A proper staff allocation strategy, and maintaining talent is vital for your company’s financial success. However, while your company needs highly skilled oil and gas functional experts to successfully complete critical back-office tasks, the actual tasks don’t always equal a full-time resource. Additionally, paying someone a full-time salary for part-time work drains company resources and impacts profitability. This scenario gave rise to Staff Augmentation business services, and it could be the model your company needs.
This article will help you better understand the benefits of this in-demand outsourcing offer, along with a few real-world examples.
Staff Augmentation services involve supplementing an existing workforce with highly qualified professionals to address specific skill gaps, meet increased demands, or complete projects within a specified timeframe.
Rather than hiring full-time employees, Staff Augmentation allows organizations to temporarily or continuously bring in supplemental talent without the long-term commitment and overhead costs associated with traditional hiring, training and retaining. This enables companies to quickly scale up or down their workforce based on fluctuating business needs and resource changes.
In a traditional workplace model, your company will hire full-time employees internally to perform the work foundational to the business. The thinking goes, “These are important jobs, and we want to have someone on staff at all times to ensure it gets done.” Although businesses have operated that way for centuries, new methods of operation have emerged to give organizations a competitive advantage.
Additionally, Staff Augmentation services give organizations access to a greater talent pool. You can work with those talented resources without the overhead and hassle of having to hire, manage, and retain them – that responsibility lies with the third-party employer.
For example, you might have a critical project / task that requires 80 hours of work per month. If you hire someone full-time for that role, you have to keep them busy for the other 80 hours each month. As a result, your company either overspends on that resource, or you have them do work outside their core job requirements just to keep them busy.
With Staff Augmentation, the outsourcing company places highly qualified professional(s) on your team to spend only the hours necessary to do a given job / task – removing the burden of paying for a full-time resource.
It can be challenging to find the right resource to perform certain jobs in the oil and gas industry; take Accounting, for example. The Accounting processes and procedures are technical and nuanced, varying by region, service, and product type. Locating resources within a tight time frame, budget, and with a wide breadth of knowledge can drain valuable time and energy needed for other high-value activities.
With Staff Augmentation services, the pressure is on the outsourcing company to locate and manage the people you need based on your unique business case.
For example, say your company acquires additional assets, going from managing 100 wells to 1000 wells.
With Staff Augmentation services, the outsourcing company can quickly staff the needed resources to help perform core daily tasks, while other full-time team members work on value-added activities, or however you wish to allocate the work. The outsourcing team can also serve as a trusted advisor, ensuring your company has the needed infrastructure and processes to handle the management of additional assets once the third-party resources depart.
This will help you mitigate staffing changes as your company expands or contracts, ensures your company remains well-managed during times of uncertainty, and sets you up for long-term success.
Your company might only require a few edits to your decks in a given month, but you also need a qualified resource who understands oil and gas functions, systems, and how to make the needed updates. With the old model, you pay someone full-time wages for that single task, which is far more expensive than the actual hours put into the work. With Staff Augmentation services, you only pay for resources when they perform tasks– and nothing more.
That scenario also translates across the complicated revenue scenarios in the oil and gas industry – with processes that also vary by region, basin, and land agreements, and more. Having access to Staff Augmentation services means being able to tap into a larger knowledge base – increasing the likelihood of more people having the collective experiences and knowledge needed for your company’s unique business needs.
The A.M.P’ed service offering, which stands for Augmentation Management Personnel (or Staff Augmentation Services), involves supplementing an existing workforce with highly qualified EAG professionals to address specific skill gaps, meet increased demands, or complete projects within a specified timeframe.
EAG can perform any back-office outsourcing activity, special projects including data cleanup activities, auditing, FERC reporting and more. Contact EAG today to learn more.