Old ways of working cannot attract, or retain, a new generation of employees. That’s a critical factor for oil and gas organizations as they transform in the digital age. According to EY, “Success for oil and gas companies will require recruiting, managing and retaining a workforce which not only sustains the business, but also innovates and executes in powerful new ways.” A McKinsey report notes that companies who embrace the Internet of Things, artificial intelligence and Industry 4.0 will attract the best of millennial employees.

Who are the Millennials? They’re the young professionals who have grown up in a digital environment. For these “digital natives,” virtual reality consumer products and gaming technologies have been commonplace in their lives. Comfortable with experimenting, discovering and collaborating using digital technologies, they expect their workplaces to encourage the same. At the same time, this generation will value a corporate culture far different from the traditional organizations of the past. The McKinsey report notes that the millennial-managed organization of the future will offer:

More flexible employment structures, including technology-enabled remote working and flexible working hours, sabbaticals to support personal development, and career paths with more rapid progress cycles.

Organizational agility, an environment that enables fluid teaming, loose hierarchies, rapid prototyping and instant performance feedback.

A new working environment and culture, including the application of social-media tools in the corporate setting, instead of traditional intranet and file-sharing tools.

A positive external footprint, with corporations who are making positive contributions to society. 14 percent of millennials say they would not want to work in the oil and gas industry because of its negative image.

The McKinsey report notes that millennials are no longer a small group of new university graduates; in many companies, they occupy managerial roles and are starting to climb into the executive ranks. For oil and gas companies, attracting and retaining the best and brightest will require creating an environment that meets the expectations of millennial leaders. Digitization will be an essential element of this workplace. Learn how our 3DEXPERIENCE platform can drive this transformation.

To find out more about Dassault Systemes 3DEXPERIENCE platform, click here.