S05 ORME 3 2021 downhole products_Layout 1 07/05/2021 10:55 Page 16
Diversity & Inclusion
The impact of diversity and inclusion
in oil & gas Vidya Ramnath, president, Automation Solutions Middle East & Africa (MEA), Emerson, discusses the benefits of promoting a culture of diversity and inclusion in the oil and gas industry. S DIVERSITY & Inclusion is often recognised and referred to as a single concept, these two ideas stand as separate thoughts that operate hand-in-hand. Both concepts require distinct acknowledgment and understanding from all parties, but remain interrelated. In terms of etymology, diversity is the full spectrum of human demographic differences that includes race, religion, gender, gender orientation, age, socio-economic status, or physical disability. On the other hand, inclusion is the cultural and environmental feeling of belonging, where it can be assessed as the extent to which employees are valued, respected, accepted, and encouraged to collaborate and contribute in the society, organisation, or group that they are part of. Diversity may be the platform that supports the development of an organisation, but it is the inclusion that elevates that initiative. Having been a significant topic on the business development agenda over the past several years, diversity and inclusion may be an ambitious feat, but not impossible to achieve – and may have already been developed and nurtured into flourishing enterprise programmes over the few years of incubation. However, it is a glaring fact that the energy and oil & gas industry to date still lacks a strong track record in championing and cultivating diverse talent. Based on the Women's Human Rights Report Series, it is evident that women are significantly under-represented, especially in most prominent extractive industries such as oil, gas, and mining. A clear picture of this has been painted as described in Catalyst's research where they have stated that there are fewer women in the oil and gas industry than almost any other major industry. Women account for less than a quarter (22%) of employees across this industry, while gender diversity decreases as the ladder of authority goes up. Across the globe, the percentage of women accounts for 27% of entry-level positions requiring college degrees, 25% of mid-career roles, 17% of
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oilreview.me
Issue 3 2021
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Oil and gas companies are increasingly realising the benefits of a more diverse and inclusive culture.
senior/executive-level roles, and only 1% of women leaders at the CEO level. Even though the oil and gas industry is faced with these numbers, the workforce remains hopeful for change. Based on a survey conducted by the New Mexico Oil and Gas Association, 91% of respondents believe that the industry is experiencing an era of monumental change and 94% believe that diversity of thought and experience is key in navigating the disruption. And they are right when they say that the industry is changing – the landscape is shifting, and the industry is in significant need of skilled young talent. The oil and gas sector is facing a slow, yet
inevitable challenge of an ageing workforce – the impending "crew change" where experts are expected to hand over their key to a younger generation. The industry will require a continuous influx of a skilled younger workforce to ensure that their ROI is protected in terms of productivity – a vital component in any company's success. With these challenges thriving in the absence of diversity, organisations will continuously miss the mark on achieving key insights and innovations, two components that can drive opportunity and growth. To address these issues, leaders are called upon to invest in building a diverse talent pipeline that spans across all levels, as well as to
