Published on June 17th, 2019 | by Emergent Enterprise0
IoT Tech Helps Oil and Gas Industry’s Skills Shortage
The oil and gas industry is more proof that more jobs are needed in the future than emergent technology will replace. Alice Gillam at readwrite.com gives an overview of the impact of IoT in oil & gas and how it is much needed to help with the upcoming shortage of skilled workers. Call off the unemployment apocalypse and train workers up with the right skill sets.
There has been much hype about IIoT (Industrial IoT), with promises to improve efficiency, reduce risks, and increase profits. Along with the implementation of other new technologies, it’s being called the fourth industrial revolution. Experts are predicting that it will be more disruptive than any that have gone before and one of the most significant changes will be in the way we work. IoT tech helps oil and gas industry’s skills shortage.
The oil and gas industry is currently facing a skills shortage. A survey of more than 17,000 industry professionals found that 40% of respondents felt that a crisis had already hit the industry, with a further 28% expecting it to take hold in the next five years.
This is due to several factors, including skilled workers retiring or leaving the sector and a lack of younger people who want to fill those roles. The volatility of the price of oil has led to some workers deciding to seek more stable employment.
A Skills Pipeline Problem
According to HR Magazine, nearly half of employees in the sector will soon reach retirement age. They estimate that the North Sea oil and gas industry needs to recruit and train 125,000 workers in the next 10 years to replace those who will retire.
The Global Energy Talent Index (GETI) report lays the blame on cuts to graduate recruitment and apprenticeships during the oil downturn as well as young graduates now being attracted more to work in the technology sector.
Attracting New Talent to the Oil and Gas Industry
We also shouldn’t overlook the appeal (or lack of appeal) to young people of working in the oil and gas industry as a factor in the skills shortage.
According to Hannah Peet, managing director at Energy Jobline, “For many, the power industry has a reputation for being dull and old-fashioned … Young, digitally-skilled graduates don’t see energy as an exciting sector to go into. For those that do look at energy, it’s the renewables sector that catches [their] attention.”
Many young people may see working in renewables as a career path with better long term prospects as well as one which is more closely aligned with their values.
Engineering jobs in the renewable sector have continued to grow and, in some areas, they outstrip those in the oil and gas sector.