A key without a lock or a lock without a key is of no use. Likely, a company at its crucial time of work without its employee is not a company. These days, many oil, gas, mining and construction companies are facing an unprecedented shortage of professionals and skilled trade’s people. One of the reason is most of the works will be retiring due to aging factor and most of the new workers are unwilling to take the jobs as they would stay away from home for a quite good time. Secondly, another issue faced is that the companies are not able to maintain the existing workers due to the poor living condition.
As the search for natural resources takes the company to a totally unknown area – while creating thousands of new jobs and rapid growth – the need for hiring a quality workers rises. So what could be done to recruit new workers maintaining the existing one for the betterment of the company?
Several amazing strategies can be implemented to increase productivity, profitability, enhances morale and reduce turnover. One of them is Workforce Housing as Recruitment and Retention Strategy – the solution to all these un-happening problems.
Issue Viewed In Terms Of Numbers: The labors gap will grow, according to a study by Petroleum Human Resources Council of Canada. The report says three factors will drive demand for workers in Canada over the next decade. Industry activity growth will create between 18,300 and 38,700 jobs. Age-related attrition will result in 44,200 to 45,300 open jobs as 23% of the workforce becomes eligible to retire.
Intense competition for talent within and outside the oil and gas industries will create even more demand: a 3% non-retirement turnover rate will add 62,600 to 65,800 job openings between 2013 and 2022, the report predicts. This means that by 2022 you will 125,000 to 150,000 new hires will be required.
A survey of 41 companies from seven petroleum industry indicates the fierce competition for experienced staff. The issues include – luring and maintaining workers in remote locations, labor and skills shortages and employee turnover.
Although, housing is not available in some areas, because of high home prices and apartment rent. Hence, it builds up the problem of turnover in oil, gas, mining and construction companies because of the remote site working.
Yahoo! We have A Solution Too! : With such difficult and challenging labor environment emerging, it is quite vital for the oil, gas, mining and construction companies to focus on the recruitment and retention of workers.
Fortunately, there are numerous strategies available to face these issues.
- One is to tackle the “other 12 hours” when workers are not working by offering top-quality housing to attract and retain these valuable workers.
- For the retiring workers, you can create talent management programs for individuals aged from 50 to 65.
- Hire non-temporary foreign workers.
- Connect more with more contractors – most of the workers prefer this approach.
- Smart hires – offer new opportunities to the workers underlying aspects from other areas.
- Improve the industry’s image to attract the younger accommodations ‘Gen Y’ environmentally aware demographic.
The above mentioned useful strategies can be useful to tackle companies’ looming skills shortages. However, to the end, all the solutions have one fundamental aspect in common: that is the necessity for attracting workers to workforce accommodations by addressing the other 12 hours during which they are not working. At last, the companies who have limited talent pool should now establish a housing edge.
So now you would be pretty clear that quality housing has become too important for rapid growth and this will lead to growth in projects within remote locations.
How Managers can Motivate Millennials with Employee Recognition (INFOGRAPHIC)