Recruiting, Re-Skilling, Retaining, Rewarding Talent in the Hydrocarbon sector Petrotech 2016
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Overview
Era of easy oil on decline, mix of required skillsets changing
dramatically
Focus on low cost plays and increase emphasis on near
term opportunities
People and Organization remain critical challenge for the
Industry
Projected shortage at Global level even in the lower demand
scenario
Grow versus Buy model
Reducing Time to Autonomy
Inter and Intra company collaboration for long term solution
Exploring Talent for Exploring Oil
one vision . one vedanta .
Lessons Learned: Re-focusing Portfolios
Most companies are moving towards lower cost plays and increase emphasis on near-term opportunities.
Efficiencies driving Opexoptimization
Focus on cash preservation & driving Capex prudence
Source: Wood Mackenzie
Evolution of Company Strategies
one vision . one vedanta .
Talent Outlook: 2025
O&G workforce Occupation Group
Source: IEA International Energy Outlook
The Middle East countries rely on Expat workforce, while Asia battles to retain and attract home its experienced, indigenous workforce.
CIS and Latin & North American countries are projected to have a substantial shortage by 2025.
Europe, Australia are projected to have a potentially substantial surplus.
Women in O&G: Targeting the female market to tackle the skills shortage.
Talent Migration by Region
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Our Philosophy
Attracting leaders
• Are we hiring not only for our current needs but future needs from campuses & industry?
Developing leaders
• Are we providing the right development opportunities for our leaders
Rewarding leadership behaviours
• Are we differentiating rewards for potential and leadership behaviours
Accelerated leadership growth
• Are we growing leaders faster than others
Engaging leaders
• Are we engaging them so as to retain them?
Culture – Are we building the right culture for leaders to grow leaders?
Acquire talent early on
Nurture the talent
Accelerate their growth
one vision . one vedanta .
Talent Loss due to Retirement. Continue to Invest in Young Talent
Source: Energy vertical research , ILM Analysis on workforce drivers, 2015Cairn’s GT Program
Asia has significantly younger workforce. Europe, US/ Canada will need to attract younger workers as the current
workforce heads to retirement.
Learn and develop new skills and grow continuously by working with best-in class minds in the industry
Opportunity to gain hands on experience while working on challenging real-time assignments and projects.
Accomplish and get recognized for achievements that directly drive business results and create lasting impact
Chart out an exciting career journey in an continuous learning environment
One year Petrotech Graduate Trainee program to help groom Graduates hired from premier technical institutes into successful Oil and Gas professionals.
one vision . one vedanta .
Optimizing Time to Autonomy is Key to Success
Skill based learning interventions
Plan Career movements
Structured Job Rotations
Anchoring by Senior Leaders
Identify ways to reduce Time to Autonomy
one vision . one vedanta .
Professional Career Architecture at Cairn
Flexibility to choose your own career path aligned to organization needs & individual aspirations
1B
2C
3A
3C
3B
1A
2B
2A
Career
LevelManagerial
TrackProfessional
Track
Distinguished Advisor
Head
GM
DGM
Sr. Advisor
Advisor
Principal ‘Discipline’ Engineer
Lead ‘Discipline’ Engineer
Sr. ‘Discipline’ Engineer
‘Discipline’ Engineer
-
Director
Professional Track
- Roles on this track have:
• Significantly high focus on building technical excellence
• Work on solutions that make it a differentiator in the industry
• Can influence internal and external groups and are considered technical thought leaders
Managerial Track
- Roles on this track have:
• Significantly high focus on department/function leadership and financial responsibilities
• Significant people management responsibilities
• Substantial focus on stakeholder management
Technical Fellow
Responds to business needs
Responds to employee needs
• Helps enhance the organization’s technical capability essential to meet current and future needs
• Provides a balanced structure with clarity in expectations across career levels
• Equitable career
opportunities for technical and managerial talent
• Provides opportunities for development of specific technical skills based on business need
one vision . one vedanta .
Re-Skilling Existing Workforce by Job Rotations
• Aimed at building future capability of the organization
• A development platform for employees to acquire multi-dimensional knowledge & skills
• To expose employees to different experiences and variety of challenges
Employee
Organization
Our Objective
- Develop their own career path inline with their career aspirations
- Acquire multi-dimensional knowledge & skills for self-development
- Intrinsic motivation to perform caused by newer challenges
What’s in it for Employees
- Build current & future capabilities to meet the business needs
- Build rich talent pool with diverse skill set & experiences
- Have the right people in the right job
What’s in it for the Org
one vision . one vedanta .
Engage to Retain
Retention
Connect
Involve
Develop
Care
Sharing Updates and Business Priorities.Key messages around job rotations, growth opportunities, development
Involving employees in initiatives for optimization and enhancing org-effectiveness through innovation
Providing opportunities for career development
Creating a learning ecosystem, facilitate development of cross-functional capabilities
Demonstrating a feeling of careResponding to changing employee needs
- Employee Town-halls- Leadership Connect- Department Town-halls- V Connect
- Cross functional projects- Idea Dropbox: Promoting Innovation- Project Drive: Optimizing Cost
- Structured job rotations- Role enhancements- IJP: Promoting mobility- Learning Programs
- Wellness Programs- Employee friendly policies
one vision . one vedanta .
Rewards & Recognition
• Over 23% Organizations changed rewards structure to retain talent.
• LTIP to retain top performers• Bonus payouts linked to level of
performance, linked to KPIs.• Retention incentives for top talent.
Changes made by Employers to attract & retain talent
• Identify what's meaningful to your employees. • Keep employee recognition fresh. • Recognize all levels of employees. • Make sure recognition is given consistently.• Keep it simple, adaptable, timely.
Cairn Awards for Excellence
Project Awards
Monetary & Non-
Monetary Recognition
Source: Hays Oil & Gas Salary Survey 2016
Changes not revealed
one vision . one vedanta .
Looking Ahead: Talent Strategies
Develop a talent strategy road map
Apply workforce planning and analytics
Assess and implement a more effective organizational design
Develop talent through career and performance management
Define your employee value proposition through the development of an engaging
culture
Identify key talent and build succession. Build the pipeline through leadership
assessment and development interventions