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Adopting Analytics to Effectively Manage Workforce Needs

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 workforce, oil and gas companies have not adopted the quantitative rigor that they use so effectively across their business.

At a time when technological innovation and globalization are ushering in a new era of industry growth, large segments of the workforce are reaching retirement age, and with potential recruits from educational institutions remaining scarce, the competition for talent can now be as significant as the focus to find new resources.

Leading human resources (HR) organizations in 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 are positioning themselves to effectively manage changes brought forth by this volatile operating environment.

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Adopting Analytics to Effectively Manage Workforce Needs

Ryan Isherwood, Director–Oil & Gas, Deloitte Consulting and Michelle Seale, Principal, Energy & Resources, Deloitte Consulting

01 August 2014

Volume: 66 | Issue: 8

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