Balancing the people equation—how enhanced collaboration can help solve labour challenges in the LNG industry

Abstract

The operating environment of the LNG industry is increasingly complex as companies must balance the management of present and expected growth amidst growing economic uncertainty, volatile commodity prices, and increasing environmental and regulatory pressures. Additionally, growth in the industry is shifting workforce challenges and shaping human capital trends. These workforce challenges include: attraction and retention of talent; labour and skills shortages; managing employee turnover/retention; compensation expectations; and, productivity and employee engagement. As long as projects address this problem individually, the prospects for retaining skilled employees, improving sustainable productivity, and driving labour costs down are limited. A collaborative industry approach is required to minimise risk and cost for all, while still providing ample employment and development opportunities in the sector. This extended abstract explores industry collaboration as a means to addressing labour challenges, it presents evidence about how the Canadian Oil Sands industry approached this issue, and it discusses people collaboration opportunities for Australian LNG.