Week 3 Assignment
This essay will address the impact of employee turnover and retirement on the gas and oil industry in Canada. It will look at the human resource challenges and what can be done to head off a severe worker storage coming up in the next ten years.
Canada is facing a major labor shortage that could affect the gas and oil industry over the next 10 years. The industry employment in 2012 is estimated over 195,000 that is up 10% from 2009. The direct employment over the next decade will increase between nine and 20%, that will make employment levels reach 213,000 or as high as 233,000 by 2022. (Sampang, 2013)I in order to meet this workforce growth the industry will need to find between 125,000 and 150,000 new workers by 2012. This is because while the industry is growing it is losing workers to retirements and turnover. The hiring outlook estimates approximately 45,000 workers will be lost to age-related attrition, with a workforce of approximately 200,000, 3% annual turnover results in an additional 6000 new hires a year. (Sampang, 2013)
Within Canada's oil and gas industry there are a wide range of issues, for example, the environment, public perception, raising capital, but one of the common issues is talent and is it is the most urgent. In the coming years the oil and gas companies will be looking to expand their workforce during a time when the number of working people aged 15 to 64 is predicted to sharply decline. Rapid technological change is demanding new kinds of workers, those with far more sophisticated and up-to-date training and skills that have ever been required by oil and gas professionals in previous generations. (J. Mckibbon, 2011) Oil and gas HR leaders continue to struggle with ongoing human resource realities that have always been unique to the gas and oil...
References: J. Mckibbon, L. M. (2011). Human Resources in Canada 's oil and gas sector A snap shot of challenges and directions. Ernst & Young.
Sampang, R. (2013). Workforce Challenges Persist Within the Oil and Gas Industry . (Calgary AB): Enform.
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