American Oil and Gas Reporter - October 2020 - 89

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or upskilled; 43% of the workforce will
be reskilled or upskilled; and it will take
10 months to reskill the average worker.
To do so, EY says, companies must:
· Overcome cultural and organizational barriers, including resistance to
change, values and mindsets, and governance and organizational design elements
that hinder flexible and rapid decisions;
· Solve for reskilling fundamentals such
as developing badge programs and building
curricula that curate open-source learning
material and align to intentionally applied,
on-the-job learning experiences; and
· Proceed quickly despite the impulse
to sacrifice these efforts to other priorities
in the worst market many companies
have experienced.
"If companies wait to come out of the
downturn to invest, they may not come
out of the downturn," EY asserts.
Playbook For Success
Technology and markets are evolving
so quickly that the three-year outlook of
its survey is better seen as a gauge of the
extended present rather than a near future,
EY offers, adding that the conclusion is
obvious: Companies must dedicate meaningful resources to reskilling their workforces immediately.

Surviving is going to require changes,
EY holds, reporting that 92% of the executives it surveyed acknowledge oil and
gas companies must change the way they
operate if they are going to compete coming out of the downturn.
"These changes will require an intentional, coherent approach to workforce
skills to maximize the advantage digital
technologies have today and for the future
of energy," EY argues. "Companies that
ignore these realities in favor of only
cost cutting may well emerge from the
pandemic economy at a substantial disadvantage to more agile competitors."
There is no one-size-fits-all playbook
to address the workforce challenge when
it comes to adopting digital, EY continues.
"Being digital" rather than "doing digital,"
it advises, requires a series of intentional
interventions-some large, some small-
to address the skills, mindset and culture
of the workforce.
It says challenges call for proactive,
integrated solutions to address small hurdles-creating curricula, identifying partners
and building evaluation systems-as well
as solutions to overcome the more fundamental and complex obstacles, such as
business strategy, mindsets, governance
and allocation of investment resources.

"It is no coincidence that the best
leaders are those who manage the greatest
transformations in trying times," EY emphasizes. "Executives need to ask these
critical questions in order to move toward
concrete, systemic solutions:"
· To what extent does my business
strategy rely on digital technologies to
get through the pandemic and make
growth gains in the subsequent years?
· Do we have an accurate assessment
of our employees' current skills and development potential, and therefore, a
sense of how many workers need to be
and can be reskilled or upskilled?
· What are the maturity, availability
and access levels of critical skills within
our organization and local market, and
which systems are necessary to begin to
measure those levels consistently and accurately?
· Which tools, partnerships and other
resources are available to aid in this transformation, and which still need to be
identified, forged or acquired?
· Do we have a comprehensive view
of organizational needs and resources to
strategically prioritize our efforts and find
the balances necessary to position our
organization for success now and in the
aftermath of the pandemic?
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American Oil and Gas Reporter - October 2020

Table of Contents for the Digital Edition of American Oil and Gas Reporter - October 2020
