Industry chosen Oil and Gas

Question: Identify one major challenge or opportunity in the labor pool facing leaders in an industry today? Answer: Introduction: The oil and gas industry is one of the booming industries as of today and it is gradually developing its trend globally. Along with it is facing some major challenges since its inception. For e.g.: Finding motivated and skilled pool talent to sustain growth in the economy. Rapid technological advancements are demanding new kinds of workers for this type of industry. HR leaders associated with this industry need to up to date themselves with relentless ongoing HR realities and be open to such changes. Understanding the Talent gap: In order to understand the talent gap we must understand as why the gap is been created in the minds of the employees. Organizations are compensating for changes to this problem by engaging with the education field which can attract students to work in the industry and analyze their effectiveness necessary for work. Some effective programs must be initiated in the industry like global rotation programs for new workers in the industry by the organization. This could be highly beneficial to prepare themselves for future leadership roles. Younger employees can also be benefitted by learning different opportunities and also develop a broad base of skills across globally. Using Talent Management Technology and its application: To maintain the talent pool globally, companies must build an integrated system that helps them accurately assess the skills of future employees for the talent management team and bind these needs with the organisation. A dynamic and open-system environment must prevail in the organization for hiring, recruiting and thus binding talent across borders. Using a technology based talent management solution will be helpful for developing strategies to retain qualified employees ensuring proper career planning and development. This also helps to widen the career paths and ensure effective succession planning (pageuppeople, 2015). Attracting and leveraging current talent: Attracting reliable skilled talent is a part of a good recruitment process. Companies must lay emphasis on the quality of the employees coming in and how they are been mentored initially by senior professionals. Companies are also developing formal training programs as a part of their On the Job training Process to develop critical roles and enhance them. Companies are trying to leverage talent for maximum impact such as using advanced computing technology with performance monitoring software. Recommendations to such challenges in the oil industry: To withstand such challenges companies can source talent outside the industry beyond their current talent pool to meet the growing demand. Companies can recruit senior professionals on a part time basis who can work for the resource projects. Companies should make efforts to recruit internationally to fill up the employment gaps (Marakon.com, 2015). It is also recommended to use mobile technology for streamlining recruitment process giving recruiters and hiring managers carry out pre-employment activities, approve job requisitions, initiate recruitment requests screen candidates, conduct telephonic and online video interviews and. Companies must think innovative ways to fill employment gaps globally with better managers and employees. Conclusion: Lastly we can conclude that Talent Management, its acquisition and retention is very much essential for any company and in order to maintain such a status any company must ensure effective recruitment process and introduce training and development follow ups. References: Marakon.com,. (2015).Marakon - strategy and general management consultants. Retrieved 10 February 2015, from https://marakon.com pageuppeople,. (2015).Talent Search. Retrieved 10 February 2015, from https://www.pageuppeople.com/wp-content/uploads/2012/06/Seeking-a-New-Generation-of-Workers-in-the-Oil-and-Gas-Industry1.pdf