A new report by Arthur D. Little explores the reasons why, despite the buoyancy of record pricing, growth in the oil industry is being constrained by a worrying skills shortage across the sector. The report recognises acute resource shortages as a key factor. Specifically, shortages in oil supply, refining capacity, and the talent, experience and capacity of service companies are constraining both international and national oil companies (IOCs and NOCs) in their efforts to meet rapidly growing demand for energy and chemicals. This shortfall has occurred despite a 20 per cent increase in investment by IOCs and NOCs during 2004-2007, spurred on by high oil prices. Arthur D. Little's latest report, "Bridging the Talent Gap", examines and articulates how energy companies can close these gaps by addressing five key issues in resourcing:
- Building a human resource strategy to fit the new challenges - "business as usual" is no longer an option
- Reshaping metrics and processes to drive capability development - ensuring that people are not just "doing the job", but constantly learning and developing along the way
- Developing future leaders through innovative professional development - adopting best practice, not only from other companies in the energy sector, but the best-in-class across like industries
- Bridging the gap between classroom skills and application in the field - so that investment in training pays off more rapidly, and trainees gain motivation and confidence from earlier successes
- Creating a culture of learning and development across the business - a "learning for life" culture that permeates every level and every function.
- Sizing human resource needs correctly
- Developing national resources
- Improving managerial skills at supervisor level
Notes for EditorsAbout Arthur D. Little
Arthur D. Little (ADL), founded in 1886, is a leading global management consulting firm that links strategy, innovation and technology to master complex business challenges while delivering sustainable results to our clients. Arthur D. Little has a collaborative client engagement style, exceptional people, and a firm-wide commitment to quality and integrity. ADL is proud to serve many of the Fortune 100 companies globally in addition to many other leading firms and public sector organizations. Arthur D. Little has over 30 offices worldwide, employing over 1,000 people.
Further InformationStephen Rogers
Arthur D. Little
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