Oil Patch Bits: NSTI’s ‘No-Layoff’ approach survives 2016 recession
In the face of declining oil prices and a statewide economic recession, North Slope Telecom said it has a lot of be grateful for in the last year!
2016 was a tough time for Alaskans, losing about 6,800 jobs and thereby netting the first annual jobs loss for the state since 2009.
Then, in October of 2016, Alaska recorded the nation’s highest unemployment rate at 6.8 percent.
However, it is with great pride that NSTI announces that zero of the 6,800 lost jobs belonged to NSTI employees. In fact, NSTI ended up with more employees at the end of 2016 than the beginning.
“Everyone who worked for NSTI at the beginning of 2016 and wished to maintain that employment, still had their job at the beginning of 2017; and we are very proud of that!,” said David Smith, vice president.
NSTI can attribute some of that success to its focus on strategic diversification. By taking on new challenges, new clients and new types of work consistent with its core competencies, skills and values, NSTI has expanded its market to keep its company healthy and whole during the economic downturn in its primary market, Alaska oil and gas.
Another way NSTI was able to grow in 2016 was by taking something it was already very good at and expanding the size and scope of the work it offered. NSTI has been known for installing high quality fiber optic communication networks throughout the state for years; in 2016 it stepped into the “long‐haul fiber” market with a 125 mile fiber installation along the northern part of the Dalton Highway. NSTI was able to complete all project objectives for 2016 ahead of schedule.
NSTI is excited to form new connections and continue our contribution to a healthy economy in this great state!