The aging warriors: A study on the retiring oil and gas professionals
List of Authors
  • Farha Mohd , Sheikh Annuar Sh. A Rahim

Keyword
  • Oil and Gas, experience, retire, skill group, governance, knowledge download

Abstract
  • International Oil and Gas organizations face the gruelling task of juggling the right talent for the job, or risk cost over-run due to inefficient talent management while executing multiple projects simultaneously. The cost, time and quality of the project are governed by evolving demand and supply in this industry. There is a shift in the current approach in resource management to cushion the ageing workforce constraints in the Oil and Gas industry. It is a fact that the crucial knowledge is diluted as these seniors leave the industry without proper handover and documented lessons learned. This study was conducted in a Malaysian Oil and Gas company context. The rich meaning was extracted from semi-structured interviews, which derived the key causes of skill shortage in Oil and Gas. The objective was to find a governance matrix easily adaptable for senior expert workers and retirees in a post-COVID environment. Qualitative findings highlight five key elements in effective knowledge downloading; namely experience, knowledge, manpower, tools and skills. This is intertwined with the issue of an ageing workforce. This paper will deliberate challenges faced in project management and suggests the best method in adapting the ageing workforce dilemma. Findings in the study indicate that there is an equal correlation of the gaps studied in producing optimal results; with the strong importance of optimizing experiences of the senior workforce. Project management systems demand continuity as the old is replaced with the new generational workers. The catalyst to dynamic resource management is governance; it reflects increased efficiency in the organization as a whole. The interpretations and conclusions are suited for Oil and Gas skill group enhancement, but generalized to suit other knowledge-dependent industries.

Reference
  • 1. Alhanshi, M., & Albraiki, H. (2015, September 15). Knowledge Sharing and Employee Development in Oil and Gas Companies in the United Arab Emirates. Society of Petroleum Engineers. doi:10.2118/176764-MS

    2. APQC. (2012, April 17). Technical Talent Management: Sourcing, Developing and Retaining Technical Talent (Best Practices Report). Retrieved January 9, 2018, from https://www.apqc.org/resource-library/resource-listing/technical-talent-management-sourcing-developing-and-retaining

    3. Čiutienė, R. ū., & Railaitė, R. (2014). Challenges of Managing an Ageing Workforce. Procedia - Social and Behavioral Sciences, 156, 69–73. https://doi.org/10.1016/j.sbspro.2014.11.121

    4. De Massis, A., Frattini, F., Kotlar, J., Petruzzelli, A. M., & Wright, M. (2016). Innovation Through Tradition: Lessons From Innovative Family Businesses and Directions for Future Research. Academy of Management Perspectives, 30(1), 93–116. https://doi.org/10.5465/amp.2015.0017

    5. El-Den, J., & Sriratanaviriyakul, N. (2019). The Role of Opinions and Ideas as Types of Tacit Knowledge. Procedia Computer Science, 161, 23–31. https://doi.org/10.1016/j.procs.2019.11.095

    6. Grant, Robert. (2013). The Development of Knowledge Management in the Oil and Gas Industry. Universia Business Review. 40. 92-125.

    7. John Reh, F. (2019, January 14). Tips for a Younger Manager How to Manage and Motivate Older Employees. Retrieved 18 August 2019, from https://www.thebalancecareers.com/how-to-manage-older-workers-2276082

    8. Kukreja, S. (2018, August). Factors Affecting Human Resource Planning. Retrieved July 13, 2019, from https://www.managementstudyhq.com/factors-affecting-hrp

    9. McLaren, S. (2018, July 24). These Industries Will Face the Biggest Talent Shortages by 2030. Retrieved 10 February 2021, from https://business.linkedin.com/talent-solutions/blog/trends-and-research/2018/industries-biggest-talent-shortages-2030

    10. Sh A Rahim, S. A. (2021, January 19). An Analysis of Oil and Gas E-Learning CulturePre-Covid-19, During and Post-COVID Era | Solid State Technology. Retrieved 10 February 2021, from http://www.solidstatetechnology.us/index.php/JSST/article/view/8839

    11. Silverstein, M. (2008). Meeting the challenges of an aging workforce. American Journal of Industrial Medicine, 51(4), 269–280. https://doi.org/10.1002/ajim.20569

    12. SHRM. (2015, January 12). The Aging Workforce―Recruitment and Retention. Retrieved 9 August 2017, from https://www.shrm.org/hr-today/trends-and-forecasting/research-and-surveys/pages/shrm-older-workers-recruitment-and-retention.aspx

    13. Wilson, J. P., and Campbell, L. (2016). Developing a knowledge management policy for ISO 9001: 2015. Journal of Knowledge Management, 20(4), 829-844. doi:10.1108/jkm-11-2015-0472

    14. Yu, H., and Miller, P. (2005). Leadership style. Leadership and Organisation Development Journal, 26(1), 35-50. doi:10.1108/01437730510575570