Along with the pandemic causing havoc in the oil and gas sector, the industry was also hit by a significant crash in the oil prices. All of this is due to the US oil process falling by 34% in a couple of weeks. During the pandemic, many people in the oil and gas sector could not work at all. Unemployment was at its peak, impacting the global economy, specifically the oil and gas workforce.
How has the oil and gas industry changed post-pandemic?
Post pandemic, there has been a shocking drop in the demand for oil and gas, leading to a lowering in the sector’s financial and structural health. After the crisis, researchers suggest that without a drastic change, it will be difficult to maintain the attraction of the industry. The current scenario is all about intense competition, increasing public and government pressure regarding climate and environmental change, etc. The best way to deal with the scenario is to hire the best of the talent, to overcome the challenges that the industry is facing.
Reshaping the workforce
The oil and gas sector companies are still trying to sustain operations and manage their workforce.
Also, working in the oil and gas industry requires a different set of skills and characteristics; making it more difficult to find such a workforce that is unique to this sector. To tackle such a situation, oil and gas companies understood the need to upskill their existing workforce and hire new employees when a large portion of the workforce is approaching retirement. All of this is now combined with the need to work remotely, adjust shifts and timings, and the increased health risk for older employees; urging the companies to act sooner.
As the industry is different and niche, the skill shortage will always remain a long-term problem, requiring near-term action. Advancements in technology have led to reshaping the workforce differently, with the use of advanced technologies to acquire the right candidate. Let us learn how.
Prioritize employees’ health and safety
In an attempt to change the hiring strategies of oil and Gas majors in the Middle East; one of the major aspects that recruiters need to prioritize is the health and safety of the employees. Companies are investing to protect employees’ health to preserve cash, by cutting or deferring discretionary capital and operating expenditures. Also, employees feel more connected to the company when their health becomes a priority, resulting in more fresh, relevant hires.
The oil and gas industry might not show a flourishing and growing career for many. It looks like a calcified market with little growth. Existing strong players in the industry need to offer space to the young recruits to pursue their passion and move beyond boundaries. Doing so creates a path of personal growth for the employees and makes them feel connected to the future of the company as well. Google’s ITO (Innovation time out) policy is one such application that allows employees to spend 80 percent of their official time on core projects and 20 percent on innovative projects that speak to their interests. Hiring with an intent to let people grow in your company’s environment is the need of the hour, and you should allow this with open hearts in your organization.
In an attempt to modify the recruitment process to hire modern talent, companies must use modern, new-age technologies in their HR operations. For example, solutions like XOPA’s AI Recruiter help companies save significant time by eliminating tedious manual tasks that are a part of the hiring process. HR and hiring teams can then focus on the task that matters the most; i.e interviewing the candidate. Such solutions help companies streamline their hiring processes with aspects such as:
- Interview workflow automation
- Automated interview scheduler
- Automated candidate emails
- Automated candidate references
- Candidate offer via the integration with DocuSign
Embrace diversity and inclusion
Changing the Hiring strategies of the oil and gas majors requires some major shifts from the existing ways of hiring. Companies need to adopt inclusive hiring policies to reduce hiring biases during recruitment. Using technology solutions like X0PA, companies can hide personal information on resumes, do the shortlisting based on skills, and take a scientific approach to hiring by leveraging Big Data. This helps them hire objectively and foster diversity and inclusion in the organization.
Focus on candidate experience
It is time for companies to enhance employer branding and candidate engagement by focusing on candidate engagement. Making the candidate feel welcome is an essential aspect of hiring for industries like Oil and gas. They need to make sure that they maintain a seamless candidate experience with minimal effort and human intervention. With solutions like XOPA, companies can nurture and engage with their talent pool – easily.
The oil and gas industry has gone through a dramatic transformation in the last couple of years. What has worked in the past may not work in the future. Therefore, oil and gas companies need to use modern technologies such as AI, RPA, predictive analysis, machine learning, etc. to identify the best fit, find matching roles, and give the job seekers a seamless experience.