The oil industry is going through a lot of changes in Mexico. As technology continues to progress, more people than ever are joining this industry. There are a variety of companies trying to gain market share and improve sales.
Talos Energy is one of the leaders within the field. Over the years, the company has provided great products and service to customers. In addition, Talos Energy made investments in workplace changes several years ago. These investments resulted in lower turnover for the business.
One of the biggest operating changes that Talos Energy made was to pay employees more. The oil industry has a bad reputation for paying employees as little as possible. Several companies have to deal with high levels of turnover on their staff.
Instead of having to constantly hire new people, Talos Energy focused on paying current employees higher than the industry average. Although this increased expenses at first, the company is now saving money on lower turnover costs. Lower turnover saves money by lowering employee training and hiring costs.
Talos Energy also invested in new training for employees. With the new technology in the industry, it is vital that workers are using the best equipment available. Investing in new technology is not cheap, but it pays for itself over time.
Any worker with Talos Energy can get education in this field. Talos Energy is willing to pay for workers to go to school to get a degree or certificate to improve their career. This is a huge initiative from the company designed to make employees happier and more effective at work. Based on a recent study, Talos Energy has the lowest turnover in the oil industry. This is a result of all of the culture changes and investments made into employees years ago.