Recruiting, Re-Skilling, Retaining, Rewarding Talent in...

Recruiting, Re-Skilling, Retaining, Rewarding Talent in

the Hydrocarbon sector

Petrotech 2016

one vision . one vedanta .

Overview

Era of easy oil on decline, mix of required skillsets changing

dramatically

Focus on low cost plays and increase emphasis on near

term opportunities

People and Organization remain critical challenge for the

Industry

Projected shortage at Global level even in the lower demand

scenario

Grow versus Buy model

Reducing Time to Autonomy

Inter and Intra company collaboration for long term solution

Exploring Talent for Exploring Oil


Global Energy Demand

Source: Wood Mackenzie


Lessons Learned: Re-focusing Portfolios

Most companies are moving towards lower cost plays and increase emphasis on near-term opportunities.

Efficiencies driving Opexoptimization

Focus on cash preservation & driving Capex prudence

Source: Wood Mackenzie

Evolution of Company Strategies


Talent Outlook: 2025

O&G workforce Occupation Group

Source: IEA International Energy Outlook

The Middle East countries rely on Expat workforce, while Asia battles to retain and attract home its experienced, indigenous workforce.

CIS and Latin & North American countries are projected to have a substantial shortage by 2025.

Europe, Australia are projected to have a potentially substantial surplus.

Women in O&G: Targeting the female market to tackle the skills shortage.

Talent Migration by Region


Our Philosophy

Attracting leaders

• Are we hiring not only for our current needs but future needs from campuses & industry?

Developing leaders

• Are we providing the right development opportunities for our leaders

Rewarding leadership behaviours

• Are we differentiating rewards for potential and leadership behaviours

Accelerated leadership growth

• Are we growing leaders faster than others

Engaging leaders

• Are we engaging them so as to retain them?

Culture – Are we building the right culture for leaders to grow leaders?

Acquire talent early on

Nurture the talent

Accelerate their growth


Talent Loss due to Retirement. Continue to Invest in Young Talent

Source: Energy vertical research , ILM Analysis on workforce drivers, 2015Cairn’s GT Program

Asia has significantly younger workforce. Europe, US/ Canada will need to attract younger workers as the current

workforce heads to retirement.

Learn and develop new skills and grow continuously by working with best-in class minds in the industry

Opportunity to gain hands on experience while working on challenging real-time assignments and projects.

Accomplish and get recognized for achievements that directly drive business results and create lasting impact

Chart out an exciting career journey in an continuous learning environment

One year Petrotech Graduate Trainee program to help groom Graduates hired from premier technical institutes into successful Oil and Gas professionals.


Optimizing Time to Autonomy is Key to Success

Skill based learning interventions

Plan Career movements

Structured Job Rotations

Anchoring by Senior Leaders

Identify ways to reduce Time to Autonomy


Professional Career Architecture at Cairn

Flexibility to choose your own career path aligned to organization needs & individual aspirations

1B

2C

3A

3C

3B

1A

2B

2A

Career

LevelManagerial

TrackProfessional

Track

Distinguished Advisor

Head

GM

DGM

Sr. Advisor

Advisor

Principal ‘Discipline’ Engineer

Lead ‘Discipline’ Engineer

Sr. ‘Discipline’ Engineer

‘Discipline’ Engineer

-

Director

Professional Track

- Roles on this track have:

• Significantly high focus on building technical excellence

• Work on solutions that make it a differentiator in the industry

• Can influence internal and external groups and are considered technical thought leaders

Managerial Track

- Roles on this track have:

• Significantly high focus on department/function leadership and financial responsibilities

• Significant people management responsibilities

• Substantial focus on stakeholder management

Technical Fellow

Responds to business needs

Responds to employee needs

• Helps enhance the organization’s technical capability essential to meet current and future needs

• Provides a balanced structure with clarity in expectations across career levels

• Equitable career

opportunities for technical and managerial talent

• Provides opportunities for development of specific technical skills based on business need


Re-Skilling Existing Workforce by Job Rotations

• Aimed at building future capability of the organization

• A development platform for employees to acquire multi-dimensional knowledge & skills

• To expose employees to different experiences and variety of challenges

Employee

Organization

Our Objective

- Develop their own career path inline with their career aspirations

- Acquire multi-dimensional knowledge & skills for self-development

- Intrinsic motivation to perform caused by newer challenges

What’s in it for Employees

- Build current & future capabilities to meet the business needs

- Build rich talent pool with diverse skill set & experiences

- Have the right people in the right job

What’s in it for the Org


Engage to Retain

Retention

Connect

Involve

Develop

Care

Sharing Updates and Business Priorities.Key messages around job rotations, growth opportunities, development

Involving employees in initiatives for optimization and enhancing org-effectiveness through innovation

Providing opportunities for career development

Creating a learning ecosystem, facilitate development of cross-functional capabilities

Demonstrating a feeling of careResponding to changing employee needs

- Employee Town-halls- Leadership Connect- Department Town-halls- V Connect

- Cross functional projects- Idea Dropbox: Promoting Innovation- Project Drive: Optimizing Cost

- Structured job rotations- Role enhancements- IJP: Promoting mobility- Learning Programs

- Wellness Programs- Employee friendly policies


Rewards & Recognition

• Over 23% Organizations changed rewards structure to retain talent.

• LTIP to retain top performers• Bonus payouts linked to level of

performance, linked to KPIs.• Retention incentives for top talent.

Changes made by Employers to attract & retain talent

• Identify what's meaningful to your employees. • Keep employee recognition fresh. • Recognize all levels of employees. • Make sure recognition is given consistently.• Keep it simple, adaptable, timely.

Cairn Awards for Excellence

Project Awards

Monetary & Non-

Monetary Recognition

Source: Hays Oil & Gas Salary Survey 2016

Changes not revealed


Looking Ahead: Talent Strategies

Develop a talent strategy road map

Apply workforce planning and analytics

Assess and implement a more effective organizational design

Develop talent through career and performance management

Define your employee value proposition through the development of an engaging

culture

Identify key talent and build succession. Build the pipeline through leadership

assessment and development interventions


Thank You!

Recruiting, Re-Skilling, Retaining, Rewarding Talent in...

Documents

Transcript of Recruiting, Re-Skilling, Retaining, Rewarding Talent in...