The HR Crunch
The shortage of skilled employees has greatly affected the oil, gas and petrochemical industry, with huge numbers of experienced workers nearing retirement and companies competing to secure the best new talent. Based on a survey done by Ernst & Young, up to 90 percent of senior human resources executives from 22 major international oil, gas and petrochemical companies feel their industry faces a huge shortage of fresh talent; with up to 50 percent of their workforce having more than 20 years of experience and with many approaching their final decade of work.
It has become more crucial than ever to look beyond Gen X and to focus on designing leadership strategies to recruit and retain Gen Y employees. It is not an easy task to increase competitive advantage to become an employer of choice. Current market conditions are not the same as they were when the big players took prominence. Thoughtful discussions on how to achieve the status of employer of choice to attract and retain talent will be shared and discussed in detail in the upcoming 2nd Annual Human Capital Innovation in Oil, Gas and Petrochemicals Forum in Kuala Lumpur on the 9th & 10th of October 2013. Delegates of this event will gain insights from the best in the industry; while engaging in thought provoking sessions on the overall perspective towards building a leading Human Resources model.
Algeria's Amenas gas plant hostage crisis early this year reiterated the fact that the remote locations involved invite higher risks. Formulating an attractive compensation and reward management framework to motivate high employee morale has been an uphill task for HR managers. Learning how to operate in harmony with the constantly changing mix of culture and locations in the industry teamed with a culture that values staff contribution are among the highlights of this conference.
The persisting lack of emphasis on training & development activities, as well as coaching & mentoring for employee development is staggering. According to a recent survey by the Society of Petroleum Engineers (SPE), 53 percent of employees said they lack training and development opportunities and that this would lead them to consider leaving an employer. APQC reported that the best way to retain valuable knowledge in the face of attrition or downsizing is to build and sustain a systemic knowledge management approach. In today’s knowledge driven economy, it is essential to be a learning organization, where new skills, capabilities and knowledge are seamlessly acquired and deployed. Such an organisation is more nimble and market focused, thus enjoys a strategic business advantage. Creating a learning organization is both a CEO and HR imperative.
Following the success of last year's inaugural event, Fleming Gulf will be hosting this highly prestigious event, which serves as a platform to exchange unique ideas on the latest trends, practices and most successful HR strategies. Join the movers and shakers from Alstom, Essar, Gazprom, MOL, Reliance, Technip, Total and many more to harness this opportunity to meet other delegates and to understand how they are adapting progressive indigenous employment and workforce strategies. Attendees will benefit from unparalleled interactive sessions and an informative experience at this event that also serves as a platform to share and network with industry peers.
Further information about this conference can be obtained from the conference website or by contacting Yazrul Basir at firstname.lastname@example.org. Seats are limited, register and book a place now to avoid disappointment.
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