Working It Out

摘要

The global oil industry is undergoing a momentous change as companies with the energy transition and a shift toward a market where demand, rather than supply, dictates commodity prices. In response, organizations large and small are overhauling their portfolios: either beefing up exposure to renewables and power generation, global gas and LNG; or doubling down on low-cost oil. But to realize the full benefits of these shifts in assets and industries, they will need to radically change their approach to the energy sector's workforce. While many do need to cut staff, simply slashing headcounts and salaries is not the path to future prosperity. Just as portfolio management initiatives must not only cut high-cost assets but also add areas for growth, oil and gas companies must identify which employees are expendable, while also ascertaining which are indispensable before figuring out how to attract and keep them.