How Training Helps Retain and Grow Employees in Oil & Gas and Power Sectors

03-05-22 promisetrainingglobal 0 comment

According to Forbes’ list of the world’s largest public companies, oil and gas and power industries are enjoying good times. On the list, these sectors ranked first ahead of technology and communication, with revenue growing 16.2% on an annual basis.

Even with this enviable position, producers face a sobering “great crew change” dilemma: while there are more funds to invest in new projects, there are fewer new, experienced candidates to handle them as an aging workforce retires.

It is keeping industry CEOs awake at night. Reports indicate that 61 percent of oil and gas CEOs are concerned about competitors recruiting their best employees, and 64 percent think that there is a shortage of talent with the right skills.

To illustrate the staggering and alarming implications of this situation, 52 percent of CEOs surveyed in the same survey said that the availability of key talent was a potential threat to their company’s growth.

As a result, attracting and retaining talent is not only a top priority but also fierce competition for oil and gas and power companies. A training-based retention program may be the answer for many. Better-trained employees with the skills and potential to excel in their performance will make organizations more competitive in the world of growing industries.

Training Attracts

Training and development play an important role in improving employee recruitment, retention, and satisfaction, according to many studies.

  • 61 percent said they would prefer to work in an industry that offers training
  • In their industry, 67 percent do not believe they have enough career training to advance [because of a lack of career advancement opportunities.
  • A lack of skills training or certifications has prevented 48 percent of workers from progressing in their careers.

Clearly, training is a valuable investment. A training incentive program could attract new recruits who may not have otherwise considered these possibilities.

Training Retains

Employees who undergo a robust training program feel valued by their employers. According to research, companies rated high for both engagement (motivating) and enablement (supporting) are five times more likely to surpass performance expectations than those rated low.

People feel empowered and invested in a company when they can advance or learn new skills. Even lateral moves can boost loyalty. Through cross-training, employees are able to perform a variety of tasks, which makes repetitive work more tolerable and increases overall job satisfaction.

Start Your Training Program Today

Recruitment and development go hand in hand. To survive and succeed today, producers must continue to work on this. Training-oriented solutions are employed by companies in a number of ways, including collaborating with academic institutions, training existing employees to take on positions that are hard to fill, and expanding training programs to enhance new hires’ skills.

As you know today’s business world is changing so rapidly, you need to keep your skills up-to-date with those evolutions to ensure your business operates effectively, and your company logistics can gain a lot in terms of operations and profits. For this, you need to keep yourself equipped with the latest tools and knowledge so you can add value to your company and keep advancing your career.

Where to Undergo Oil & Gas Training?

So, you want to upgrade your skills to take your career to the next level, right? On your own capacity or finance support from your own company, you can do it. At Promise Training & Consultancy, you will find a sequence of premeditated courses and seminars, exclusively designed to provide you with a solid skills base.

The purchasing and procurement courses at Promise Training & Consultancy are designed to equip early-career to senior-level practitioners with skills essential to support supply chain functions, business skills, etc. They will learn effective planning, procurement, stock management, pricing, logistics, and distribution. This will help your business get going while your career will keep advancing to the next level.

Join our supply chain management courses in Dubai and master the necessary tactical skills in procurement, logistics, operations, and transportation. Our purchasing and procurement courses will help you obtain those skills that will improve your work efficiency and productivity.

Want to level up your skills? Contact us today at Promise Training & Consultancy.

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