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News & Field Trips

10 Posts authored by: Savannah Turner

The 2019 KPMG Future of HR Survey asked 1,200 international HR leaders to define the HR function for success in the 21st century.

The KPMG Global Energy Institute is pleased to announce that we can now offer the survey results with a specific focus on the energy sector. The Oil & Gas report can be downloaded here, while the report for Power & Utilities is available here.

Oil & Gas sector findings

Oil & Gas HR executives are confident about the strategic value and performance of the HR function and believe that the HR function is seen as a core value driver by senior leadership, but there is a disconnect between expectations and actions in many areas.

Key findings include:

 

 

Although the need for workforce transformation is generally accepted among Oil & Gas HR executives, with wide recognition of the need to transform workforce skills (86 percent) and how the HR function operates (92 percent), fewer than half are very confident in HR’s ability to transform.

67 percent of respondents in the Oil & Gas industry agree or slightly agree that their organization has initiated or recently completed a digital transformation of the HR function, however only 40 percent have a digital work plan in place.

Nearly all (95 percent) of Oil & Gas HR executives feel that artificial intelligence (AI) and/or machine learning can drive significant value for HR, yet only 54 percent of HR functions have begun to introduce AI.

 

Please click here to read more.

 

Power & Utilities sector findings

Power & Utilities HR executives feel that HR is valued by senior leadership. They also feel that HR functions related to employee learning & reskilling and attracting employees bring the most benefit to their organizations.

Key findings include:

 

 

A majority (72 percent) of Power & Utilities HR executives recognize that their workforce will need to be transformed, yet only 31 percent are very confident that HR can lead that transformation.

Technology investments have prioritized people management and performance management.

A majority (63 percent) of Power & Utilities HR executives believe that artificial intelligence (AI) and/or machine learning (ML) can drive significant value for HR, yet only 41 percent have started to introduce AI. They also believe that their primary role in preparing the workforce for AI is in change management and training.

 

Please click here to read more.

KPMG Energy LinkedIn showcase page

KPMG’s Energy LinkedIn showcase page is designed specifically for those interested in the energy industry. As part of our online energy community, you’ll be able to read today’s most important topics, access content affecting your industry or organization, share your perspectives on critical business topics and industry issues, post comments and more. Visit kpmg.com/linkedinenergy or click here  to follow.

The Harvey Nash/KPMG CIO Survey is the largest IT leadership study in the world, with almost 4,000 respondents across 84 countries.

We are pleased to announce that we can now offer our survey results with a specific lens on the energy sector. The Power & Utilities report can be downloaded here, while the Oil & Gas report can be downloaded here. In both surveys, we examine key topics, and highlight several areas where this industry’s responses differed significantly from those across all industries.

 

Oil & Gas sector findings

Oil & Gas CIOs have embraced the digital revolution and are currently exploring multiple ways to digitize their operations.

Key findings include:

 

 

Of next-generation technologies, Oil & Gas companies are most likely to have invested in the Internet of Things and robotic process automation.

Oil & Gas companies view having an innovative, experimental culture as a critical component of the success of their digital strategies, with 87 percent viewing it as very or quite important.

The transition to digital remains a challenge for Oil & Gas companies and CIOs and the industry could benefit from more aggressive digital strategies. To achieve this, companies should further invest to pilot and deploy digital solutions.

 

Please click here to read more.

 

Power & Utilities

Power & Utilities CIOs look to digital technologies to improve business process efficiencies as their top priority followed by enhancing the customer experience.

Key findings include:

 

 

Power & Utilities are placing a higher priority on improving cyber security.

Power & Utilities companies have invested more heavily in the Internet of Things than any other industry.

Next step is to find new and innovative ways to create insight from this data to create micro offers and enhance the customer experience which is an area of opportunity for them.

 

Please click here to read more.

 

KPMG Energy LinkedIn showcase page

KPMG’s Energy LinkedIn showcase page is designed specifically for those interested in the energy industry. As part of our online energy community, you’ll be able to read today’s most important topics, access content affecting your industry or organization, share your perspectives on critical business topics and industry issues, post comments and more. Visit kpmg.com/linkedinenergy or click here to follow. .

 

Sector view: Oil & Gas 2018 Global KPMG CEO Outlook

 

We are pleased to announce the launch of the 2018 Global KPMG CEO Outlook Survey with a specific lens on the Energy sector which reflects the outlooks and positions of senior industry executives in the Oil & Gas (O&G) sector. The O&G report can be downloaded here. In the survey, we examine the ongoing growth trends, emerging strategies, as well as some of the risks and challenges facing CEOs.

