As demand for talent within the oil and gas industry grows, its pool is shrinking. Baby boomers are retiring, increased competition from non-traditional sources is heating up and contingent workforce needs are becoming more complex. In today's competitive reality, HR is shifting from a back-office function to a new strategic role at the heart of a company’s ability to stay relevant.
The implementation of analytics is the driver of this new role. It provides an organization with empirical evidence to determine which HR strategies are driving business results and which are holding them back.
In PwC's most recent point-of-view, Analytics-fortified talent management: The new strategic role for HR, we look briefly at how analytics addresses the oil and gas industry’s most pressing talent management needs: reducing turnover, fortifying talent programs to increase business performance, and leveraging training and succession planning to ensure all key technical and functional roles are staffed at peak performance.