Oil and gas companies have increasingly relied on complex data to delve into the Earth’s geology and find energy resources thousands of feet below the surface. They have turned to numbers when analyzing prospective acquisitions, capital expenditures and other investments. Yet, when it comes to managing their workforces, oil and gas companies have not yet adopted the quantitative rigor that they use so effectively across their businesses.
At a time when technological innovation and globalization are ushering in a new era of industry growth, the competition for talent can now be as significant as the focus to find new resources.
Leading human resources (HR) organizations within the oil and gas industry are starting to effectively use data analytics to help identify, recruit, retain and develop skilled talent. By blending internally available data with external statistics and information related to the labor supply, these HR leaders within the industry are positioning themselves to effectively manage changes brought forth by this volatile operating environment.
At Touchpoints, we assist energy and utilities companies in several ways: