Short Term Trends
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According to petroleum companies who responded to an online
survey, growth in the industry and continued economic uncertainty
are shifting workforce challenges and shaping demands for Q3/Q4
2011. Some of the main growth and uncertainty factors influencing
the industry are:
- The current and expected future growth of Alberta's oil
sands
- The emergence of shale oil and gas developments in North
America
- Favourable economics to extract and transport liquids-rich
gas
- Proposed infrastructure investments to open up Canada's oil and
gas to international markets
- Economic uncertainty and commodity prices
- Increasing environmental and regulatory pressures
- Technological advancements
- The importance of public perceptions and engagement
Labour market imbalances have historically triggered workforce
challenges in the industry. During the Canadian economic recession
of late 2008 and 2009, the majority of survey respondents cited
cost cutting and employee engagement and productivity as the top
industry workforce issues. As the economy began to recover in
spring 2010, workforce challenges shifted to employee attraction
and retention challenges and labour and skills shortages.
The top workforce challenges reported for Q3/Q4 2011 are:
- Attraction and retention of workers in hard-to-recruit
locations
- Labour and skills shortages
- Managing employee turnover/retention
- Benefits and compensation expectations
- Productivity and employee engagement
Recruitment efforts reported are dedicated to supporting
organizational growth and replacing employees lost through
attrition. Additionally, organizations are increasing training to
develop current and future leaders, support the expected growth of
their organization, and to meet technical, safety and job-specific
requirements. Some companies are focused on productivity
enhancements, improving worker mobility and diversifying their
workforce. However, on an industry-wide basis, the use of such
strategies was relatively low.
Operating in the petroleum industry requires strategic decision
making that takes into consideration the future expansion of
certain sectors and how to manage growth effectively in an unstable
economic environment. The continued use of traditional methods such
as compensation and benefits being applied in silos will likely not
be sustainable in the long-term. Expected workforce growth will
also require different approaches to how organizations manage
employee mobility, organization of work and employee
development.
The Petroleum HR Council and Deloitte have partnered to
provide reliable information and strategies to address current and
short-term workforce issues and trends within the Canadian
petroleum industry. To maximize the value of the latest HR Trends
survey, the two organizations have combined their resources and
expertise to enhance the analysis, reporting and distribution of
survey findings to a wider stakeholder reach.
Click here to access the full HR Trends and Insights
report
For more details on the industry's labour market: