The oil and gas industry is facing strong competition in attracting science, technology, engineering and mathematics (STEM) talent, with 44 percent of STEM millennials and Generation Zs (Gen Z) interested in pursuing a career in oil and gas, compared to 77 percent in the technology sector, 58 percent in life sciences and pharmaceuticals, and 57 percent in healthcare, according to the inaugural global “Workforce of the Future” survey released by the Abu Dhabi National Oil Co. (ADNOC) at CERAWeek by IHS Markit, held recently in Houston.
The survey was commissioned by ADNOC to examine future workforce and employment trends in the oil and gas industry, particularly as the industry looks to attract STEM talent and enable the Fourth Industrial Age. The survey interviewed STEM students and young professionals aged 15-35 in 10 countries across North America, Europe, Asia and the Middle East, representing a mix of significant global economies and producers and consumers of oil and gas, and looked at their perceptions across multiple STEMrelated industries, including oil and gas, and the skills they value and believe are required to succeed in these industries. Key findings include:
- “Salary,” “work/life balance,” “job stability,” “on-the-job fulfillment,” and “a good work environment” are ranked as the top five drivers behind potential career choices for STEM millennials and Gen Zs.
- Young STEM talent also associate the oil and gas industry with high salaries and see it as an industry that is invaluable. That the oil and gas industry “pays well,” “is crucial for [their] country’s economy and development,” and is “an industry [they] couldn’t live without” ranked as the top three positive attributes of the industry.
- STEM millennials and Gen Zs show the most interest in industries they believe will be most impacted by new technologies. Globally, 42 percent say new technologies will have a major impact on the oil and gas industry, while 56 percent say the same for healthcare, 53 percent for life sciences and pharmaceuticals, and 73 percent for the technology industry.
“The findings from the ADNOC Workforce of the Future survey show the more STEM millennials and Gen Zs associate oil and gas with new technologies, the more interested they will be in a career in the industry,” said United Arab Emirates Minister of State and ADNOC Group CEO Dr. Sultan Ahmed Al Jaber. “The oil and gas industry should position itself at the cutting edge of technology and showcase how breakthrough innovation is vital to every aspect of our business across the upstream and downstream value chain.
“As we enter the Fourth Industrial Age, we need to come together as an industry and, with our technology industry partners, better highlight the exciting opportunities our dynamic industry offers to young talent with strong technology skills.”
The results also show STEM millennials and Gen Zs appear divided on whether oil and gas is an industry of the future (45 percent) or the past (44 percent). The data also indicates a mismatch between what STEM millennials and Gen Zs see as the most important skills to succeed professionally and what they see are the most important skills for a career in the oil and gas industry.
“Information technology and computer” skills and “creativity and innovative thinking” are seen as the most important skillsets for succeeding in the future, but only 18 percent see “IT and computer” and “creativity and innovative thinking” as important skills for a career in oil and gas.
The data also shows some experience in the job market and a tertiary education in STEM subjects can help change perceptions positively toward a career in the oil and gas sector. While interest is low among secondary school-age STEM students (37 percent), this figure rises to approximately half (51 percent) of young professionals, representing a 14-point increase.
“Oil and gas have always been – and will continue to be – an industry of the future that is at the forefront of technology and innovation,” Al Jaber added. “It is an exciting time for STEM talent to join the industry.”
For more information and to download a copy of the survey, visit www.adnoc.ae.