EXHIBITION & CONFERENCE

SINGAPORE EXPO | SINGAPORE | 5-8 SEPTEMBER 2023

Do you know why your workers are leaving?

Do you know why your workers are leaving?

By Sarah Louise Howell, Vice President, of Gastech

 

Talent will have a critical role to play in the energy transition One of the major economic stories of the pandemic has been its impact on the labour market and the Great Resignation Throughout diverse industries, companies are finding it harder than ever to retain talent.

The energy sector is no different. A study by the Global Energy Talent Index (GETI), which surveyed over 10,000 energy industry professionals, found more than 75% of workers were considering a career change within three years.

Amid an industry-wide transformation, driven at record speed by the pressures of pandemic response, geopolitical conflicts and the race to net zero, the need to attract and retain talent is of critical importance to energy companies.

Technological innovations are defining the industry’s efforts to

drive its transformation. The modernisation of gas infrastructure is necessitating new skilled workers, from electrical engineers with an understanding of power and emerging technologies, to technologists knowledgeable in software-based programming. Increasingly, energy recruiters must wrestle with other industries for the same specialised talent.

On top of that, despite significant efforts in recent years, the industry continues to struggle in terms of inclusion, diversity and an open culture. Women currently make up just 22% of the workforce in oil and gas companies. Many continue to cite a toxic work environment as the decisive driver in leaving their current job and the industry’s reputation puts off young talent from choosing a career in energy.

The global transition into renewables remains another key facet for talent retention and attraction. Of the energy professionals surveyed in the GETI index, around 61% of respondents saw their employer’s actions on ESG as a driving factor in their decision to join or remain with a business.

Companies in the gas sector are increasingly looking for opportunities make their businesses more  sustainable. Actions being take include integrating lower-carbon solutions such as Carbon Capture technologies into their operations, diversifying portfolios to expand into hydrogen and exploring nature-based energies. Moves like this will play a decisive role in capturing a new pipeline of energy-strong talent. But for now, work needs to be done.

So, what can companies do to address these business challenges? In the global scramble for talent, what skills development programmes, mentoring schemes and adaptations to workplace culture can companies put in place? How, quite simply, will the industry respond to the challenge of retaining employees and attracting future leaders of the energy transition?

Gastech will be a critical opportunity for the industry to gather and shape long-term solutions to these questions. Leaders across the energy value chain will drive the conversation on building a tech-savvy, diverse and inclusive workforce as they look to adapt to a changing energy landscape.