Our employees are our most important asset. We value each member of our workforce and their contributions to our mission to become the operator of choice for all our stakeholders. We strive for a work experience focused on safety, career development, health and benefits, and strong relationships.
In 2023, we:
Contributed $750 to each employee’s Health Savings Account, with additional opportunities for company contributions upon the completion of specified wellness initiatives.
Launched our inaugural Disability Mentoring Day, a meaningful initiative that aims to foster mentorship and support for individuals with disabilities as they navigate their career paths.
Utilized our internal Skill Bank to expand career development ladders and provide transparency into the skills needed to advance into various roles.
Were named as a National Top Workplace by Energage and one of Pittsburgh’s Top Workplaces.
To establish ourselves as the operator of choice for all stakeholders, we aim to develop a strong, engaged workforce and foster a culture aligned with our mission. We rely on a broad range of skills to run our business, including technical skills to operate our well pads and administrative skills to run our business operations. We are steadfast in our commitment to hire, retain, and develop the best and brightest in our industry and aspire to support employees so that they can find purpose and meaning in their roles.
We cultivate a modern, innovative, diverse, collaborative, and digitally-enabled work environment where employees are incentivized to contribute at the highest levels. We attract and retain top industry talent through our recruitment process, which highlights our robust benefits package, learning and development opportunities, and technology-driven work environment.
We embed our organizational values — Trust, Teamwork, Heart, and Evolution — into our company culture. Transparency, integrity, collaboration, and a willingness to look for better ways to operate support our end-goal of producing timely, accurate data to help guide our decisions.
We aim to foster growth in our employees and listen to their concerns. We leverage our digital capabilities and programs to recruit talent and promote learning, development, and performance. We also use our digital work environment to engage directly with our employees by sharing company updates, highlighting personnel accomplishments, and soliciting employee feedback. With internal polls and surveys, employees can provide feedback to management on the technology we use, their work experience, and the overall company culture.
We measure the career development of our employees by tracking personal growth, contributions to value creation, and recognition of individual actions. As we continue to create a purpose driven workforce, we seek and respond to employee feedback to shape our policies and actions to be the best that we can be.
Attracting Talent
When we recruit talent and promote job opportunities, we communicate who we are as an organization — a company with a deep history that is a leader in innovation and committed to modernization. Our Human Resources (HR) team seeks to attract talent by showcasing who we are and what we do on our company website, Careers webpage, and social media, including LinkedIn and Glassdoor. We leverage numerous job boards, as well as LinkedIn, to distribute job opportunities and network with candidates. We also maintain a section on our Careers webpage to redirect job seekers to our service providers’ career pages, supporting EQT’s supply chain talent needs. Our policies comply with all federal and local regulations, including the Equal Employment Opportunity Commission and Americans with Disabilities Act, to promote fair and equitable recruitment practices. We also promote career mobility by maintaining Internal Applicant Guidelines.
Our transition to a predominately remote work environment beginning in March 2020 has enabled us to expand our search for diverse, highly qualified talent. Our remote work policy allows all office-based employees to work remotely, although we do maintain office locations throughout our operating areas and provide shared workspaces at these locations for any employees who desire to work in an office setting. Our remote work policy has allowed our HR team to expand talent searches beyond the geographical boundaries of our operational footprint and to hire skilled and diverse candidates, regardless of where they reside. Approximately 64% of our employees work remotely, with 86% residing in Pennsylvania or West Virginia; however, approximately 20% of our new hires in 2023 reside in states outside of our primary operating area of Pennsylvania, Ohio, and West Virginia — representing 21 U.S. states total and two international locations. See Employee Engagement and Employee Development for details on how we connect with our remote workforce.
While we continue to seek and hire qualified candidates from our local communities, we anticipate that our flexible work arrangement policies and remote work opportunities will continue to allow us to broaden our talent search. Additionally, our remote work policy has enabled us to retain employees who would have otherwise considered leaving our company due to personal or family relocation. We understand that life outside of work is a top priority, and we want to support our employees as they navigate important life transitions.
