In these times of uncertainty, as in several industries, the Oil & Gas sector has experienced changes in product demand, which has led companies like Nakasawa Resources to innovate and update their offerings to clients in an accelerated manner. It is necessary to emphasize that changes in this sector bring with them a high level of complexity, which leads to the need for even more specialized human capital, skills and techniques.

As we continue to experience these changes in the marketplace it is necessary to have a mindset of adaptation that allows us to execute work more efficiently while ensuring that staff have the necessary preparation and skills that will help the company. The state of constant innovation leads to an increased demand for candidates with specialized training in unconventional areas that would add value to the company and help transform it. However, it should not be overlooked that the demand for human capital with particular specializations presents a great challenge. Therefore, it is necessary to evaluate our team and identify how the company can improve ongoing processes and identify growth opportunities for capable candidates.

With the limited growth in demand for oil it is necessary for all companies to optimize their resources and work hard to be prepared for the growth that the future will bring. To be prepared, one must first identify the challenges that exist in human capital and define how they will be addressed.

In a report published by Deloitte, the number one professional services firm in the world, and which has worked with 97% of the Fortune 500 companies in the Oil and Gas sector, it exposes the challenges that the sector has in relation to human capital which I have categorized as follows

PROGRAMS

  • Low effectiveness in performance measurement programs
  • Training and development programs not aligned with business needs
  • Conceptual leadership programs not focused on “on-site learning

PROFESSIONAL GROWTH / DEVELOPMENT

  • Poor visibility of the career path for employees
  • Compensation and Incentives

COMMUNICATION AND OPTIMIZATION

  • Absence of replacement grids
  • Misalignment between talent and strategy execution
  • Low efficiency and productivity of talent and disintegrated talent management processes
  • Assignment of roles and profiles that do not correspond to the positions in the organization
  • Communication of the project to users and vice versa in an untimely, partial and/or reactive way
  • High direct and indirect labor costs due to non-optimized structures
  • Duplicity of functions

In business there are several challenges, but it is crucial that the challenges that exist in human capital are not overlooked, as they are the most important element of any company. It is necessary to be alert and identify immediate solutions that allow us to address the greatest challenges in human capital in this sector.

by info@nakasawaresources.com