Outlook for the oil and gas industry 2020

5: A new generation is re-shaping the oil and gas workforce

Skills shortages and an ageing workforce remain top-five barriers to growth for our survey respondents’ organizations. Some 45% of respondents say that the industry will face a critical skills shortage in 2020.

Shorter Tenure respondents are more likely to believe digitalization is critical to their organizations’ survival, compared with Longer Tenure respondents. Shorter Tenure respondents are also more likely to want their organizations to move faster to reduce their carbon footprint.

Our research suggests that progressive stances and tangible steps forward on both digitalization and decarbonization can potentially help attract and retain younger talent. At the same time, our survey shows that all the universally applicable boxes need to be ticked, from remuneration to long-term progression opportunities.