Employee Benefits
401-2
11.10.3
Benefits provided to full-time employees that are not provided to temporary or part-time employees
403-6
11.9.7
Promotion of worker health
401-2
403-6
We aim to provide employees with the resources and support they need to live a physically, mentally, and financially healthy life as this is critical to sustain our status as a workplace of choice. In addition to competitive compensation, we offer a comprehensive suite of employee benefits, including company-subsidized medical, dental, and vision insurance. Additionally, in 2023 we introduced a Roth 401(k) retirement savings plan option to provide employees with additional flexibility and tax advantages for their retirement savings. In connection with the launch of this new benefit, we collaborated with our independent 401(k) plan administrator to offer individual financial planning sessions, to empower our workforce with personalized guidance and strategies to help them achieve their financial goals.
We continue to offer comprehensive family benefits, including 2 weeks of paid paternity leave and 12 weeks of paid maternity leave for both birth and adoptive parents (with pro-rated leave for part-time employees), in addition to our in vitro fertilization and surrogate benefits. We aim to support family life, regardless of how our employees’ families grow.
We also offer flexible work arrangements, paid time off to volunteer, and a vacation donation program where employees can offer paid vacation days to a colleague dealing with a serious personal situation that requires them to take off extended time from work that would not be covered by current leave benefits. All our employees receive a minimum of 4 weeks of paid vacation.
Additionally, consistent with our corporate values — Trust, Teamwork, Heart, and Evolution — we maintain an “equity-for-all” program, under which each of our employees receives an annual long-term equity incentive grant in the form of EQT Corporation restricted stock units. The stock grants under this program are in addition to, and not in lieu of, the current compensation opportunities for our employees. We believe this program helps promote internal pay equity, recognizes the contributions of all our employees, and ensures alignment across the organization.
Life insurance (company-paid and employee-paid options)*
Accidental death and disability (company-paid and employee-paid options)*
Short-term disability (company-paid)*
Long-term disability (company-paid)*
Business travel accident (company-paid)*
Other life insurance — spouse, child (employee-paid)*
Relocation assistance
Company match on contributions to 401(k) retirement savings (up to 6% of eligible compensation)*
Company contribution to 401(k) retirement savings (3% of eligible compensation)*
Employee Stock Purchase Plan*
Equity for All employee stock grant program
Health Savings Account*
Credit Union*
Severance pay
Minimum four weeks paid time off
Education assistance program
Flexible work arrangements and optional 9/80 work schedule
Paid leave of absence
Extended unpaid leave of absence
Vacation Donation Program
Employee Assistance Program*
Extended family and medical leave (includes parental leave)
Adoption benefit
Infertility benefit
Commuter reimbursement accounts*
Wellness programs*
Foundation Donation Program
Matching gift program — 100% match up to $75,000 per year
Fully remote work and relocation opportunities
Employee Wellness
In 2023, we adopted a total wellbeing engagement platform, Vitality Wellness, to help make our employees’ health experiences simple and rewarding. Vitality Wellness is a comprehensive, interactive, and personalized wellness platform that helps employees make healthy choices. Employees are encouraged to create an account on the Vitality Wellness app and complete wellness activities to earn Vitality Points that can be redeemed for gift cards. Wellness activities offered on the Vitality Wellness app include personal health coaching, wellness information, health management programs, and employee educational sessions conducted by medical professionals. The program is designed to aid employees and their families in managing personal health and wellness issues.
We also contribute $750 annually to each employee’s Health Savings Account, with additional opportunities for company contributions upon the completion of specified wellness initiatives within the Vitality Wellness app. In 2023, employees were not required to complete any steps to receive the $750 company-provided Health Savings Account contribution, which made it easier for our employees to access this benefit.
