Rebalancing Talent

It’s not easy to find a 30-year-old CEO in the oil and gas industry, but Yagya Ahuja reveals why that is all about to change.

Oil and gas is a huge industry, probably employing over a million people across the globe. It is a mature industry and it has hundreds of billions of dollars of investment riding on it. The industry has long placed emphasis on the importance of experience for those in top management positions, and correctly so. Senior management is expected to have accumulated years of experience before they are able to take leading positions on projects, and this is one of the reasons why we see so much 'white hair' at the helm. It has become almost mandatory for a person rising through the ranks to have "done their time". And while this is a valid reason, it has a flip side, because occasionally there is too much emphasis on the necessity of experience, and consequently you see less young people in senior positions within the industry.

Young talent
The oil and gas industry is in many states of transition and faces some fundamental conundrums. The biggest issue, without doubt, is can you have energy without destroying the environment and the planet for future generations? To answer that will require a fair amount of innovation both in technology and processes, as well as a change to how people approach the question itself. Some of the traditional solutions have to be thrown away because you can't do one or the other. Younger talent has almost an obligation to come in and change things, to bring in new thoughts, to help break some of the paradigms that have existed. Indeed, the industry can leverage this palpable excitement about renewable energy to help bring more young people into the sector.

Without doubt the mindsets and models that have existed particularly around how talent has been acquired, groomed and grown in the industry, has to be changed. We need to see buy-in from all the corporate people, from the academic institutions and from the professionals themselves, to see that the talent exists. To see that it is not only a mature sector, but that it is at the edge of technology. The complexities that are involved in profitably harnessing hydrocarbons requires cutting edge technology. We should talk more about this to young graduates coming out of universities. Working in energy is exciting, it is innovative and it is fundamental to human growth and progress. We need to change the way the sector is portrayed.

We need to break or at least change some of the old assumptions and restrictions of recruitment. The outreach of the industry needs to change, making people more interested and aware of the opportunities in the industry. We should be talking to young people, trying to get them more excited about the energy industry and to feel a nobler, higher cause for working in an industry that is fundamental to human growth and progress.

Geographical trends
While there is no doubt that we will start to see younger talent take over top management positions, it will take time as changes work their way through the entrenched systems. However, in the short-term, within the next five to seven years, I believe we will see geographical changes too, as economic focus shifts more eastward and towards newer economies in Africa. It will happen as the industry continues to embrace a rebalance, allowing for greater talent mobility and efficiency withtn the industry.

Emerging economies are creating many young, hungry, ambitious people. By bringing them in and making them mobile they will travel around delivering efficiency. And in the meanwhile we will see a rebirth of people interested in energy, in the more developed world. A decade from now we will see a rebalanced industry, one that relies ever increasingly on younger talent, innovation and mobility. 

Top tips

Yagya Ahuja's advice for young talent:

The spirit of adventure: the oil and gas industry is extremely exciting and offers you the ability to move to exotic places around the world. You can be based in the heart of London or New York for one posting, and find yourself on a rig off the coast of Angola or deep in equatorial Indonesia in the next.
Recognize the importance of the industry: The industry is fundamental to modern human society and helping human progress. Your work matters to humanity as a whole.
Be innovative: There is a talent gap emerging as baby boomers retire soon and younger employees will have to learn much quicker and embrace innovation. Stand up, embrace this change and drive the innovation that the industry needs.