one more boom. We promise not to screw it up this time. “screw it up this time. “

““Many companies are simply misreading what makes people Many companies are simply misreading what makes people happy at work. Beyond a certain minimum level, it isn't pay happy at work. Beyond a certain minimum level, it isn't pay or benefits. It's strong relationships and a supportive or benefits. It's strong relationships and a supportive boss.”boss.”

Thanks for your attention!Thanks for your attention!

collarini energy staffing inc.december 2006 it’s not always about the money: on what do today’s...

Documents