The oil and gas industry is expanding rapidly. Recent Oliver Wyman research shows the industry will face a major challenge during the next decade of attracting and retaining enough skilled employees to do the work. This struggle will significantly impact the industry’s ability to compete in the global market and companies will feel immense pressure to retain their experienced employees. Several factors contribute to this challenge, including:
•Aging workforce
•Fewer experienced candidates
•Industry globalization
•Difficulty attracting entry-level talent
This article describes key levers for talent management, as well as a strategic approach to attract, develop, and retain employees with the knowledge and skills required for success.
