Finding The ‘Right’ Leadership In The Energy Sector
The oil, gas, power and utilities industries are undergoing major transformation. The fluctuations of commodity prices, changing business models, technological advancements, and many more, are the uncertainties that are affecting the sector. In light of all the uncertainties, it is important that organisations have the right leadership talent to lead them to organisation success and sustainability.
Just like in any business, issues with leadership can lead to stifling of creativity, reduction in productivity and damaging the daily operations of the organisations. Executive leadership in the energy industry is made up predominantly of individuals who showed exceptional abilities in managing collaborative projects and are considered as the “good hands”. These “good hands” had great success in overseeing operations, but that often does not correlate to their managerial skills.
Here are some of the challenges that organisation faced when it comes to finding the right leadership: –
- Lack of skills
While organisations are looking to employ new leadership to handle the complicated challenges in today’s environment, they are facing difficulties in identifying the right set of skills in their leaders. In order to achieve organisation success, there is a need for companies to select candidates who can work well with the organisation corporate culture, have a robust set of skills and experience and can articulate a vision. In a survey conducted by Mercer, it was found out that leadership, management and supervisor skills were noted as being in short supply.
- Lack of supervision
The ever-changing demographics of the industry requires significant change in the approach of performance management, creating the need for continuous training. Continuous training can be in the form of constant feedbacks and assessments. However, it is challenging to convince supervisors to embrace on the job coaching and giving continuous feedback and constructive feedback, as they may not be comfortable in being candid and vocal in their assessments. As supervisors get busy, this may be less prioritised as compared to the other tasks they have on hand. Organisations should realised the importance of continuous training as this is the stepping stone to grooming leaders who will eventually be key decision makers in the organisations.
- Small talent pool
The broader senior executive talent is getting smaller because of limited hiring in the 1980s and an aging workforce. It was reported that over two-third of the senior executives in the energy and utilities industry are 55 years old or older. Organisations should therefore mentor up-and-coming talent; evaluate talent from other industries to determine who is suitable and can be developed into designated roles after training by industry veterans; ensure an inclusive culture and working environment to better attract and retain talents.
Leadership and Strategic Thinking is a 2-day course that will help organisations nurture and develop leaders to meet the demands and expectations in the business sector, especially so in the oil and gas industry. This course is designed to equip delegates with skills that can be applicable to their organisation, supporting growth and change in their organisation. For more information, please visit us at http://www.opuskinetic.com/training or contact us at info@opuskinetic.com
Opus Kinetic believes that people are why organisations are successful, and giving people the knowledge to perform well at their job is integral for success. We pride ourselves as the premier provider of knowledge, offering acclaimed in-house training, leadership training courses, oil and gas training courses, courses that target health safety and environment, etc. Our training courses are well researched and updated with the latest industry trends. For more information on our professional training programs, you can visit us at http://www.opuskinetic.com/training.