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To attract youth, oil and gas companies must adopt new technologies

13/03/2019
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To attract the next generation of science, technology, engineering and mathematics (STEM) talent, the oil and gas industry must adopt new technologies, as well as a number of new working formats, according to the Workforce of the Future survey released by ADNOC this week at CERAWeek.
ADNOC's Workforce of the Future survey was released at CERAWeek by IHS Markit, one of the world's leading energy events.
(ADNOC’s Workforce of the Future survey was released at CERAWeek by ISH Markit, one of the world’s leading energy events. Image via ADNOC).

The survey was commissioned by the Abu Dhabi National Oil Company (ADNOC) to examine future workforce and employment trends in the oil and gas industry. The headline results of the survey show that 44% of STEM Millennials and Generation Zs (Gen Z) are interested in pursuing a career in oil and gas, compared to 77% in the technology sector, 58% in life sciences and pharmaceuticals, and 57% in healthcare.

Interest in oil and gas is therefore on par with the marketing and advertising (48%), hospitality (47%), transport/logistics (46%), and retail (41%) industries.

The survey took a truly global view, interviewing STEM students and young professionals aged 15 to 35 in 10 countries – across North America, Europe, Asia, and the Middle East, representing a mix of significant global economies, and producers and consumers of oil and gas- and looked at their perceptions across multiple STEM-related industries, including oil and gas, and the skills they value and believe are required to succeed in these industries.

Other key findings of the survey include:

  • “Salary”, “work-life balance”, “job stability”, “on-the-job fulfilment”, and “a good working environment” are ranked the top five drivers behind potential career choices for STEM Millennials and Gen Zs.

  • Young STEM talent also associates the oil and gas industry with high salaries and see it as an industry that is invaluable. “The industry pays well”, “the industry is crucial for their country’s economy and development”, and it is “an industry we couldn’t live without”, are ranked as the top three positive attributes about the industry.

  • STEM Millennials and Gen Zs show the most interest in industries that they believe will be most impacted by new technologies. Globally, 42% say that new technologies will have a major impact on the oil and gas industry, while 56% say the same for healthcare, 53% for life sciences and pharmaceuticals, and 73% for the technology industry. Nearly 3 in 4 (72%) believe that new technologies will have an overall impact on the oil and gas industry, compared to 9 out of 10 for the technology sector.
  • ADNOC's Workforce of the Future survey examined how oil and gas companies could attract the very best young STEM talent.
    (Graphic via ADNOC).

    Commenting on the findings of the report, ADNOC’s CEO, Dr. Sultan Ahmed Al Jaber, said:

    “The findings from the ADNOC ‘Workforce of the Future’ survey show that the more STEM Millennials and Gen Zs associate oil and gas with new technologies, the more interested they will be in a career in the industry. The oil and gas industry should position itself at the cutting-edge of technology and showcase how breakthrough innovation is vital to every aspect of our business – across the upstream and downstream value chain”.

    “The world’s demand for energy and higher-value products continues to increase at an unprecedented rate. In order to meet that demand, our industry must stay ahead of the curve and ensure we continue to attract, retain and develop our young people. As we enter the 4th Industrial Age, we need to come together as an industry and- with our technology industry partners- better highlight the exciting opportunities our dynamic industry offers to young talent with strong technology skills,” he added.

    If you’re looking to hire the best technical and engineering talent in the Middle East speak to Fircroft today.

    Fircroft’s range of recruitment and workforce solutions will source, recruit and retain the talent that will make your business or project a success. Contact us today for a free consultation on your hiring requirements. 
    Tags: ICT, Oil & Gas
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