The human Resource department is an integral part of every industry in the oil and gas sector
. Presently, the HR in Oil and Gas is facing a number of complexities and has started developing newer strategies to overcome the labor problems that would result in smooth running of the industry. The major problem faced by the Oil and Gas producers today is employee shortage. The existing talent pool in the Oil & Gas sector chiefly comprises of skilled engineers who are about to retire soon. As per the research studies, with the passing of the decade, the very industry will experience around 38 percent of shortage of talented engineers & 28 percent of shortage of the electrical and instrumentation workers. As a result the Oil & Gas HR is under enormous pressure to replace its existing workforce with suitable candidates in the upcoming years.
Now, definitely, training the young professionals for duly replacing the seasoned workforce of the industry who have at least 25 long years of professional experience is really tough for the HR department. The problem has been aggravated by the huge amount of job scopes as unleashed by the IT sector. Today is youth is far more attracted to IT & Outsourcing jobs than to jobs in any other field. Thus, the present HR executives of the oil & gas sector have come up with fresh HR strategies to solve the problem.
One of the most important strategy as implemented by the HR professionals in the Oil & Gas industry is utmost professional recruitment which would be based on systematized assessment tests & executive searches to ensure that that the company is able to pick up most compatible candidates only who would be ideally relevant for the job. The HR departments have also come up with tailored reward and compensation policies to meet up with the reasonable expectations and demands of the workforce working for the company for better employee retention.
Moreover, the HR department in the oil and gas industry is also concentrating on effective training of the workforce for proper employee development, especially through the process of e-learning, keeping in terms with the digital savvy youths of today.