We believe that support of our employees’ mental wellbeing is as important as supporting their physical health. Complementing Vitality Wellness is our Employee Assistance Program, which offers additional wellness and lifestyle services. Our Employee Assistance Program includes confidential short-term counseling and treatment programs and referrals to providers with expertise in family and relationship counseling, elder care, money management, and legal counseling. We pay in-full for up to five in-person counselor visits. Any employee, including part-time employees and those who waive our medical coverage, and anyone who lives in an employee’s household, can take advantage of the Employee Assistance Program and its additional resources.
We protect our employees’ privacy and ensure that individual results provided in the Vitality Wellness app and/or through our Employee Assistance Program remain confidential and third-party providers supply only aggregated information for analysis purposes.
Employee Engagement
Most of our employees worked remotely in 2023 but continued to remain connected through more than 400 virtual and in-person events such as culture booster events, holiday parties, and Town Hall meetings, where our employee base could engage in direct dialogue with management. We also hosted our annual Evolution Day event with our entire employee base to celebrate the evolution of our company and to serve as a reminder of our corporate mission and purpose. During Evolution Day, our employees participated in volunteer events in the communities where they live and work, with social events following the volunteer activities. We also hosted virtual volunteer opportunities for employees who could not join in person. Our Chief Executive Officer traveled to the volunteer events, picnics, and sites to meet with employees — including participation in a team baseball game.
To encourage transparency and a sense of community from the top down, our Chief Executive Officer hosts question and answer sessions with our entire employee base at least quarterly to discuss our company strategy, recent accomplishments, and upcoming events. These sessions also function to debrief earnings calls with employees. We actively explore ways we can use technology to help us build and sustain our winning culture. We are committed to keeping our employees engaged, retained, and enthusiastic about the work we do.
Employee Development
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11.7.3, 11.10.7
Programs for upgrading employee skills and transition assistance programs
404-2
During an employee’s tenure with EQT, we aim to provide the resources needed to enhance their skills and knowledge and to promote a culture where employees feel empowered to advance their education and career. Beginning with our new-hire orientation, employees learn about our culture, organization, benefits, performance expectations, and other available resources to help them succeed from their first day of employment. Orientation also reinforces our commitment to workplace safety, ethical conduct, and environmental stewardship. We offer our employee onboarding for non-field personnel 100% online through Salesforce Trailhead, which has received positive feedback from recent new hires. Following orientation, employees receive additional mandatory and task-specific training, as needed, to develop the skills necessary to perform their job tasks safely and effectively. Employees can also access LinkedIn Learning and participate in various seminars, workshops, and certification programs that are aimed at preparing employees to perform their job tasks at the highest level.
Employees routinely collaborate with their managers or supervisors to identify other appropriate training opportunities as they grow their careers. Employees have access to digital learning modules, which offer development opportunities that cover a wide range of topics, such as improving work-life balance, working on cross-functional teams, and habits for improving performance. During 2023, we continued to leverage our “Skill Bank.” Launched in 2022, our Skill Bank provides employees the opportunity to identify the skills required to do their job, claim proficiency in appropriate skills, and track their development alongside their managers. We utilize our Skill Bank to expand our career development ladders and provide transparency into the skills needed to advance into various roles within the company.
Some employees may seek to expand their formal education by leveraging our Tuition Reimbursement Program, which provides financial assistance to those who enroll in approved degree programs and satisfy established grade requirements. Our Tuition Reimbursement Program reimburses 100% of eligible education expenses up to $5,250, and 70% of all additional eligible education expenses, subject to certain course grade requirements. The program covers U.S. and internationally accredited undergraduate, graduate, and online programs, provided a business case can be made for why program completion will benefit both the employee and EQT.
