This year, ten characters changed our world, perhaps forever: SARS-CoV-2 (“COVID-19” or “COVID”).
The energy industry, most notably the oil sector, was among the first industries to experience COVID’s ferocity and will likely be among the last industries to recover. The Energists, a Houston-based retained executive search firm, and Strategic Value Partners, a Dallas-based management consulting firm, came together this summer to survey energy companies and capture COVID’s impact on revenue, employment, compensation and benefits, and existing and future human capital plans.
In this whitepaper, we explore COVID-driven uncertainties about the pace of the revenue (and profit) recovery, layoffs, and compensation and benefit reductions.