Subsea Expo are in the news again. This time they are making redundancies as 410 in Aberdeen are expected to lose their jobs. I listened to a spokesperson this morning on Good Morning Scotland (BBC Radio Scotland) explaining that their strategy is still to invest in new technology in order to attract capital investment and to continue to improve business performance.
Subsea 7 vice president for the UK and Canada, Phil Simons, said: “These proposed redundancies follow a continued trend of project delays and cancellations witnessed across the UK’s oil and gas industry that have impacted our activity levels, making it necessary to size our business base to align with our workload as well as consolidate various functions across the UK.
“As we look ahead we need to retain sufficient capacity to execute existing work and win new awards, while maintaining our core expertise in preparation for when the activity levels pick up again.
“In the meantime, we remain committed to implementing the necessary cost reduction measures and efficiency improvements to protect our business through the downturn.”
So says Oil and Gas Industry expert at Aberdeen Subsea Expo. Strong leaders are not afraid of transformation.
Subsea industry is facing difficulty according industry body Subsea UK. At least, so says chief executive Neil Gordon who has been speaking at an Expo event in Aberdeen where he urged oil and gas firms to transform the way they operate by being prepared to innovate and invest in technology.
Gordon suggested that overall capital expenditure will become more positive after 2016 but that “it is imperative that during this period Subsea UK demonstrates strong leadership by pushing the industry to more quickly adopt innovation and technology. We need to better explore how projects are currently delivered and then make the step-change to deliver major efficiencies.” He went on to talk about how it is imperative for the industry to be less risk-averse and more receptive to supporting the implementation of new technology.
Time and again, we are drafted into businesses – of all sizes and across all sectors – where someone strong has identified a weakness in the business efficiency and has decided to do something about it.
Typically this requires a great deal of honesty on the part of the business leader, who will have had to conduct a real evaluation of whether or not the business has arrived at the right destination or whether it’s time to change course. Understanding the strengths and weaknesses of a business and having the willingness to properly and honestly interrogate them is a must for any business wanting to raise the bar.
Of course, this has to be complemented by a healthy dose of confidence and commitment in terms of pursuing what is right for the organisation. Sometimes this has to be done in the face of adversity. When the future of your brand or sector is at risk, or when team morale is low as a result of impending change, the key objective for any leader is to keep everyone moving forward towards to common goal of business success.
In short, we agree with Neil Gordon. For the oil and gas sector, the latest bump in the ocean shouldn’t be a call to batten down the hatches, but rather an opportunity to interrogate what transformation needs to happen in order to facilitate growth again. Here’s to all the strong business leaders out there who hear that cry for action!
Written by Emma Stewart – Sales & Marketing Director at Cofficient
Cofficient likes to help forward thinking businesses with strong leaders, find ways to transform the way they operate by adopting new technologies which deliver major efficiencies. To find out how we can help you transform your business please get in touch with us.