That’s why we often lose so many people—people you might need again in just a few months. It’s also why younger generations don’t get the chance to specialize and truly become experts in their fields. Becoming highly skilled requires sustained engagement and proper working conditions. That’s why we have BA managers in roles that would benefit from specialized management, people who are knowledgeable and experienced in the field. As someone nearing retirement, I can attest to the rapid erosion of institutional memory and accumulated knowledge. The younger workforce is facing constant volatility, and continuity has been lost. This spells disaster in the long term. We’re already seeing the negative effects in the form of all kinds of problems, inefficiencies, and the lack of vision and development. Offshoring will only worsen the systemic issues."
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100% right. How can you have a successful company and retain talented workers when you are constantly making changes. The beat change is a change in leadership.
Firstly Russian oil is far from banned, but overall I agree with you, demand is diminishing while new sources of non-opec supply keep ramping up.
Something’s gotta give, and a new bust seems to be on the way. The old people are stuck but why would a new hire join this industry is beyond my understanding.
Short term thinking might be the right approach post Covid, yes perhaps I. The 80s, 90s the long term vision and planning was the way to go but now with ever changing energy landscape, potential development of advance clean energy options and unfortunate negative sentiment [which is wrong] toward fossils fuel, the demand is diminishing [note that Russian oil is already banned and the prices are still in the 70's despite 4 years of inflation post Covid].
While true, sadly If you are specialized you are certainly on the chopping board. The reasoning often given by the consultants is, "You can always hire a contractor with specialized experience as necessary and you don't need to keep someone on the payroll for that. Keeping someone on payroll is very expensive." Following this model the whole Drilling, Exploration and UCBB were cut down in 2020. For this reason there is a motivation for mid-career folks to move away from specialization.
Sadly, ELT doesn't care at all about the quality of its employees. They have made that crystal clear. Totally agree with the Boeing comparison.
Ding! Ding! Ding!
Next Boeing on the horizon?
100% agree