Why Millennials Matter To The Oil And Gas Industry

• Tweet

• Tweet

Millennials are the generation born in between the period from 1980 to 2000. In the years to come, companies in the oil and gas industry should be proactive in reaching out to the millennials as they are projected to comprise 50% of the workforce by 2020.

Reducing the community impact in their oil and gas operations is just one of the many ways that the oil and gas industry can attract workers. Fixing methane leakage and increasing the re-use of raw materials like water and steel are other methods of attracting talent to the oil and gas industry. This holds true for offshore geotechnical engineering jobs, environment jobs and other roles in the oil and gas industry.

Read this article to understand why millennials matter to the oil and gas industry.

The Oil And Gas Industry Needs Workers To Secure Its Future

The oil and gas industry faces a dilemma as an experienced workforce is giving way to millennials, who lack the experience required to lead big corporations and take on big challenges. This took place due to the downturn in the 1980’s which dissuaded many candidates from joining the oil and gas industry, creating a huge age gap in the workforce. Commonly referred to as the ‘Great Crew Change,’ it is likely to leave an impact on the oil and gas operations.

In this scenario, the oil and gas industry should take steps to attract millennials, by understanding what matters to them and appeal to their sensibilities.

Amy Myers Jaffe said in a recent article:

“More simply and directly put, to attract the workers it will need for its future, the industry needs a public profile that is radically different than the one it is currently putting forth.
Some leading companies are already moving in this direction, by shifting to operational procedures that reduce community impact by shortening project cycle times, minimizing product losses, such as methane leakage, and increasing recycling and reuse of inputs such as water, heat, and steel.”

Millennials Are Projected To Comprise 50% Of The Worforce by 2020

Another compelling reason for the oil and gas industry to sit up and take notice of millennials is the fact that they are projected to comprise 50% of the workforce by 2020.

Mayor said in a recent article:

“Millennials are now the largest population cohort in the U.S. and are projected to comprise 50% of the workforce by 2020… Bringing people and technology together creates opportunities to grow economically and reduce risks… For the upstream and oilfield services sector, this could translate into improved efficiency and lower costs—something of which the industry can never have too much.” Mayor said in her presentation.

Millennials value peer recognition than recognition from supervisors. They are also multi-taskers and tech-savvy, making them invaluable to corporations, as they can come up with new and improved technological solutions to problems faced in the oil and gas industry. Millennials are reported to be more connected, as they rely on social media to interact with people. Understanding what makes millennials different from baby boomers will go a long way in aligning with their needs.

The oil and gas industry should welcome millennials into its workforce by encouraging them to improve their processes and become more efficient in the long-run. They are set to dominate and change the processes, revolutionizing them for future generations.