Author: Cade Mueller
Attracting and retaining talent is critical to the energy industry. Even before the COVID-19 pandemic, the industry witnessed high rates of turnover, disengagement, and unproductivity with energy employees. In the 2019 U.S. Energy and Employment Report from NASEO and EFI, employee retention listed as a top priority for energy leaders. According to the report, 76.9% percent of employers across the energy sector reported difficulty hiring qualified workers over the last 12 months. In power and utilities, those numbers are likely higher; in a study from PwC, four out of five chief executives in the energy sector are planning to do more to strengthen employee engagement, and 63% say they will invest more in creating and fostering a skilled workforce over the next three years.
Now well into the COVID-19 pandemic, and this focus seems to be holding true across industries. According to Gallagher's Pulse Survey, 28% of companies listed talent retention as a top priority in response to COVID-19 challenges—surpassed only by employee health and safety and business continuity.
That begs the question: how exactly can energy leaders strengthen employee engagement and retention? Our answer: create listening channels.
The Impact of Listening Channels on Energy Employees
While COVID-19 has dramatically changed the work environment landscape in a short period of time, the need for employee listening channels are just as or more important than ever. After all, energy employees want to voice their opinions and concerns but may not always have the ability to be heard.