Oil Industry Facing Retirement Wave During Price Collapse

The Upcoming Workforce Turnover May See Tech Upgrades As A Solution To Close The Generational Gap
 
OKLAHOMA CITY - June 25, 2015 - PRLog -- The oil and gas industry is on the brink of having a hefty amount of retirement within their workforce. A recent survey by Schlumber Ltd. stated that the industry may lose a net of 5,000 experienced workers by the end of 2015. This predicament is currently being addressed by comprehensive planning, talent acquisition, and reaching out to new vendors in the tech industry to upgrade ways of doing business.

Although some companies may look at this predicament as a spot tight situation, many are embracing it, due to technological advances within the oil and gas industry where a younger generation can easily adapt and save companies possibly millions a year.

The seed of high priced business development planted in the 1970's and 1980's throughout the oil and gas industry carried on as a tradition due to a large return on investment, but presently many companies are operating on a lean expense account and spread thin with the current oil market pricing slump. Companies have begun exploring and implementing new procedures and technology for what 15-20 years ago, was very heavy on the company pocketbook. Automation, divestment websites, cloud based solutions, and software development, have all paved the way for what is becoming an evolving industry.

“With the torch being passed between the outgoing and incoming workforce within the energy industry, we are seeing an inflow of companies, looking to fill the shoes of pioneers who have set a precedent, for ways of doing business. Our solution to that is a one stop shop website for everything oil and gas.” Stated Tom Field, with ProductionBrokers.com. What used to take days and possibly weeks to accomplish, can be done in minutes on the website. “If you are looking for a pipe supplier in Southeast Texas, needing to auction off surplus equipment, buy or sell producing minerals, or even look for joint venture partners, the site has you covered...ProductionBrokers.com is an across the board hub for oil and gas wants and needs with a very user friendly interface” said Tom Field. ProductionBrokers.com fully launched in November and since has seen skyrocketing amounts of traffic from companies or individuals looking to do business in a more practical and profitable manner. Analysts predict that services like this, will blaze the trail for the way business is done within the industry, due to companies and their vendors adapting to technology.

Although the stream of retirements have begun, many companies feel that a 6 month rebound or consistent spike in oil prices, may be a way to retain some senior staff and integrate new ideas internally. Others feel that there may not be such a large talent shortage after all, with upgrades in technology.

End
Source: » Follow
Email:***@productionbrokers.com Email Verified
Tags:Business, Technology, Oil And Gas, Oil, Marketing
Industry:Business, Technology
Location:Oklahoma City - Oklahoma - United States
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
ProductionBrokers.com PRs
Trending News
Most Viewed
Top Daily News



Like PRLog?
9K2K1K
Click to Share