Sonsub Agency Subcontractors to Lose Loyalty Bonus

This topic has 5 replies, 5 voices, and was last updated 16 years, 2 months ago by DJansen.

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October 10, 2008 at 7:36 pm #1863

Micbeth
Participant

Has any one else heard that agency subcontractors that work exclusively for Sonsub, except those in Nigeria, are to lose their loyalty bonus effective from 1 November?
If this is true there must a glut of ROV personnel out there in agency land. Is the beginning of the end of the labour shortage in sight or is Sonsub being short sighted?

October 11, 2008 at 1:00 am #19645

K2
Participant

I don’t see a glut of people in agency land. Quite the opposite and if Douglas Westwoods report is accurate then we will need hundreds of ROV guys from somewhere to man all the systems coming on-line.

😉

October 11, 2008 at 2:17 am #19646

sedco
Participant

I don’t think Subservpro have a glut of available experienced personnel on their books. I get emails from them on a daily basis about jobs they need experienced personnel for.

But you could be right. The oil industry, which ROV industry is closely linked to, is a notoriously boom and bust industry, and with the price of oil in freefall over the last couple of months it’s not inconceivable that a lot of oil & gas projects could be delayed or postponed over the next year or two.

October 11, 2008 at 6:42 am #19647

K2
Participant

I wouldn’t say ‘boom and bust’ , more like volatile which is understandable in todays current economic climate. I can’t see any oil or gas companies postponing or delaying their projects either. Reading company reports there are some 650 ROVs coming on-line, 2400 new wells to be installed, oil o/p predicted to rise to 35m bpd, gas o/p predicted to double, expenditure to reach $275bn by 2011 and almost every company involved in offshore activities anticipates expansion and increased turnover for the future. Then there’s the ultra deepwater companies to consider as focus swings from GoM, North Sea etc to deepwater GoM, Brazil and West Africa. I think we’re pretty safe. If anything there will be a huge shortage of manpower with the right skillsets so I’d expect to see an increase of inexperienced guys coming offshore over the next few years plus a number of early promotions of people with a lack of experience…..time to up those day rates me thinks!

😉

October 11, 2008 at 7:15 am #19648

Ewan McKen
Participant

A ‘Loyalty Bonus’ is just part of the Day Rate that a company were willing to pay anyway that they hold onto for a while to discourage personnel from taking a position somewhere else.

Perhaps Sonsub believe (Agency) ROV Pilots are not feeble minded enough to continue to fall for this tactic.

Regards,
I5

October 15, 2008 at 7:16 am #19649

DJansen
Participant

Loyalty bonus ….. 😯 🙄 😆 😆

What a pile of shi*e… It isn’t a bonus ! They are withholding your pay ( and eaning interest on it too) in an effort to keep you ‘loyal’

By definition Bonus implies something EXTRA…

From Websters dictionary;

Main Entry: bo·nus
Pronunciation: \ˈbō-nəs\
Function: noun
Etymology: Latin, literally, good — more at bounty
Date: 1773

: something in addition to what is expected or strictly due: as a: money or an equivalent given in addition to an employee’s usual compensation b: a premium (as of stock) given by a corporation to a purchaser of its securities, to a promoter, or to an employee c: a government payment to war veterans d: a sum in excess of salary given an athlete for signing with a team

So if you work all year and the company has made a decent profit and they give you 10K ON TOP of your pay.. That is a bonus..

IF however they pay you below the going rate all year then at the end of the year pay you the balance to bring you up to the average industry pay that is ‘withholding payment’

Basically it’s financial blackmail… Fu*k ’em ! Work for companies that pay you a fair rate for every day you work… Get the money in your bank account earning interest all year not theirs…
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