Implications for Advanced Skill Development: A Strategic Petroleum Reserve

Exploring Motivational Factors for Skill Development in the Oil and Gas Industry

Abstract

Oil and gas companies have lost many of their employees to their competitors. A shortage of labor skills has emerged in the oil and gas industry. As a consequence of this shortage retaining top performance employees is becoming a major concern for many oil and gas companies. Retention cannot be achieved without motivation. This study of what motivates employees in the oil and gas industry. A premium Indian based Oil Company as a case study is investigated. Results show the implications for advanced skill development. This study concludes that although money is important in a competitive market environment; however non-monetary factors also play a major role in motivating oil and gas employees than monetary factors.