They also remember how expendable they were after the crash and realize there is no value in loyalty to employers that rely on them to make billions and write them off as expenses rather than integral parts of the company and valued resources.
My observation is different after +40 years in o&g.
An industry that survives on the price of the commodity they produce for which they have no control over will always be cyclic.
Expenses must be curtailed in order for the company to survive during the 'downcycles' such as the past couple of years. There is no other choice for the company in general.
A few companies are so big and have enough stockpiles of cash like an Exxon that survival is less of an issue as they can withstand most downtimes. Others are private and position themselves quite well like a Hilcorp to 'take it on the chin' during downturns and even reward its employees so they retain them.
http://www.bizjournals.com/houston/morning_call/2015/11/houston-energy-company-gives-out-100-000-bonuses.htmlSome recognize that their best employees are critical once the ramping-up takes place. My nephew works as an instrumentation technician for a drilling company whose business shrank 90%. Instead of laying off, they kept a string on him by giving him half time for the past couple of years. He is now back fulltime and working overtime even in the Permian.
One other thing: I was laid off after 27 years with one company. In retrospect, although traumatic, it was the best thing to have ever happened to me from a career standpoint. It made me really concentrate on what my strengths were and my interests. When a couple of years later I rolled out back to fulltime after some consultancy work, I had that focus and had the most enjoyable and financially profitable time of my career.
Guess what I am saying is recognize the industry by preparing for badtimes ahead, and make the most usage of those times to profit oneself.
