SEVEN KEY DRIVERS FOR MOVING BEYOND CRISIS AND CREATING LONG-TERM SUSTAINABLE PERFORMANCE IN OIL AND GAS
Over the past 24 months, the oil and gas sector has experienced hardships not seen in decades. Although the havoc of mass layoffs and crude price “rollercoastering” may have diminished, the market is on the verge of new disruptions that promise to shape the industry.
In our new series, Energy Platform for Performance, Mercer identifies seven drivers for positive disruption with both short- and long-term implications and outlines opportunities for enhancing performance across the entire value chain.
The overview, A New World Requires a New Platform, launches a seven-part series of detailed briefs released throughout 2017, each delving deeper into a driver and identifying steps to help employers build a better, sustainable long-term business and HR strategy.
The Seven Drivers for Positive Disruption
These drivers are guideposts to creating a thriving workforce and enabling the enterprise to achieve new and unprecedented levels of sustainable productivity and performance.
- Organic Transformation: Business, financial, and workforce modelling are the cornerstones of defining the future and identifying the path forward.
- Inorganic Transformation: Organizations with world-class M&A competence define their transaction infrastructures and governance protocols well in advance of a deal.
- Lean Optimization: Organizations will have to continue to do more with less – impacting attraction, retention, and engagement. However, employers can turn this challenge into a differentiation opportunity by making the best strategic choices in reallocating human capital investments across the employer value proposition.
- Organization Design: Significant long-term opportunity lies within an organizational structure. Assessment of the firm’s state of change readiness and core change competency is critical.
- Resilient Workforces Will Drive Oil And Gas: Margins are tight, and talent is evolving. Rather than despair, reboot the talent strategy to capitalize on hiring the right worker.
- Future Workforce: Preparing for the future starts with fully understanding the primary forces of change for a specific business and developing a broad model of the future.
- HR Business Design: To lead and advance the organization, the HR function must understand its strengths and opportunities and define a path for greater contribution and effectiveness.