Importance of Training in Oil and Gas Industry
Estimated reading time: 5 minutes
Importance of Training in Oil and Gas Industry
In an organization, training and development activities are aimed at improving the skills and knowledge of its individuals. An organization’s training curriculum and strategy can greatly impact its’s ability to meet the industry regulations and standards. This is more pronounced in the oil and gas industry, as indicated by a study done by Raytheon Professional services (RPS), a global provider of learning solutions, on 304 oil and gas professionals, which revealed that 50 percent of them believed that training is crucial and has helped them achieve their organization’s long term goals.
Here are 5 main points that highlights the importance of training in the oil and gas industry:
- Improved performance
- Employee engagement
- Career enhancement and security
- Improved wages
- Nurture young talent
Improved performance
Training helps individuals expand their knowledge and learn more advanced technological skills and adapt to the rapidly evolving competitive environment. It also helps in networking and drawing from other’s experience. Training is one major element organizations consider when looking to offer promotions.
Employee engagement
Employees who are engaged naturally bring more value to the organization. When an organization dedicates time and resources for training programmes, it means they value their employees and the sense of being valued increases employee engagement exponentially.
Career enhancement and security
Employees should continue to learn and develop new professional skills as this will open-up opportunities for advancement in their career. The oil and gas industry, which is highly price sensitive, is dependent on the health of the economy. When an employee is skilled and familiar with the best practices ensures that he’s valuable to the employer and doesn’t need to worry about job security.
Improved wages
An employee who is more skilled will inevitably earn more income. A survey done by Energy voice showed that 42 percent of oil and gas professionals had got a pay raise post acquiring new skills from training programmes.
Talent drain is an issue faced by many industries and oil & gas industry is no exception. When older and more experienced employees retire from the company, it leads to a huge talent gap in the organization. So, in order to avoid facing such scenarios, organizations should train young employees in order to prepare them for more difficult responsibilities in the future.
The challenge of connecting employers and educators to collaboratively plan for training future workers is an enduring one, particularly for jobs that are rapidly changing because of technological advancements. Therefore, organizations need to be on their toes and provide their employees with the best training available and stay ahead in the industry.
- Case Study: Jobs and Skills in Demand – What Employers Need
RAND Corporation had conducted a research report “Developing a Skilled Workforce for the Oil and Natural Gas Industry”. It provides an analysis of the Employers and Colleges in Ohio, Pennsylvania, and West Virginia and these were their key findings. Essentially, jobs in the oil and gas sector require a highly skilled workforce.
- What knowledge and skills are required by employers in the oil and natural gas industry?
In the survey conducted, employers indicated that high-priority jobs are defined as jobs that are critical to company’s core business, required more advanced skills and had a higher pay. The study found that employers look for basic cross-cutting skills in their workers — such as time management, speaking, and writing — and knowledge of business operations (including sales and marketing). They are deemed as essential for their workers to competently perform in high-priority jobs.
The survey also revealed the importance of investing in on-the-job training, especially in the oil and gas sector. This ensures that workers are performing their job appropriately and up to regulatory standards. The survey results showed that about 52 percent of employers having high priority occupations required moderate term on-the-job training and the rate was as high as 28 percent for long term on-the-job training.
Employers reported that they are looking for individuals who are creative and have strong critical thinking skills as this would help them solve work-based problems and make sound decisions at work. Hence, this highlights the important skill sets that employers are looking for when hiring, and individuals need to be prepared.
Opus Kinetic believes that people are why organizations 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 trainings, and many other professional training courses spanning from various industries. Our training courses are well-researched and updated with the latest industry trends. For more information on our professional training programs, check out our training calendar below.