One of the most important industries on the planet, the energies industry still faces many challenges, be they geopolitical, technological, or resource based. Many forget as well the human resource challenges faced by the energy but workforce planning is not to be forgotten when it comes to a 360º view of what obstacles lie ahead for the industry. To run smoothly firms can minimize their human capital risk by optimizing three areas of human resources to create a nimble and prepared agency.
Because of the rapid develop of new energy practices, geopolitical events, and globalization energy firms are finding that the market is changing faster than their market strategy and the skills of their employees. Essentially global strategies are being overtaken by world events and firms are struggling to keep up.
The key to maneuvering this shaky environment is to create teams that are agile and nimble. The problem that we see all too often in the energy fields is executives promoted to managerial positions who posses strong technical skills and expertise but do not always have the skills and experience to motivate and encourage their teams. In a market where one single strategy is no longer possible and firms must have several strategies and plans concurrently, firms must place priority on recruiting and especially developing well-rounded leadership to navigate the company and determine the best strategies to pursue.
There isn’t much argument to be made that creating well-rounded leadership creates positive outcomes for a company – the problem arises in the gap between technically skilled employees and training them to be the well-rounded leaders to company needs. Pipeline planning by grooming employees and managers for their next roles within the company hits a major roadblock because of talent retention and scoping out the best. “… failed to recruit or retain sufficient human capital to assure enough career employees will be available to meet requirements. … Nor have energy companies been able to attract a new generation of energy workers …”
Many companies are still trapped in the blunt approach of recruiting and keeping new talent – scouring a wide block of applicants found through traditional methods of job postings and online sourcing. This approach is often effective but companies miss identify value and value lost in the human resource department. This results not only in less efficient human capital results but is also expensive. Using a segmentation approach, companies can truly understand what unique characteristics and processes make each role essential to the company and what skills and talents the employee will contribute to the company outside this role. By approaching team development and change management holistically the human resources department can find new value and resources hidden within the firm.
This segmented approach is a vital part of our work here at EnergyPowerLab. We specialize in the energies industry and with each new recruitment mission we work closely with recruiters and candidates to identify these hidden value opportunities. In this way we can ensure a higher retention rate and an overall better match than simply using job boards or posts to find candidates and help companies capitalize on talents and skills that contribute to overall competitive advantage.