Talent Edge 2020: Redrafting Talent Strategies for the Uneven Recovery
Perspectives from the oil and gas sector
In January 2012, the Talent Edge 2020: Redrafting talent strategies for the uneven recovery survey report of 376 executives outlined key talent-related challenges across industries. Succession planning, leadership development, and improving top- and bottom-line performance were among the respondents’ central concerns.
Our report, “Talent Edge 2020: Redrafting talent strategies for the uneven recovery - Perspectives from the oil & gas sector” details what the January 2012 issue of Talent Edge 2020 survey’s oil and gas respondents had to say about their sector’s talent trends. Some key findings:
- Global talent management is front of mind. Surveyed oil and gas executives ranked finding the right people globally as their top talent priority, citing managing human capital (38%) and expanding into global and new markets (38%) as their companies’ most important strategic concerns.
- The sector is running short of critical talent. Surveyed oil and gas executives anticipate a looming talent shortage in all skill categories, including operations (81%), information technology (61%), risk and regulatory (62%), and research and development (60%).
- Surveyed oil and gas executives worry more about retention than leaders in other sectors, even though they see their retention programs as equally strong. 28% of the oil and gas respondents were very confident in the effectiveness of their retention strategies and programs, similar to the proportion in other sectors. Yet 38% of oil and gas respondents expressed a very high level of concern about retaining critical talent over the next year, versus just 25% in the other sectors.
- Surveyed oil and gas executives put a high priority on finding scarce skills and managing global talent. Talent concerns that attract “the most management attention” in the oil and gas sector include recruiting hard-to-find skill sets (38% versus 28% in other sectors), competing for talent globally and in emerging markets (30% versus 22%), and deploying critical talent around the world (28% versus 15%).
- Global talent mobility will likely continue to rise in importance. 32% of surveyed oil and gas executives believed that, in three years, deploying critical talent around the world will be even more of a top concern than it is today.
Download the report to learn more.