Strategies to Address the Energy Industry Talent Gap
Technology advances enable organizations to do more work with less; cutting-edge technology is attractive to recruits who will backfill as senior-level workers retire, KPMG noted. New technology being used in the field minimizes the risk of the retiring knowledge base, because it is actually younger employees who are generally most educated about the latest advances and innovations, noted one executives from an upstream organization in the survey.
“Embrace the role of technology in your recruiting, retention, training, knowledge-sharing and operational processes,” stated Zoe Thompson, principal partner at KMPG.
Competing for Talent
Losing employees to competitors is the number one attrition and recruiting risk identified by survey respondents, and is considered a bigger risk than losing talent to other industries, difficulty in recruiting talent, or the inability to keep up with increasing salaries and wages. The second-highest risk identified by respondents is the difficulty of hiring resources from competition.
“I’m a huge proponent that it’s about the leadership and culture of the company. In the last five years or so, we have focused on building leadership skills. People come to work with the hopes of working with someone they respect. That happens by having good communication skills and helping to build talent. People don’t leave companies, they leave managers,” stated Heim.
“The entire energy sector would be well served by collaborating on how to source and develop potential resources within a geography or skill set in order to grow the overall talent pool,” KPMG stated. “With common recruiting sources and hiring approaches, organizations can then focus their energy on differentiating themselves with their operational processes, not their recruiting strategies.”
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