On Bauer Business Focus — A conversation on finding qualified candidates in the oilfield services sector with Andrew Schneider, business reporter for KUHF 88.7 FM.
An interesting phenomenon is happening in the oilfield services sector—a high turnover rate of new and retiring employees. As this problem continues, industry experts and academicians are working to solve the issue.
Gordon Smith, clinical assistant professor of Supply Chain Management at the C. T. Bauer College of Business at the University of Houston and Director of Chronos Consulting, Imaad Mahfooz, stopped by Bauer Business Focus recently to discuss how their white paper, “Unleashing People Performance for Higher Global Profits and Productivity: Five strategies used by Oilfield Services companies to improve business performance, employee productivity and talent retention,” can help the industry with this issue.
“The problem is the energy sector is still booming,” Smith said. “The issue is they are not finding people in the right part of the globe for the projects that are out there. You have countries developing talent in Nigeria, for instance, but we’ve got big projects going on in Brazil, and we need talent in Brazil. A lot of it is a matter of supply and demand, and balancing those resources.”
In addition to balancing resources, the industry is looking outside of the typical spectrum to help with the high turnover rate, according to Mahfooz.
“As far as people are concerned that are about to be hired that have no experience in the oilfield services, we are seeing increasingly that the progressive companies in the sector are looking for similar industries they can get that talent from,” Mahfooz added. “They may not have the exact skills, but since they have this shortage, they’re having too become more creative.”
Click here to hear the full interview.