Skills Shortage and Talent war
In the resource states of Queensland and Western Australia, economic growth is forecast to be strong. The Queensland government is forecasting growth of 5 per cent in 2011-12 and 5.25 per cent in 2012—13. This compares to their forecast of national growth of 4 per cent and 3.75 per cent in the same period.
The WA government is forecasting growth of 4.5 per cent in 2011-12 and 4.0 per cent in 2012-13.
Australia’s unemployment rate remains at less than 5 per cent and this is forecast to fall as demand for skilled workers outstrips available supply. Access Economics have forecast that this could lead to a skills crisis where businesses are faced with skills shortages, increased labour turnover rates which result in firms losing specific skills that employees learnt there during their employment and increased wage rates.
For BP, with major manufacturing operations in Queensland and WA this is a concern. The combination of low unemployment, strong growth, skill shortages and strong demand from the resources sector and the post-flooding re-building effort in Queensland has already made it increasingly difficult for us to attract and retain staff, particularly engineers and tradespeople in these states.
One of BP’s response to this situation has been to further develop our Employee Value Proposition (EVP).
The EVP journey began in March 2009 when it was recognised that a strong employment brand would be essential to the long term success of the organisation.
One of BP’s response to this situation has been to further develop our Employee Value Proposition (EVP).
The EVP journey began in March 2009 when it was recognised that a strong employment brand would be essential to the long term success of the organisation.
The EVP focuses on 6 areas:
Progress from 2009 was measured by a survey in 2011 and the results will be included in the 2012 Sustainability report.
Delivering greater diversity and inclusion in the workplace also remains a priority. While some progress has been made in increasing female representation in leadership positions, more remains to be done.
Key diversity metrics such as gender distributions, pay differentials and leadership development are reviewed on a quarterly basis and measured against targets.
- A competitive reward package
- An environment where leadership excellence drives a high performance culture
- Challenging and meaningful roles
- Setting new standards to help ensure all our employees enjoy a happy and productive work/life balance at every stage of their career
- Opportunities to progress and develop
- Pride and a sense of belonging in BP
Progress from 2009 was measured by a survey in 2011 and the results will be included in the 2012 Sustainability report.
Delivering greater diversity and inclusion in the workplace also remains a priority. While some progress has been made in increasing female representation in leadership positions, more remains to be done.
Key diversity metrics such as gender distributions, pay differentials and leadership development are reviewed on a quarterly basis and measured against targets.
We have also committed to developing a Reconciliation Action Plan or RAP. The RAP will create a structured and systematic approach to identify future actions, timelines and measurable targets for enhancing relationships, respect and opportunities.
In developing the RAP, the BP leadership visited Central Australia to spend time with a number of Aboriginal communities to understand first-hand the issues they face where BP has made a difference and can continue to help communities develop.
The RAP will focus on areas which will: foster the pathways to full economic participation and employment; leverage BP’s supply chain to grow and promote Indigenous businesses; support and foster Indigenous enterprises; engage with staff, partners and communities and continue to provide low-aromatic petrol that helps reduce petrol sniffing.
Implementation of the RAP is intended to begin in 2012 and a report on progress will be included in our Sustainability Report.
In developing the RAP, the BP leadership visited Central Australia to spend time with a number of Aboriginal communities to understand first-hand the issues they face where BP has made a difference and can continue to help communities develop.
The RAP will focus on areas which will: foster the pathways to full economic participation and employment; leverage BP’s supply chain to grow and promote Indigenous businesses; support and foster Indigenous enterprises; engage with staff, partners and communities and continue to provide low-aromatic petrol that helps reduce petrol sniffing.
Implementation of the RAP is intended to begin in 2012 and a report on progress will be included in our Sustainability Report.
Attestation note
