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Workforce Cost Saving Strategies for Oil and Gas Companies

With the recent collapse in crude oil prices, much of the oil and gas sector finds itself under substantial pressure to reduce costs. Because most companies heavily rely upon contingent labor, with independent contractors comprising up to 50% of the workforce for many, there are tangible opportunities for cost reduction associated with the management of the contingent workforce. Even a small reduction in spend could translate into the millions or even tens of millions of dollars.

This White Paper identifies six different factors that oil and gas companies need to consider when approaching contingent labor cost reduction:

  • Centralization and Standardization
  • Transparency and Visibility
  • Talent Sourcing
  • Risk Mitigation
  • SOW-Based Projects
  • Workforce Management

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