Halting the Revolving Door: How Effective Training Programs Can Mitigate Employee Turnover in the Oil and Gas Industry

The oil and gas industry (O&G) is no stranger to challenges, given its volatile and high-stakes environment. One persistent and costly issue it faces is employee turnover. In recent years, this sector has witnessed a revolving door of employees leaving in less than five years, perpetuating a continuous cycle of hiring, rehiring, training, and retraining.

Employees are your best asset. Implementing a comprehensive training program can mitigate these challenges by showing employees a clear path to success and demonstrating that companies are willing to invest in their growth. When you prioritize your employees’ growth and development, you not only enhance their skills but also boost their job satisfaction and loyalty.

The Cost of Turnover

Employee turnover is expensive, especially in the oil and gas industry where the cost of recruiting, hiring, and training new employees is substantial due to the specialized skills and extensive training required to achieve competency.

There are also indirect costs, such as decreased morale and disrupted team dynamics, that cannot be measured monetarily. When experienced workers leave, they take valuable institutional knowledge and expertise with them. This can take years to rebuild, representing another significant but hard-to-quantify cost.

Understanding the Causes of Turnover

High turnover rates in O&G are driven by uncontrollable factors like fluctuating oil prices, job insecurity, and demanding work conditions in remote locations. Additionally, younger generations prioritize meaningful work, continuous learning, and a positive workplace culture, which may lead some to perceive the industry as lacking in these areas due to its inherent challenges.

While some turnover causes are beyond control, companies can address others, like career progression and training. A well-designed training program can reduce turnover by offering clear career paths and demonstrating a company’s commitment to its workforce, thus retaining talent and ensuring long-term stability.

The Role of Comprehensive Training Programs

Becht possesses the expertise to help your organization tailor specific solutions and implement customized, effective training programs. The benefits are substantial, contributing significantly to breaking the cycle of turnover and ensuring long-term success in this dynamic industry. To achieve these goals, Becht offers a range of services, including:

• Developing training programs tailored to the specific needs of employees, including technical skills, safety training, and leadership development
• Categorizing and sequencing training modules or sessions in a logical order to ensure trainees systematically build knowledge and skills
• Designing mentoring and coaching programs that pair new employees with experienced mentors for guidance and knowledge transfer
• Leveraging our proprietary BechtCONNECT Knowledge-on-Demand network to provide quick access to our global network of subject matter experts and premium reference document library
• Integrating technology to deliver training efficiently and effectively, including virtual training platforms and e-learning modules
• Assessing the effectiveness of training programs through feedback and performance metrics
• Improving and updating training content to keep it relevant and impactful
• Elevating team dynamics through team-building activities and leadership development.

Becht also offers ongoing professional development courses, available both publicly and privately. These courses cover a wide range of topics to help your workforce stay current.

Benefits of Working with Learning and Development Experts

Based on client feedback, our approach is highly effective and well received. Our clients consistently praise the solutions we offer, highlighting the significant impact on their organization:

• Enhanced job satisfaction
• Focused career development and progression
• Increased employee retention through investment
• Positive work culture
• Effective employees who are trained on current best practices

Partner with Becht to create a work environment where employees are so satisfied and engaged that they don’t want to leave. Let us help you turn your revolving door into an elevator to uplift your employees.