Laking Group observes increase in nationalisation
Laking Group, part of the Phaidon International group, has observed an increased emphasis on the nationalisation of the workforce within oil companies in Malaysia.
“We have noticed this trend especially in Malaysia and India,” states Edmond Wood, principal consultant at Laking Group. “Oil companies in these resource rich areas are becoming more stringent on the talent they hire due to pressures from the government pushing for nationalisation. The aim is to run efficiently without depending on expats.”
The trend has already had knock on effects where large oil companies are searching for local talent a skills shortage has become evident, especially amongst the top tier of talent with extensive experience - those that are available are in high demand.
Locations such as Malaysia and India are incredibly resource rich but lack the skills and experience needed to drive these large projects forward.
Kieran Behan, director at Laking Group said, “This on-going trend will continue as projects at the top level require a certain amount of experience that these emerging nations simply haven’t acquired yet. The local managerial talent is limited and this drives the cost up as competition for these candidates is rife.”
Laking group offers services to clients across 43 countries, from regional offices in London, New York, Singapore and Zurich.