Top 3 challenges facing #oil #HR managers

The global oil and gas industry is currently facing a serious skills and human resources deficit due to the plethora of new projects being developed around the world. NOCs, IOCs, energy companies and independents are all facing severe shortages of experienced and skilled personnel as they expand their operations and enter new markets. As the world’s appetite for energy grows, these needs are only going to increase and solutions need to be found quickly.

The industry is facing a “big crew change” : this means that the advancing age of the oil and gas industry’s workforce has led to an employee and skills shortage as Baby Boomers have begun retiring. There is therefore an urgent need for new recruits, better training and retention, and new suppliers who can provide human resources solutions to the global oil and gas industry. If more is not done to develop the next generation of oil and gas professionals, the industry faces wage inflation, lower productivity, project delays and cancellations and higher operational costs.

Knowledge management and retention : As experienced technical staff retire and leave businesses there is a major challenge in knowledge management and retention – the risk with the “big crew change” is that knowledge and skills get lost when the workers leave the industry and there is no effective transfer. The industry needs to develop specific strategies aimed at keeping knowledge in-house.

Local content challenges : Developing local capacity and capability is becoming increasingly important for oil and gas companies working in new regions and countries – they need to build up and train the local workforce to ensure the profitability of projects.

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To find out more about this and more please see the Oil and Gas Human Capital conference at: www.terrapinn.com/humancapital