 Over the last few decades, the U.S. upstream oil and gas industry has shed an astounding 1.1 million jobs. Whether one believes these job losses are the result of normally occurring competition, attrition or restructuring, one theme permeates the current discussion around human capital: how to develop, deploy and connect employees through the industry’s boom and bust cycles? This issue has become particularly critical of late, given the sector’s aging workforce, combined with a diminishing pipeline of new and experienced talent. To guard against corporate brain drain, companies need to formulate effective strategies to attract and engage the industry’s newest resource: Generation Y.
The attached Deloitte Research report focuses on strategies for replenishing the whitecollar workforce within the upstream oil and gas sector. Specifically, it examines the values of Gen-Yers, and suggests corporate tactics to engage and sustain the interests of these young people.The report also presents targeted approaches for communicating corporate philosophies through branding, roles and rewards programs.
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