What management skills are missing in the upstream business today? According to a recent paper by WBC Training, innovation, collaboration and the ability to plan for the long-term are the key leadership skills that the industry needs, but lacks. Most major oil companies emphasise their commitment to innovation and teamwork, but is this reflected in reality? WBC’s paper, based on their own research and industry reports from McKinsey, Hays, EY and others, suggests that companies that invest in serious career development planning for their staff will gain a competitive advantage over those that still see training and talent management as a cost rather than an investment.
As the industry slowly recovers, it’s likely that new ways of working, and a new style of management, will be called for. The industry needs to be able to attract and retain new talent: according to this paper, the signs are that as the number of projects picks up, there’s going to be a skills shortage – the result of the lay-offs frm the downturn, the Great Crew Change, and the lack of enthusiasm among younger professionals, who see more interesting careers in other sectors.