By Prof. Dr. Frank Gielen, education director at InnoEnergy.
“Great talent drives innovation. But it goes the other way too. The best talent wants to work for innovative companies – it can be a virtuous or vicious circle depending on whether companies get it right.
There are many ways to innovate – and to show it – but one way some respondents to our survey approached it was to create specific innovation divisions, or even separate entities. In many ways this mirrors moves made by some banks, which have opened fintech (financial technology) accelerators that are wholly owned but separately run, avoiding the traditional, slow-moving corporate structure and potentially moving out of the shadow of a parent brand that is perceived as old-fashioned.
Start-ups are often perceived as innovative by default, but this is one-way larger energy companies can look to bolster their reputation and performance regarding innovation.
An international mindset
Europe is a fantastic place for energy companies to do business. European economies have shown global leadership on energy and environmental issues, and initiatives like the Energy Union bring countries closer together. However, a host of barriers remain: languages, local regulations, business practices, equipment specifications – there is still a lot of divergence out there.
Therefore, as the energy sector becomes more connected and collaborative internationally, companies will need to reflect that in their recruitment. This means obvious considerations like language skills, but also looking for new talent that has knowledge of different international policies and regulations.
“The future of the sector will be much more global/international in scope and therefore this has a big impact from a regulatory perspective. Even in Europe, there are significant barriers to creating international solutions or changes, be those of language, regulation, tax, consumer protection, etc. Whilst on a technical level the solutions and platforms are in place to support cross-border operating models, the regulatory framework is not.” – EU Policy Director, energy policy association
Fortunately, this need converges with another trend in the next generation workforce: international career aspirations. Just as more millennials want careers that include various different roles in different companies, more are looking for careers that include stints in different countries. By harnessing that desire, energy companies can help themselves cope with this particular transition.
Preparing for tomorrow
To be prepared for these workforce trends and challenges, companies need to start thinking about them now. In many cases, this extends beyond HR to top-level questions about the company: how can we innovate, what is our environmental impact? In others, the key lies in working closely with universities and other organisations to put schemes in place to ensure that tomorrow’s talent has this broader skillset when it steps out into the world of employment.
This is precisely the philosophy behind the InnoEnergy Game Changing Impact Programme. Coaching in core business skills enables Masters and PhD graduates to enter the industry and make an immediate, positive impact. For both energy companies and tomorrow’s talent, schemes like this will be key to getting the most out of a career.”