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• W2001238064 abstract "Abstract In the mid-eighties Generation X was just starting to trickle into the workforce. Concurrently, the oil industry was starting to enter another cyclical downturn. Fairly impossible to discern at the time, that synchronicity led to profound, far-reaching consequences. Generation X, roughly defined as those born between 1965 and before 1980, presented a dilemma to businesses at large. Departing significantly from prevailing norms, they pursued work-life balance, flexibility, and independence. The most noteworthy aspect, though, was what they did not have: sufficient numbers to replace equivalent age demographics that they would eventually replace. Coupled with the economic downturns in the oil industry at the time, this posed double jeopardy: not only did we present a bleak and unattractive image, but we were also unable to open our doors to very many aspiring entrants. Resulting hiring deficits in the oil industry lasted for over a decade, and manifests now as the Big Crew Change as experts have called it. A challenge to the industry as a whole, it also translates into an unprecedented set of exciting opportunities for the latest incumbents, Generation Y. Roughly classified as the age demographic born between 1980 and 1999, Generation Y is being looked upon as the bridge material to not only fill the gaps in the workforce caused by the Generation X population deficit, but to also act as the conduit for transfer of knowledge and experience as Traditionalists and Baby Boomers continue to retire or approach retirement. Success in this transition is a strategic imperative for the industry today. There are many aspects of potential change that must be examined to ensure sustainable influx and retention of Generation Y workers. This analysis explores key opportunities for change in the industry, along with the pivotal role that Generation X can play in this evolution of the oilfield workforce. Introduction - Origins of the Oilfield Culture The oil industry as a whole is about 150 years old. Along the way Rockefeller showed the way to efficiencies in integrating for scale as he consolidated smaller operators into Standard Oil. Although the U.S. Justice Department ordered it broken up into smaller companies in 1911 over violation of anti-trust laws, many of the offshoot companies still remained fairly large, continued to leverage size and scale, and they also carried the legacy of the big company culture. These larger companies in particular exhibited characteristic traits amongst their workers, including strong hierarchical structure and rigid bureaucracies, traditional work ethic, devotion and dedication to the company - often for life. Given the large investments required for the extraction of oil, more and more the same large company patterns were established over time in the oil industry worldwide. Over the course of two world wars and periods of economic growth booms and severe depression, the oil industry changed in many ways as world markets underwent changes, technological innovations made harder reserves accessible, and economies across the globe became more and more interlinked. At the heart of its workforce, however, the deeply rooted traditional culture thrived, well into the eighties. Strong multi-layered corporate structures, slow moving decision and approval mechanisms governed the pace at which things got done. The sensitive nature of oil as a commodity of power - literally - has long been a source of political posturing and pressure. Many nations had not realized how dependent they had become on oil until in October 1973 the Arab members of OPEC cut production of oil and placed an embargo on shipments to the West. The 1973 oil crisis clearly underscored the economic dependency of countries on their petroleum supplies. As gasoline prices quadrupled, the world experienced sudden inflation, and economic recession set in. Moderation in oil consumption was a new concept to many; fuel-efficient vehicles gained favor, and for the first time alternative energy became a serious consideration. Effects of economic recession were experienced hardest in more industrialized nations. The oil industry subsequently started coming under the microscope as the public at large realized how vulnerable nations can be when their energy arteries become threatened." @default.
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• W2001238064 date "2007-10-30" @default.
• W2001238064 modified "2023-10-15" @default.
• W2001238064 title "The Changing Face of the Oilfield Worker: Preparing for Generation Y" @default.
• W2001238064 doi "https://doi.org/10.2118/109265-ms" @default.
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