The Oil And Gas Industry Struggling With Inadequate Talent Management Strategies

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In a knee-jerk reaction, the oil and gas industry is laying off workers to counter the impact of low crude oil prices. In an attempt to maintain profit margins and shareholder value, oil and gas companies are overlooking their long-term talent management strategies. Oil and gas recruiters in Houston will suffer in the years ahead when they experience labour shortage problems.

Lack Of Long-Term Talent Management Strategies

In a recent survey conducted by Rigzone and KPMG, it was found that only 1/5^th of the total number of companies were able to identify talent from within their own firms to fill vacancies. This demonstrates a lack of preparedness and signals labour shortage problems in the days to come. Oil and gas companies should have long-term talent management strategies that will help them to stay ahead of the competition, when oil prices begin to pick up again.

Mark Williamson said in a recent article:

“In a survey of 2,500 oil and gas professionals, Rigzone and KPMG found only around one in five companies were able to fill vacancies from within their own ranks or had properly planned strategies for talent management.”

Need For People With A Wide Range Of Skill Sets

The United States is a global energy leader, which has witnessed unprecedented domestic gas production. The future of the oil and gas industry is bright with speculations of creation of thousands of new jobs. Filling these positions will require people with a wide range of skill sets and training. The oil and gas industry will encourage women and minorities to take up jobs in the industry to meet the demand.

Claira Lloyd said in a recent article:

“The report emphasises the fact that in the decades ahead the oil, natural gas and petrochemical industries will spur the creation of hundreds of thousands of new, well-paying jobs that require people with a wide range of skill sets, training and educational achievement levels. And to maintain this American energy moment, we need a workforce prepared for the thousands of well-paying career opportunities our industry will create with the right energy policies.”

This article highlights the need for the oil and gas industry to adopt a long term talent management strategy, instead of adopting a short-term view. The future of the energy industry is bright and will see the creation of thousands of new jobs. This is good news for people looking for well-paying jobs in the energy sector.