Strategy and Governance
About the Client
The companies, both public and private, along with their related subsidiaries, are in the business of drilling, exploration, and production of oil and gas wells.
The companies were competing with larger players in the industry who were attempting to recruit employees by giving unusual and excessive perquisites to the broad employee base. Longnecker & Associates (L&A) was asked to complete a perquisite analysis to determine market competitive perquisites not only in the energy industry, but what were other “out-of-the-box” perquisites that companies are using to compete for talent.
Benefit To Client
The L&A analysis included market best practices for what is normal course of business in the energy industry and what an employee and executive should expect as a perquisite. L&A included the average and median amounts of perquisites that executives and employees should expect to receive and the most prevalent market competitive perquisites on the market.
L&A’s analysis reflected that some companies are going above and beyond what we would expect a company to deliver in perquisites to their employees, however given the hyper-competitive energy market over the past couple of years and moving forward, companies are doing what they have to in order to keep talent and attract talent in the door for future growth.