These are the “three C’s of Petroleum Human Capital Management that really bring into focus the importance of how running your Human Capital Management effectively can change the game in the petroleum industry:
1. Compliance:
First, create and maintain a culture of safety for employees. The culture should extend beyond day to day service, but through documentation, training, and mandatory compliance with federal, state, and local laws and regulations. Heavily regulated industries like petroleum and food mart operations, transport and delivery, sales, service and safety require organizational communication. Certainly, employees must be knowledgeable and adhere to these established rules and regulations for employee, customer, and environmental well-being.
Moreover, properly trained employees should understand the legal ramifications of licensing and compliance requirements involving the sale and distribution of alcoholic beverages, tobacco & vaping products, gaming, and any other licensed products or service. Employees, with management’s training and approval, must document all required information needed for business operations. This exhibits to employees that they are an asset “whose current value can be measured” and “future value can be enhanced through investment”. Documenting and storing HR, training, licensing, and various federal, state, and local compliance documents have been labor-intensive practices in the past. Compliance is now possible by insuring best business practices.
2. Communication:
Secondly, establish communication from the beginning by hiring with clear job descriptions, regularly updated to reflect responsibilities. Externally, promote communication through reviews with regular feedback and follow-up. Within your organization, demonstrate communication with systematic accountability of employees work hours (full, part, and overtime); and a clear understanding of compensation and when and how bonuses are determined and paid. Consequently, failure to properly communicate can result in a loss of employees, customers, earnings, or worse. Communicating individually via text and/or email regardless of your employee’s job or location is a must; Comtracts Communication tool makes this possible.
3. Control:
Finally, see employees “as assets whose current value is measurable and future value can be enhanced through investment. Improve performance in areas of cost, quality, service, and speed.” For example, in the petroleum business, your best asset and security should be your employees. In addition, taking the time to train, encourage, and reward employees will encourage and ensure trust, dedication, and loyalty. Having immediate insight into the investment of your employees is invaluable.
References: What is Human Capital Management: Definition and Value (Study .com); Oil & Gas Journal, RM for the Oil and Gas industry; Management Consulting Association, The Anderson School at UCLA
These are the most important aspects of success that all boils down to the “Three C’s” of Petroleum Human Capital Management.
