Talent Management in Indian Upstream Oil & Gas Sector
Talent management in Indian upstream oil & gas sector
July 2010 www.deloitte.com/in
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Contents
Talent management in Indian upstream oil & gas sector Abstract The Indian Upstream Industry Key challenges in Indian upstream industry The Solution The Develop – Deploy – Connect Model Developing periodic table of talent Workplaces of tomorrow State of the art retention strategies People-to-people knowledge transfer Examples of how used during lifecycle People-to-content knowledge transfer Target Sell Deliver Learn Explicit Knowledge Tacit Knowledge Knowledge Intensive Enterprise framework Conclusion About the Author
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Talent management in Indian upstream oil & gas sector | 3
Talent management in Indian upstream oil & gas sector
Abstract Over the last few decades, average age of workforce in Indian upstream oil and gas industry has increased to fifty years. Whether one believes it is the result of normally occurring competition, attrition, aging or restructuring, one theme permeates the current discussion around human capital: how to develop, deploy, and connect employees through the industry’s boom and bust cycles? This issue has become particularly critical of late, given the sector’s aging workforce, combined with a diminishing pipeline of new and experienced talent. To guard against corporate brain drain, companies need to formulate effective strategies to attract and engage the industry’s newest resource: Younger Generation (below 30 years of age). However hiring younger generation is not all. It is also about managing existing talent and developing the periodic table of talent. The Indian Upstream Industry The initiative was taken by the government by introducing New Exploration Licensing Policy through which it started the auctioning of hydrocarbon blocks for the Public as well as private oil and gas companies
July 2010 www.deloitte.com/in
2
Contents
Talent management in Indian upstream oil & gas sector Abstract The Indian Upstream Industry Key challenges in Indian upstream industry The Solution The Develop – Deploy – Connect Model Developing periodic table of talent Workplaces of tomorrow State of the art retention strategies People-to-people knowledge transfer Examples of how used during lifecycle People-to-content knowledge transfer Target Sell Deliver Learn Explicit Knowledge Tacit Knowledge Knowledge Intensive Enterprise framework Conclusion About the Author
4 4 4 4 6 6 7 8 8 10 10 10 10 10 10 10 10 10 10 11 11
Talent management in Indian upstream oil & gas sector | 3
Talent management in Indian upstream oil & gas sector
Abstract Over the last few decades, average age of workforce in Indian upstream oil and gas industry has increased to fifty years. Whether one believes it is the result of normally occurring competition, attrition, aging or restructuring, one theme permeates the current discussion around human capital: how to develop, deploy, and connect employees through the industry’s boom and bust cycles? This issue has become particularly critical of late, given the sector’s aging workforce, combined with a diminishing pipeline of new and experienced talent. To guard against corporate brain drain, companies need to formulate effective strategies to attract and engage the industry’s newest resource: Younger Generation (below 30 years of age). However hiring younger generation is not all. It is also about managing existing talent and developing the periodic table of talent. The Indian Upstream Industry The initiative was taken by the government by introducing New Exploration Licensing Policy through which it started the auctioning of hydrocarbon blocks for the Public as well as private oil and gas companies