Industries

Helping clients meet their business challenges begins with an in-depth understanding of the industries in which they work. That’s why KPMG LLP established its industry-driven structure. In fact, KPMG LLP was the first of the Big Four firms to organize itself along the same industry lines as clients.

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Unlock digital technology to increase human potential

Energy and natural resources companies can capitalize on digital transformation for a more efficient and productive workforce. It starts with a cultural shift.

As energy and natural resources companies (ENRC) adopt the use of digital tools and technologies, we see a seismic impact on the types of jobs available in the industry. Positions may continue to become automated and new roles are emerging to manage these tools. Strategic workforce planning will be crucial to ensure companies are ready for these changes.

The KPMG 2023 Global ENRC CEO survey found that the three key areas of focus for CEOs are: talent, growth, and innovation. Nearly two-thirds (64 percent) of CEOs (stated that investing in AI is a top priority. Approximately half (48 percent) expect to see a return on their generative AI (GenAI) investment within three to five years. And 52 percent are focusing on upskilling their people to prepare for the transition to both AI and clean energy (up 7 percent from 2022).

In 2022, a KPMG CEO Pulse Survey found that 70 percent of CEOs consider digitalization a top priority. Since that time, advancement of generative automated intelligence (GenAI) has certainly increased the imperative. Industry leaders say they need to be quicker to shift investment to digital opportunities and divest in areas where they face digital obsolescence.

Advancing digitization continues to be a top operational priority. A quarter of energy executives in the survey agreed that they could best achieve their growth objectives in the next three years by digitizing.

As digital tools and technologies increase in use, we will see a change in the way people work in the ENRC space. Administrative tasks in finance or payroll are going to be increasingly automated. Rather than eliminating jobs, forward-looking companies are upskilling employees to add value to automated processes.

At KPMG, an administrative assistant grew to become the firm’s most prolific user of GenAI technology. In fact, she led a GenAI training session developed, naturally, with the help of GenAI to write the first draft of a script.

Each sector within ENRC shares similarities, yet they all have distinct differences. Cybersecurity expertise, for example, is common across sectors as the threat of cybercrime knows no industry bounds. Automated intelligence and machine learning skills are also in demand as organizations transform for efficiency. And an analytics background—especially in people strategy—will be particularly valuable.

An aging workforce coupled with a decline in available talent and skills is a major risk across the industry. Increasing diversity to attract young, tech-savvy talent, is at least part of the solution.

Many new jobs are going to be analytical, using technology to provide insights that connect the dots between business STRATEGY and operations, finance, or the business itself.

Jagoba Garayo

KPMG Human Capital Advisory

Industry-specific challenges

Energy & Chemicals

In KPMG’s experience, most digital applications fail at the first pass, making digitalization even more difficult. Energy and natural resources companies have a distinct set of hurdles:

  • Physicality of operations – Energy companies are one of the most capital-intensive industries, leading to hesitance around digitalization. Digital tools need to prove worthy while offering relatively seamless integration.
  • Lack of agility – The need to navigate myriad laws and guidelines makes energy companies risk averse. Regulatory scrutiny and bureaucratic red tape often impede digital transformations. Employees are often encouraged to follow traditional routes and exercise caution. Hence, the culture has a low appetite for risk and high resistance to change.
  • Third-party dependencies – The supply chains of energy companies are usually fragmented. To tie operations together, organizations rely heavily on third-party vendors and suppliers. This makes digitalization even more complex with collaboration needed between disparate operational partners.

