Kuwait Petroleum Corporation Focusing On Talent Retention



Kuwait Petroleum Corporation Focusing On Talent Retention
KPC's CEO says it will focus its efforts on talent retention.

Kuwait Petroleum Corporation (KPC) is focusing its efforts on talent retention, according to the company’s Chief Executive Officer, Nizar Al-Adsani.

“Our focus is the retention of talent, including a work environment that encourages [the] highest employee satisfaction, loyalty and engagement,” Al-Adsani told oil and gas delegates during a presentation at Offshore Technology Conference.

“Our employees are the most valued assets that we invest in,” he added.

The KPC CEO suggested that a shortage of skilled workers hinders the achievement of operational and strategic targets and stated that, since projects have become more complex, the focus of any successful strategy is centered on human competencies development.

As of Feb. 10, the total number of oil and gas layoffs around the globe was 441,371, according to data compiled by Houston-based consulting firm Graves & Co.

During the worst of the current downturn, which saw oil prices drop below $28 per barrel, companies such as BP plc, Royal Dutch Shell plc and Chevron Corp. announced mass layoffs.



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

BRUCE E BRADLEY  |  May 04, 2017
Retaining staff, talented or not, is much easier said than done. I am in complete agreement with the theory/philosophy. Ive also seen & experienced the reality of the practice, that being to protect the bottom line! Ups & downs in the global oil & gas industries is cyclical as well as cynical - when work abounds, jobs cant be filled fast enough, especially with qualified, technical staff. When work dries up, so do those jobs. Ive believed each company has to identify their key, core staff, as well as the next level outside of that, in order to save for a rainy day. Loyalty does indeed work both ways.