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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
Collarini Energy Staffing Inc. December 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
Collarini Energy Staffing Inc. December 2006
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
Collarini Energy Staffing Inc. December 2006
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
Collarini Energy Staffing Inc. December 2006
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
Collarini Energy Staffing Inc. December 2006
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……
Collarini Energy Staffing Inc. December 2006
““Let’s survey our own employees!”Let’s survey our own employees!”
Collarini Energy Staffing Inc. December 2006
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
Collarini Energy Staffing Inc. December 2006
"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
Collarini Energy Staffing Inc. December 2006
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
Collarini Energy Staffing Inc. December 2006
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
Collarini Energy Staffing Inc. December 2006
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
Collarini Energy Staffing Inc. December 2006
• • 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
Collarini Energy Staffing Inc. December 2006
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
Collarini Energy Staffing Inc. December 2006
Engineers Engineers
Challenging work 1.90Challenging work 1.90
Team 2.00Team 2.00
Welcome new ideas 2.03Welcome new ideas 2.03
Supervisor 2.11Supervisor 2.11
Commute time 2.12Commute time 2.12
Corporate reputation 2.13Corporate reputation 2.13
Flexible work hours 2.17Flexible work hours 2.17
Welcome new ideas 1.48 Welcome new ideas 1.48
Supervisor 1.56Supervisor 1.56
Corporate reputation 1.67Corporate reputation 1.67
Team 1.68 Team 1.68
Challenging work 1.73Challenging work 1.73
Corporate leadership 1.74Corporate leadership 1.74
Commute time 1.74Commute time 1.74
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
Influence on decision making Influence on decision making 1.931.93
Other professionals (sales, financial, business, etc.) Other professionals (sales, financial, business, etc.)
Most important issues by positionMost important issues by position
Collarini Energy Staffing Inc. December 2006
Support personnelSupport personnel
Supervisor 1.87Supervisor 1.87
Corporate leadership Corporate leadership 1.921.92
Commute time 1.92Commute time 1.92
Welcome new ideas 1.97Welcome new ideas 1.97
Flexible work hours 2.0Flexible work hours 2.0
Corporate reputation 1.56Corporate reputation 1.56
Team 1.69Team 1.69
Supervisor 1.74Supervisor 1.74
Challenging work 1.77Challenging work 1.77
Corporate leadership 1.77Corporate leadership 1.77
Welcome new ideas 1.82Welcome new ideas 1.82
Corporate vision 1.87Corporate vision 1.87
Influence on decision making Influence on decision making 1.921.92
Landmen Landmen
Most important issues by positionMost important issues by position
Collarini Energy Staffing Inc. December 2006
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
Challenging work 2.14Challenging work 2.14
Child/elder assistance Child/elder assistance 2.142.14
Most important issues by positionMost important issues by position
Collarini Energy Staffing Inc. December 2006
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
Collarini Energy Staffing Inc. December 2006
0
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Importance
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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
Collarini Energy Staffing Inc. December 2006
0
50
100
150
200
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300
350
400
1 2 3 4 5
Importance
0
50
100
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1 2 3 4 5
Importance
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350
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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
Collarini Energy Staffing Inc. December 2006
Every individual has needs, desires, and
challenges unique to him or her…..
Every individual has needs, desires, and
challenges unique to him or her…..
Collarini Energy Staffing Inc. December 2006
““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
Collarini Energy Staffing Inc. December 2006
““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.”
Comments from respondentsComments from respondents
Collarini Energy Staffing Inc. December 2006
““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!”
Comments from respondentsComments from respondents
Collarini Energy Staffing Inc. December 2006
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
Collarini Energy Staffing Inc. December 2006
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!