Working with oil and gas sector and our ability to rely upon the knowledge base of our parent, helps us to support many clients in India, Middle East and also cater to clients where MB Group has its presence.
This helps us to have a point of view and observations towards this sector:
- The oil and gas sector requires diverse range of skill and competencies and the average age of employees in this sector is around 49 and 50
- The Talent requirement of the industry has been in line with the growth of oil price or decline in the oil price.
- Major portion of employees have considerable experience and expected to retire in next 10 years.
- The Institutes that are available to generate fresh talent for this industry seems to be far less when compared to other sectors. This percentage level varies from one geography to another, however broadly in the range of 4-10%.
- Demand for people with 10 years and above is significant in the international job market and their availability at the right time seems to be a challenge, more over the attrition at this level is higher as many of these talents are lost due to many international opportunities.
- The sector requires very specialized talent for example: Geo physicists, Drilling personnel, specialists in each of the oil field services just to name a few, and they are scarcely available, developing this talent internally takes time and it is an investment and by the time you expect return you may lose such resources and attracting such specialized talent takes time and come with a bigger cost.
- Increased localization & reduction of expats is setting its own requirement for talent development and management.
- Increased employee cost due to change in minimum wages, making employer to re-look at their workforce optimization strategies.
- Increased employee engagement, and organization need to invest in keeping motivational level of employeeson higher side, especially for those who work in oil fields, staying away from their family.
We have a unique combination Human Capital Solution focus and also very good expertise in best in class HR framework like People CMM. Our professionals are able to talk to a client from the breadth and also from the depth of practices. This puts us in a unique position and help and recommends our clients in holistic manner.
Our professionals have collective Human Capital Advisory experience of over 15 years, with focus to cross industry segments IT, ITES, Real Estate, Infrastructure, Manufacturing, Oil and Gas, Power sectors, Aviation, Pharma to name a few.