Talent Gaps, Shortages Affect Oil and Gas Industry Success

Talent Gaps, Shortages Affect Oil and Gas Industry Success

Mercer Insights

Mercer Think
Words. Pictures. Insights.
Mercer/Think blog transforms the latest Mercer research into powerful pictures that show you what's important, instantly.

Talent Gaps, Shortages Affect Oil and Gas Industry Success

Competition for talent in the oil and gas industry remains intense, and the talent gaps seen globally — especially for certain in-demand jobs and skill sets — have the potential to affect both the short- and long-term success of companies in the industry. Mercer’s global Oil & Gas Talent Outlook and Workforce Practices Survey, which collected data from 151 companies, identifies critical talent shortages and offers insights for addressing the industry’s talent challenges.

Mercer advocates a talent sourcing and development strategy that aims to build an adequate supply of required talent, enhance the skills and capabilities of the company’s existing workforce, engage staff, and foster commitment and loyalty. These programs must also address the need to manage cost and risk exposure.

“The tendency to simply ‘benchmark’ will not be enough,” said Jay Doherty, a Mercer partner and co-leader of the firm’s Workforce Sciences Institute. “Oil and gas HR leaders need to lead the way in conducting a deep examination of their own workforces, understanding labor trends in key markets, forecasting talent and skill needs, and, most important, building a customized plan of action that will address their very specific talent gaps and opportunities.”

Learn more about talent issues in the oil and gas industry. 

Learn more about Mercer’s services for the oil and gas industry