Our client made the commercial decision to transition all of their contractors on day rates, over to hourly rates.
The Client's Hiring Challenge:
Following growing trends of risk mitigation in the oil and gas industry, our client made the commercial decision to transition all of their contractors on day rates to hourly rates. They wanted to orchestrate this activity without impacting budget spend and without negatively impacting contractor retention levels.
To address the client’s concerns on budget spend, we conducted a rate analysis exercise to ensure that rates were competitive within the market, combatting attrition. We also worked with the client’s procurement team to calculate the new hourly rates based on the existing pay structure and work schedules. We also addressed the client’s concerns surrounding retention, we created a communication plan along with Procurement to make sure the contractors understood the timeline and how this might affect them.
Over 3-months, changes were rolled out by specific business units and locations.
Assignment Managers, Procurement and Bedrock partnered to ensure the changes were effectively communicated and rolled out, resulting in a quick and efficient transition with no business continuity delays and without any turnover.
We are now continuing to support our client as they onboard new contractors on hourly rates.