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Engineering & Energy TALENT OUTLOOK SURVEY 2014
Introduction • The oil & gas industry is con3nuing to advance at an excitnig pace, new technological
developments are opening up significant opportuni3es to meet the constantly growing demand for worldwide energy.
• As hydrocarbon-‐based energy demand con3nues to grow, extrac3ng oil & gas from unconven3onal sources becomes more important. The key to success in the technologically driven, fast-‐paced world of energy is the company’s supply of available experienced, highly-‐skilled talent.
• Sourcing, cul3va3ng, and retaining these people is the one of the biggest challenges facing the oil & gas industry today.
“The increasing demand for workers is exacerbated by an underfed recruiting pipeline and the retirement of older, more experienced workers “
• Many companies try to find solu3on in poaching exis3ng talent from compe3tors but this approach is impossible to sustain. It is also significat to remember that the Oil & Gas Industry is also in compe3ton for this talent with other industries.
“Addressing this lack of talent will require an industry-wide solution that starts with companies understanding the internal and external labor market issues. “
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Understanding the Oil & Gas Talent Market
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Notes about the Survey: • The study covers industry employers of more than one million employees • Na3onal oil companies represent approximately 6% of the sample included in the analysis • Most respondents serve in HR Roles
DISTRIBUTION OF SURVEY RESPONSES
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
31%
6%
14% 18%
25%
6%
Business Segment
Upstream
Midstream
Downstream
Integrated
Oil Services
Others
Region of Responsibility
Asia Pacific 78
Canada and US 76
La3n America 32
Europe 31
Sub-‐Saharan Africa 16
Middle East and North Africa 14
EXECUTIVE SUMMARY
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
• Oil & Gas companies are facing a talent shortage across all cri3cal occupa3onal groups.
• Though the intensity of concern has seemed to ease of the last six years, the experience gap is more profound. This gap is driven by a combina3on of emerging complex technologies, an aging workforce, and unconven3onal plays requiring new staffing models.
• Companies are reliant on “buying” talent, rather than “building” talent.
• All in, companies are spending a vast amount across a large spectrum of workforce ini3a3ves. At face value, this points to a need for companies to assess, quanify, and priori3ze their risks to develop a unique por_olio of ac3ons that will produce the greatest returns and expected outcomes.
• Most respondents project that their company will realize significant returns if they can solve their talent challenges. This may come in the form of increased produc3vty, decreased aari3on, increased produc3on, and decreased opera3ng costs.
Percentage of Companies Anticipating a Talent Gap in the Specified Occupational Group and Experience Level* in the next 5 years Industry perception of pending talent gaps across occupational groups
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Hot Jobs: Positions Facing the Most Critical Talent Gaps
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
INDUSTRY TRENDS AND CHALLENGES
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
TOP CHALLENGES AFFECTING OIL & GAS COMPANIES TODAY The Industry Reports: • The Market Lacks an adequate supply of skilled
candidates. • Qualified employees are increasingly difficult to attract and
retain. • Demand for experienced talent continues to rise.
Regions in which participating Companies are currently facing their BIGGEST Talent Management Challenge Percentage of responses indicating region with biggest talent change
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Challenges in Attracting and Managing Talent
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Attracting and Managing Talent
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Challenges being addressed by Current or Planned Initiatives 1
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Skills Gap in Existing Workforce Percentage of respondents facing gap in skill set indentified
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Expected Shortages in Qualified Employees Percentage of respondents indicating shortage in region, 5 – year time horizon
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
WORKFORCE STRATEGIES & PRACTICES
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Strategies for filling Open, experienced Positions Percentage of open positions filled internally and externally across respondent companies
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Current and Planned sourcing strategies Percentage of current outside hires from source, anticipated change and reliance 1
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Attraction and Selection Strategies Percentage of companies in segment selecting strategy
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Strategies used to Assess Talent and Increase the Supply of Skilled Workers
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Addressing Talent Shortages Strategies Organizastions Will employ to address Regional Talent Shortages
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Sources of Non-Local Hires (Industry Average) Percentage of respondents selecting region
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Levers with Greatest Impact on Talent Management Challenges Allocation of incrememental $100 in budget to Talent management issues
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Expected ROI if Talent Challenges are Properly Addressed
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
Workforce Planning Process Percentage of Companies using a Process
Sources: Mercer Oil&Gas Talent Outlook and Workforce prac9ces Survey, February 2014
UNDERSTANDING THE LABOR MARKETS
OIL & GAS TALENT FORECAST EXPANDING ON THE SURVEY RESULTS
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