Who will take your job when you retire? Fill your shoes? Run your business? Work in the field? Is there anyone working at your office younger than 35? With an entire generation in the oil and gas industry retiring soon – have we done enough to prepare the industry to provide the country’s energy needs?
During downturns in the 1980s and 1990s, the oil and gas industry experienced a sizeable drought of new talent. Accordingly, the sector is now left with two dominant age demographics: Baby Boomers and Gen Y (also known as Millennials). As many Boomers face retirement, the industry is set to retain a workforce that, to date, is lacking necessary experience and skills. This gap is a threat to the industry and its competitive edge in an evolving, unpredictable marketplace.
To overcome this void, oil and gas companies must ramp up their efforts for strengthening the workforce housing through recruitment, retention and professional development programs. Additionally, they must begin to understand the values and goals of Gen Y. To help address this, Target Logistics just released a white paper titled “The Great Crew Change: Managing Generational Differences in Oil, Gas, Mining and Construction Workforces” by Elaine Cullen, MBA, PhD, CMSP.
In a world where going green and renewable energy are the next big things – seducing a generation that bounces from one fad to the next – isn’t easy. Gen Y accounts for approximately 36 percent of the U.S. workforce and by 2025, they will account for 75 percent of the global workplace. It’s important to understand how they think:
Oil and gas is a profoundly technology-focused industry and, as such, it should be touted as this resonates highly to this demographic. Companies can gain immensely by better engaging Gen Y, who are both iconoclastic and ambitious. We just need to find ways to pull them into our organizations in a manner that they find compelling and consistent with their values.
During downturns in the 1980s and 1990s, the oil and gas industry experienced a sizeable drought of new talent. Accordingly, the sector is now left with two dominant age demographics: Baby Boomers and Gen Y (also known as Millennials). As many Boomers face retirement, the industry is set to retain a workforce that, to date, is lacking necessary experience and skills. This gap is a threat to the industry and its competitive edge in an evolving, unpredictable marketplace.
To overcome this void, oil and gas companies must ramp up their efforts for strengthening the workforce housing through recruitment, retention and professional development programs. Additionally, they must begin to understand the values and goals of Gen Y. To help address this, Target Logistics just released a white paper titled “The Great Crew Change: Managing Generational Differences in Oil, Gas, Mining and Construction Workforces” by Elaine Cullen, MBA, PhD, CMSP.
In a world where going green and renewable energy are the next big things – seducing a generation that bounces from one fad to the next – isn’t easy. Gen Y accounts for approximately 36 percent of the U.S. workforce and by 2025, they will account for 75 percent of the global workplace. It’s important to understand how they think:
- 64 percent of them say it’s a priority for them to make the world a better place.
- 72 percent would like to be their own boss. But if they do have to work for a boss, 79 percent of them would want that boss to serve more as a coach or mentor.
- 88 percent prefer a collaborative work-culture rather than a competitive one.
- 74 percent want flexible work schedules.
- And 88 percent want “work-life integration,” which isn’t the same as work-life balance, since work and life now blend together inextricably.
Oil and gas is a profoundly technology-focused industry and, as such, it should be touted as this resonates highly to this demographic. Companies can gain immensely by better engaging Gen Y, who are both iconoclastic and ambitious. We just need to find ways to pull them into our organizations in a manner that they find compelling and consistent with their values.