We conduct quarterly performance reviews to promote a culture of ongoing feedback for all employees. In addition, employees participate in formal development plans with their direct managers to discuss aspirations and development gaps in experience and/or skillsets. These discussions are intended to foster success in the employee’s current role and identify additional responsibilities and opportunities. The review process also allows employees to rate the effectiveness of their performance review in their overall professional development and career growth. In 2023, the average review effectiveness rating was 2.95, on a scale of 1 to 3, with 3 as the most effective.
As our employees near the end of their careers, we also provide training and additional resources to aid them in their transition from active employment. Our independent 401(k) plan administrator offers online courses, one-on-one meetings, and telephone advice about financial planning and retirement options. We also help retiring employees navigate the digital health insurance marketplace as they seek to transition their health insurance providers.
Diversity and Inclusion
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11.11.5
Diversity of governance bodies and employees
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We passionately believe that diversity of backgrounds, education, and skillsets among our employees supports a successful workforce and improved performance. We strive to recruit the best available talent, including qualified candidates from historically marginalized groups such as people of color, veterans, disabled persons, and members of the LGBTQ+ community and candidates from all age groups and genders. We continue to work with organizational partners such as Diversity Pennsylvania and Women’s Energy Network Greater Pittsburgh and participate in career fairs and mentoring opportunities for persons with disabilities. These initiatives help us to intentionally grow our diverse workplace, equitably promote our job openings, and support a diverse applicant pool.
Our “Modern Intern” program offers both hybrid and virtual internship opportunities and aims to attract and build our diverse talent pipeline. Each year, we survey our department managers to understand which departments are best suited to host interns and identify top national, local, and diversity programs to attract a diverse pool of intern candidates. We continue to receive positive feedback from our internship cohorts. Approximately 11% of the interns who participated in our 2023 intern program were racially diverse and over half were women.
In addition to our internship program, 2023 marked the launch of three impactful initiatives:
We hosted our second annual Qrew Camp event, a 2-day immersive experience designed for rising eighth and ninth graders, providing valuable insights into the natural gas industry and career opportunities within the field.
We launched our inaugural Disability Mentoring Day, a meaningful initiative aimed at fostering mentorship and support for individuals with disabilities as they navigate their career paths.
We hosted an internship program in partnership with Nazareth Prep, a local school within our operating region where students come from traditionally underserved backgrounds.
We believe our modern intern program, coupled with these newly implemented learning programs, will enable us to continue to attract talent from diverse backgrounds and involve more students in the energy industry in the future. We hope to grow the pool of diverse candidates interested in our industry by continuing to provide learning programs and site visit opportunities. Our intent is for initiatives such as these to foster students’ interest in potential careers in our industry and at EQT to grow our diversity organically.
Our digital work environment enables us to connect individuals across EQT and promote inclusivity. Employees use our digital work environment to message one another, discover shared connections with colleagues, and post articles, comments, and photos. Employees have indicated that they feel more connected and included within their department and at EQT than they did prior to the implementation of our digital work environment.
Furthermore, we believe that our flattened organizational structure enables more employees to be recognized individually for the value they create. Employees routinely collaborate with leaders and personnel outside of their department and gain increased opportunities for learning and exposure and furthering their career development. We maintain a dedicated dashboard within our digital work environment to track internal promotions by racial diversity and gender to assess our performance in supporting career progression of historically marginalized individuals in the natural gas industry.
While headwinds exist in growing our diverse employee base, both in low-turnover limiting opportunities to attract more diverse candidates and operating in a region that does not have a significant workforce from underrepresented racial groups, we are focused on improving. We believe that our flexible work approach and remote work practices will support our efforts to improve our workforce diversity. In 2023, 18% of our new hires were women and 8% identified as part of a historically marginalized racial group.
For information on the diversity breakdown of our Board of Directors, see Corporate Governance.
EQT partners with Nazareth Prep to Offer High School Internship Program
In 2023, EQT partnered with Nazareth Prep, one of the largest private high schools in the Pittsburgh region serving primarily Black students, to develop and launch an internship program for juniors and seniors with an interest in the oil and gas industry.
