Even as the price of oil remains relatively low, the energy and natural resources industry still finds itself facing a grave talent crisis. A wave of retirements, combined with skills shortages which are set to increase as globalization and competitive pressures take hold, has left many companies rushing to fill this skills gap.
In order to avoid mistakes of the past, energy and natural resources companies will need to take a strategic long-term approach to managing their talent.
The Human Resources function plays a critical role in putting the appropriate structure, capabilities and systems in place to deliver value to the business. As the driver of an organization’s people agenda, the HR function is in a key position to deliver sustainable competitive advantage by being equally -- if not more accountable -- for achieving profitable growth as other mission-critical functions such as Finance and IT.
Even as the price of oil remains relatively low, the energy and natural resources industry still finds itself facing a grave talent crisis.
A new KPMG International report reveals that now is the time for C-level and HR leaders to embrace evidence-based HR or risk losing ground.
KPMG in association with the Corporate Research Forum (CRF), produced a report on Strategic Workforce Planning showing UK businesses are not sufficiently prepared for future workforce challenges.
Talent will soon be in short supply in oil and gas, chemicals, and power and utilities companies.
In a recent global survey most respondents agreed there is a new war for talent, and this war is different than in the past.
Panelists discuss how to address the industry-wide shortage of skilled workers at the KPMG Global Energy Conference in Houston (May 2014).