The shortage of skilled workers across the industry is clearly a key issue having a detrimental impact on both industry profitability and the potential for future growth.

The impending talent shortage and potential resulting loss of institutional knowledge, has created an urgent need for companies in the upstream oil and gas industry to evaluate and update their approach to recruiting, developing, deploying and connecting their people.

To replenish the workforce pipeline, such organisations must work to understand the values of the incoming generation, and then carefully rethink their strategies for attracting and engaging these young entrants. Furthermore, they must communicate their organisational philosophies through effective branding, role development and rewards programs.

A guide to assessing the talent shortage issue

1. Are you familiar with the concept of corporate identity and brand? What are the solutions you are currently working on, or have already implemented, to evaluate, improve and market corporate identity and branding?
2. Do you think the performance review process that you are currently using is effective? Do you offer formal mechanisms for employees to create and modify their career paths beyond yearly performance reviews?
3. Do you offer formal mentoring programs? Are you familiar with the term ‘reversed mentoring’? If yes, would your company be a good place to implement a reverse mentoring program?
4. What are the opportunities your company offers to employees to network across divisions and hierarchy?
5. Do you offer employees choice in their benefits, rewards programs and work structures? If not, why? If you are, how is it done?
6. Do you leverage technology in recruiting and organisational communication? Based on your knowledge, what do you think is the most successful way to recruit new talent?

Who do you have to help you with human capital issues?