This is from 2007-2008 period when Calgary’s job market was hot. Lots of young engineers were quitting Imperial Oil. Imperial was desperate to retain its people. Salary bumps across the board were in double digits (and not the lower double digits).
I remember attending Engineering VP Eddy Lui’s town hall meeting for the engineers and geoscientists. Eddy was explaining how Imperial Oil had a d-mbbell shaped demography curve - lots of people in their very early careers, lots of people at the end of there career, and almost no-one in the mid-career in the company. The reason for this demography was Imperial’s decision to lay off and not hire anyone in the early and mid 90s. Eddy said, “Never again Imperial will make such a mistake!”. In his words, Imperial will hire engineers at a steady pace irrespective of the company’s situation. Eddy and upper management were worried about the future of the company. When the seniors retire, they would leave a vacuum in the company.
Let’s come to the present now. Some of the folks who attended that session are at the top of the company now. I am telling you, you folks will have to repeat Eddy’s comment when no one will come to Imperial Oil when the market recovers. You will be saying, “Never again Imperial will make such a mistake!”.