Like any other industry, a skilled workforce is essential for the oil and gas sector to thrive. However, there are many challenges currently being faced by the industry in the field of human resources. Let’s have look:
1. Technological up-skilling of resources
Upskilling and reskilling of the workforce is the need of the hour in the age of rapid IT innovation. With the technology advancing at a break-neck speed, companies need to bring in a sense of empowerment by acquainting the workforce with the latest technologies, investing in training & reskilling of the workforce.
2. Digital transformation
With the emergence of various technologies such as artificial intelligence, augmented reality, IIoT, etc. there is an increase in the digitization of the industry. During this phase of digital transformation, it is important for companies to help their workforce to cope up with change by deploying strategies like interactive training sessions, seminars, team discussions, etc. and creating ecosystems that ensure the perfect balance between the two.
3. Shrinking Talent Pool
A major challenge faced by the Oil & Gas sector is severe competition for top talents due to an aging workforce and shrinking talent pool. Also, attracting the best talents requires considerable investment. Companies can navigate these problems by working with a recruitment specialist that can help them build a talent pool of suitable candidates based on their requirement.
4. Recruiting and retaining talents
Being primarily a field-based industry requires a combination of mental skills and physical resilience which is quite different from a regular desk job. Hence, recruiting and retaining suitable talents is a tedious job. Thus, the companies need a sustainable approach towards managing the work-life balance of the employees and keeping them happy in order to curb attrition.
5. Nurturing new leadership
In the age of digital disruption, the industry needs visionary leaders who will help shape the oil and gas industry of tomorrow. Hence, it’s necessary to nurture new leadership by identifying talents & mentoring them.
6. Maintaining diversity in the workforce & ensuring gender equality
The cohesiveness of the team in a multicultural diverse workforce is of utmost importance to ensure the smooth functioning of an organization.
7. Maintaining team morale
Factors like remoteness of site locations & harsh working conditions affect the motivation level of team members to some extent. Team building exercises, interactive sessions and discussion forums need to be organized on a regular basis to maintain the camaraderie and boost morale.
8. The rapid expansion of green technologies
With the rapid expansion of green technologies like biofuel and electrical energy sources, there is a decrease in dependency on the Oil & Gas industry. However, liquid fuels are still difficult to replace and it will take a considerable amount of time for them to be phased out completely.
Although the oil & gas sector is facing many challenges, there is no denying the fact that it continues to be one of the most dynamic and important industries in the world and it will be exciting to see what the future holds for this industry.
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