Publications

Competition for talent in the Oil and Gas industry is War, especially for petro-technical and drilling engineering professionals. Since 2004, shortages of qualified professionals in these disciplines have become a major issue for Indonesia upstream Oil & Gas industries as work programs and budgets have increased in step with rising oil prices.Several concurrent causal factors triggered the “War for Talent. In developed countries there has been a marked decrease in undergraduates studying Petroleum Engineering and other Geo-science disciplines while increasing oil prices have provided significant incentives for Oil & gas companies to increase spending.VICO Indonesia has not been unaffected by this “War for Talent. Since 2004, twenty-two midcareer and senior petro-technical professionals have resigned to join other international firms. This loss of almost 30% of VICOs total petro-technical professionals occurred coincidently with the Companys plan to triple its capital expenditures during the period 2005 - 2010. Consequently, fulfillment of organizational manpower requirements has become a primary focal point for VICO HR & Services division.VICO HR & Services division responded to this “War for Talent through a comprehensive integrated approach focusing on 12 elements: Organizational Structural Alignment, Recruitment, Competency Development, Talent Development, Performance Evaluation, Promotion, Succession Planning, Monetary Rewards, Non-Monetary Rewards, Industrial Relations, People Assurance Survey, and Contract Employees.Through this integrated approach, VICO has achieved its production targets for 2006 and 2007, preparing a road map for the next five years capital program through a comprehensive “Renewal Plan.