Weathering the Storm; Keeping focused on what is important

Posted on July 14, 2015 by

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thunderstormOur water-cooler and cocktail bar conversations over the last few months have focussed on the current economic climate, the price of oil and a worry about the here and now.

It’s clear that the global economic factors which are at play can mean that all our emotional energy goes into worrying about the immediate, the short term. We may feel things are out of our control and that there’s really not much we can do.

February 2015 saw the publication of the “Call to Action: The Oil and Gas Authority Commission 2015”. Whilst much of the report focusses on efficiencies, creating a competitive cost base etc., it’s interesting to note that, alongside strategic and economic shifts, the report identified that in terms of Leadership, Behaviours and Culture “a cultural shift in the industry is required for companies to swiftly adapt their behaviours to tackle the challenges ahead”

It also recognised that, ”There is a significant prize available if drilling efficiency can be improved. Extended reach wells, for example can considerably improve the recovery and economics of field developments. A key success factor is the ability to drill more technically challenging wells in tightly controlled, reliable and more cost efficient way…….Human Factors such as engaged training, quality coaching and working as one team are critical”. It is clear that in the most technically challenging of arenas, people are the key to future success.

My own observation is that here we are in July and Aberdeen is still in survival-mode. Despite the “Call to Action” identifying the criticality of human factors, organisations are slashing development budgets and many are only carrying out mandatory training. This is completely understandable in terms of financial constraints. However, if we continue to only worry about the short term, we may find things even more challenging in the longer term.

Is your organisation looking ahead or getting by day-to-day? Are you ensuring your organisation is able to adapt and flourish going forward? Are your Leaders being developed to cope with the new demands on them? Are you investing in training and coaching or just letting everyone carry on as before?

For me, the key is to identify what’s critical for your business success going forward and to invest in people in a considered way; adding value without spending a fortune. Surely it doesn’t have to be all or nothing? With some creative thinking, and strong partnerships we can create clever cost-effective development solutions which will take us beyond the short term.

The Urquhart Partnership purveyors of engaging training, quality coaching and team building for 20 years…contact Julie McDonald 01224 651814 to have a chat about how we can help your organisation.