Two Nazareth Prep students were awarded internship positions in 2023. The students visited EQT sites once per week and engaged with various EQT departments to learn the skills necessary to pursue a career at EQT after graduation. Departments included Owner Relations, Production, EHS, and others, where EQT team members offered hands-on job training, provided unique industry experiences, and helped students begin to build their professional network.
Equitable Pay
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11.11.6
Ratio of basic pay salary and remuneration
405-2
As transparency and accountability are cornerstones of garnering trust with our stakeholders, we disclose our gender pay ratios in accordance with Global Reporting Initiative (GRI) Standards.
Gender Pay Ratios (women:men)
2021
2022
2023
Executive Officers
0.741:1
0.741:1
0.833:1
Senior Management
0.906:1
0.938:1
0.821:1
Supervisors/Managers
0.947:1
0.949:1
0.942:1
Exempt Professionals
0.807:1
0.815:1
0.841:1
Non-Exempt Professionals
0.851:1
0.835:1
0.895:1
We aim to provide fair and equitable pay in line with market rates for our industry and operating region. Given our goal of maintaining a flat organization, our compensation structure is market-based with compensation tailored to competitive rates focused on job‑specific duties and scope of responsibility, as opposed to compensation based upon an employee’s title or level within the organization. Market rates based on job responsibility vary significantly, which is why regulatory agencies typically look at compensation related to responsibility as opposed to title. In a flat organization, similarly titled employees can have significant variation in market compensation. The pay gaps noted in the chart above can be attributed to the small numbers of women to men in each of the broad categories provided and differences in market rates among roles within each of such categories.
[1] All benefits listed are provided to employees regardless of where they reside based on full-time employment equivalency status. Benefits marked with an asterisk (*) are not available to part-time employees. For purposes of benefits eligibility, an employee is considered full-time if the employee is scheduled to work for at least 20 hours each week.
[2] Minority population includes American Indian/Alaska Native, Asian, Black/African American, Hispanic, or Latino, or any employee disclosing two or more races.
How We are Doing
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11.10.2
New employee hires and employee turnover
401-1
Our HR team reviews and evaluates our employment and diversity and inclusion programs on a regular basis. During these evaluations, we confirm compliance with applicable laws and regulations and assess whether our programs remain competitive with the external labor market and align with our values. When we review our programs, we consider the following:
Feedback from exit interviews
Annual employee engagement surveys
Internal feedback provided by our workforce through our digital work environment
Turnover rate
Internal assessments of diverse representation
Internal assessments of compensation and benefit plans
Benchmarking of peer companies in our industry
External employee ratings and reviews
EQT was named a National Top Workplace by Energage and one of Pittsburgh’s Top Workplaces in 2023.
We conduct quarterly performance reviews for each of our employees to provide timely feedback on career development and enable employees to express concerns or desired opportunities for growth. We believe our quarterly reviews and other review processes help employees hold proactive conversations with their supervisors, identify areas for growth and engagement, and obtain comprehensive feedback.
We also leverage succession planning to identify and mitigate human capital risks. Our management team reviews these evaluations and may adjust current programs or develop plans to address any areas of concerns that arise. With respect to our executive team, our Board of Directors, together with the Management Development and Compensation Committee of the Board, annually reviews our succession planning for each of our executive officers, including our Chief Executive Officer.
In 2023, we hired 170 new employees across our operations to meet the demands of our growing business.
For full-time employees, we offer two weeks of paid leave for fathers and 12 weeks of paid leave for mothers following the adoption or birth of a child (including through surrogacy). We offer similar benefits to part-time employees on a pro-rated basis.
[1] Minority population includes American Indian/Alaska Native, Asian, Black/African American, Hispanic, or Latino, or any employee disclosing two or more races.
[2] This metric refers to employees who took parental leave during 2022 and who returned to work and were still employed with EQT as of as of December 31, 2023.
What we Are doing
