How Can Oil, Gas Firms Manage Talent Better?

There are other manners in which IT Services Industry and other such industries may address this as well such as:

• Sabbatical options
• Teaching at schools on behalf of the organization
• Volunteerism
• Community projects outside of volunteerism
• Other benefits
• Time off, vacations, leave, school programs or training

Stark: There are many industries that experience cycles. The produce industry, the hospitality industry and the auto industry all have up-and-down cycles. The better way is to maintain a core workforce that carries on the institutional knowledge through good and bad times. Supplement the workforce through outsourcing parts of the business as well as hiring contractors who can supplement the additional labor as needed.

Rigzone: A company that is on the rebound can certainly lure talent with money, but what are some other, less tangible steps that it can take to rebuild trust among displaced employees?

Stark: Every manager and supervisor in an organization has the responsibility to build trust through their daily interaction with employees. Behaviors like treating employees with respect, being honest, even when it costs you something to be honest, over-communicating with employees so there are no surprises and making decisions that demonstrate through the actions you take that you really care about your people will go a long way towards rebuilding trust in the organization.

Nelson: Well first and foremost let me state that trust is rebuilt based on consistency. Without this, you will not accomplish your goal of rebuilding trust.

Open, transparent communication, as part of the fabric of the organization, with a greater emphasis on the people skills of the leaders has to be at the core of any organizational effort. Realizing that trust has been broken and realizing the need to make the effort to rebuild that trust have to be woven into the organization communication on a daily basis in some manner.