Sector-specific challenges

Each industry sector has its own set of workforce challenges, technical and otherwise:

Oil & Gas

  • Shortages in skilled workers and technicians
  • Talent gap in technical skills such as petroleum engineering skills, data analytics and AI and industry-specific experience
  • Lack of diversity ── underrepresentation of women and minorities, particularly in leadership roles

Power & Utilities

  • Lack of skilled professionals who possess expertise in new technologies, renewable energy systems, and cybersecurity
  • Challenge developing comprehensive employee training programs and recruitment strategies to bridge the skills gap, ensure seamless workforce transformation, and maintain technological competitiveness
  • Resistance to change and organizational culture

Natural Resources (Metals & Mining)

  • Shortages in skilled workers for specialized roles such as mining engineers, geologists, sine surveyors
  • Talent gap combined with an aging workforce
  • Diversity challenges: underrepresentation of women and minorities especially in leadership roles 

Chemicals

  • Significant decrease in graduates with chemical engineering degrees
  • Employer branding challenges to attract and fill talent pipeline
  • Lack of diversity and inclusion, especially in leadership 

How KPMG can help

KPMG works extensively with energy and natural resources organizations and brings a unique point of view. We think of workforce planning not as a tech implementation, but as a full strategic transformation.

Our workforce-planning solutions help anticipate the skill sets needed to enhance the preparedness of organizations. We leverage GenAI to understand the roles that could be augmented, and we conduct strategic workforce planning on a continuous basis.

We can help companies achieve the digital value isubstantial ways:

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Digital skills

Digital skills

KPMG offers solutions to implement a skill-based talent-management process. This enables professionals to find alternative paths in their current roles or explore different jobs. They can utilize the same or similar skill set to broaden the digital talent pool. KPMG can also help organizations leverage diversity, equity, and inclusion (DEI) to build digital skills. This works by developing talent in underrepresented communities where candidates may lack the required skills to enter the industry.
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Learning and development

Learning and development

KPMG provides an innovative approach to equipping individuals, teams, and organizations with skills and knowledge that can be customized to your unique needs. Our focus on continuous learning and skill-building includes a range of tools, resources, and expert-led content to help stay ahead of the curve in today's dynamic business environment. Whether you are looking to upskill your workforce, enhance organizational capabilities, or drive innovation, our Learning as a Service (LaaS) provides a powerful solution to drive growth and success.
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Technological strategy

Technological strategy

KPMG professionals assess current technology inventory to create options for digital integrations. We have alliances with some of the strongest technology companies in the world, including Workday, Oracle, SAP, Microsoft, Google, and many more.
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Change management

Change management

Organizations can overcome change resistance by implementing a human-centric, proactive, and structured approach to technology. KPMG is a global leader in successful transformations by developing communication strategies, identifying potential risks, and creating risk-mitigation plans.
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Maturity assessment

Maturity assessment

KPMG works with organizations to assess the taxonomy of processes. This helps identify bottlenecks and recommend digital solutions. Conducting a maturity assessment can reduce dependencies on third parties or provide opportunities to foster a greater level of collaboration with them.

Strategic workforce planning is about who in the organization currently supports your vision, the skill sets you need, and how you set yourself up for the next one to three years.

Claura Louison

KPMG Human Capital Advisory

At KPMG, we believe that digitalization can revolutionize the use of technology in the ENRC industry. We help organizations to solve the issues they face today, and lead them into the future.

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How KPMG Human Capital Advisory Services can help

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KPMG Human Capital Advisory Services can provide your organization with innovative, multi-faceted people solutions and insights and drive accelerated, sustainable business performance. Harness our expertise with enterprise organization transformation, innovative talent strategies, HR, payroll, learning function optimization and implementation of all enabling technologies to develop a future-ready workforce that fuels growth and success for your organization. Embrace the future with KPMG Human Capital Advisory and experience a more innovative approach to building an agile, future-ready organization.

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Meet our team

KPMG Human Capital Advisory Services provides innovative, multi-faceted people solutions to help organizations navigate the challenges they face today. Work with us to ensure your workforce is future ready.

Image of Jagoba Garayo
Jagoba Garayo
Advisory Managing Director, Human Capital Advisory, KPMG US
Image of Claura Louison
Claura Louison
Manager Advisory, Human Capital Advisory, KPMG

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