Partnering With Educational Institutions & Investing In Research
One key concern of workers in the oil and gas industry is safety, due to the nature of work involved and the proximity to highly inflammable substances. Recognizing this concern, the oilfield services company of Baker Hughes has taken the initiative to partner with and invest in the University of Texas in Austin research to find practical solutions to such problems. They are hopeful that this partnership will help to provide better safety solutions for workers in the oil and gas industry.
Mikaila Adams reported in a recent article:
“Including the lab projects, Baker Hughes has invested close to $3 million with the university through various training, education, and research projects. Working closely with the university to help advance the training and teaching of the next generation of engineers, Baker Hughes is working to ensure teachings align with the challenges and needs of the industry.”
Such partnerships will also help to arouse the interest of students in pursuing a fruitful career in leading oil and gas companies across the globe.
Increase In Remuneration
Many oil and gas companies are forced to increase remuneration for vacant job positions in order to bridge the skills gap in this sector. The acute shortage of skilled talent in the oil and gas industry has prompted many companies to hike wages for people working in entry-level positions.
Elisabeth Torstad, CEO of DNV GL Oil & Gas said in a recent article,
“the sector is increasingly moving into challenging environments which require technical expertise to provide solutions, yet many companies are faced with an ongoing skills shortage. This need is driving up salaries at a time when there is already pressure to reduce costs. While technology can go some way to plugging the gap, it can’t fully replace human intervention.”
This article throws light on the steps adopted by oil and gas companies to deal with the skills shortage problem in the oil and gas industry.