We view our strong culture as being the single most important factor in our long-term success.
We work very hard to build a team of highly motivated, empowered people who work together to deliver superior results and make Vermilion a great place to work. We believe our strong corporate culture is of paramount importance to our success.
Our culture influences everything we do and how we do it, which is why we focus on:
When we recruit, we look for employees with strong technical skills and creative vision who want to work in a highly collaborative and dynamic work environment. Our onboarding process is designed to make our new team members feel immediately welcome and to integrate them quickly into our culture.
Throughout the economic downturn that our industry has been facing since the latter half of 2014, our objective has been to avoid layoffs to the fullest extent possible and remain focused on:
In 2015, including both employees and contractors, we had a total of 28 staff moves globally (compared to 53 in 2014) through such activities as lateral moves and promotions. We also had 46 new hires (166 in 2014), including 23 permanent or expatriate positions to help us achieve our business plans. G4-LA1a
While our employee count has remained relatively flat since 2014, we have increased production and reserves per employee:
|2014||2015||2016||'16 vs. '14|
|2P Reserves BOE/Employee||317,000||380,000||406,000||+37%|
In 2015, we established a Central and Eastern European (CEE) Business Unit, and opened a new office in Budapest, Hungary. Consistent with how we have determined other office locations, we chose the CEE office space based on its proximity to transportation links and attractiveness, which helps us reduce our carbon footprint while attracting top talent.
By nurturing and protecting our culture, we believe we attract and retain the best of the best. Our successful efforts are best reflected by our consistently low voluntary turnover rate, which has remained markedly below the industry average year after year. In 2015, our voluntary turnover rate was 2.3% (vs. 3.5% in 2014) compared to an industry average of 5.5%. (Source: 2014 MTCS Results) G4-LA1b
VET total turnover rate was 7.9% (vs. 5.6% in 2014). Industry total turnover was 11.8% (Source: 2014 MTCS Survey)