 

Oil & Gas Outlook

Despite the rapid speed of technology and innovation pressuring the industry, oil and gas CEOs see technological disruption as more of an opportunity than a threat but acknowledge that more work is to be done. Eighty-five percent of oil and gas CEOs report they’re piloting AI or have already implemented AI for some processes. However, only 59 percent feel their organization is an active disruptor in their own sector, and 57 percent feel that the lead times to achieve significant progress on transformation can be overwhelming. Please click here to read more.

KPMG Energy LinkedIn showcase page

KPMG’s Energy LinkedIn showcase page is designed specifically for those interested in the energy industry. As part of our online energy community, you’ll be able to read today’s most important topics, access content affecting your industry or organization, share your perspectives on critical business topics and industry issues, post comments and more. Visit kpmg.com/linkedinenergy or click here to follow now.

 

Follow the KPMG Energy LinkedIn showcase page now!

Are you interested in the energy industry?

The KPMG Global Energy Institute would like to introduce the new KPMG Energy LinkedIn showcase page, a page dedicated to those interested in the energy industry.

Why follow the page:

KPMG’s Energy showcase provides content and information that addresses the most pressing global energy issues. Our energy footprint will include topics relating to renewables, oil & gas, power & utilities, infrastructure, deal advisory and sustainability.

 

What you need to do:

We need you to follow the page and most importantly, we need your engagement! Like, share and comment on the posts to engage with our audience.

The need to limit climate change requires radical action

The oil industry’s role in the transition to a low carbon economy is critical

The move to a low carbon economy raises some difficult challenges for oil and gas executives as they anticipate and position themselves in the energy industry of the future. That’s why we asked Beth Mitchell, specialist analyst for oil and gas sector, to assess the risks, challenges and opportunities for the oil and gas industry when facing the energy transition. It will be the first of a series of articles and videos on the topic, answering the questions on the minds of all energy executives.

The global economy needs to be more transparent about how they plan to change their operations as part of the global shift to a low-carbon economy in order to keep global warming below 2 degrees. The oil and gas industry will play a huge role in that transition.

To read the full publication click here.

 

KPMG Energy LinkedIn showcase page

KPMG’s Energy LinkedIn showcase page is designed specifically for those interested in the energy industry. As part of our online energy community, you’ll be able to read today’s most important topics, access content affecting your industry or organization, share your perspectives on critical business topics and industry issues, post comments and more. Click here to follow now.

KPMG Global Energy Institute

To register for KPMG’s Global Energy Institute enabling you to automatically receive future publications, as well as invitations to upcoming industry webcasts, please click here.

 

We are pleased to announce the upcoming REACTION 26 webcast taking place on 2 October 2018. Register now.

Getting up to speed on the new mobility

The automotive industry is speeding toward a new era marked by electric-powered vehicles, autonomous vehicles and shared mobility. Even as global sales tick downward,1 individual vehicles will be used more intensively, spending less time parked and more time on the road, transporting people and goods in a growing number of ways. For automotive chemical companies in particular, the new mobility will mean a dramatic shift in product portfolios, clients, end users and business models to address an industry ecosystem that’s becoming larger, more dynamic and far more interconnected.

Join Charlie Simpson, Partner and Head of Mobility 2030, Global Strategy Group, KPMG in the UK and Christoph Domke, Director of Mobility 2030, Global Strategy Group, KPMG in the UK, who will be discussing these issues. To read Charlie and Christoph’s article, please click here and REACTION 26 Magazine can be read here.

Participants are eligible to earn one CPE credit for this audio webcast.

After registering for this webcast, via the links above, you will receive details on how to access the webcast. The webcast will last approximately 60 minutes including a question and answer period.

Not a member of the KPMG Global Chemicals Institute? Register today! You will receive upcoming webcast information and further insights from KPMG’s Global Chemicals Institute.

The KPMG Global Chemicals Institute is pleased to announce the launch of the twenty-sixth edition of REACTION Magazine, KPMG’s signature publication for the chemicals and performance technologies industry, which you can download here.

This edition takes a look at getting up to speed on the new mobility, provides an update on Brexit and investigates new deals for Japanese chemical companies.

 

Getting up to speed on the new mobility

The automotive industry is speeding toward a new era marked by electric-powered vehicles, autonomous vehicles and shared mobility. Even as global sales tick downward,1 individual vehicles will be used more intensively, spending less time parked and more time on the road, transporting people and goods in a growing number of ways. For automotive chemical companies in particular, the new mobility will mean a dramatic shift in product portfolios, clients, end users and business models to address an industry ecosystem that’s becoming larger, more dynamic and far more interconnected. Please click here to read more.

 

Brexit update

The clock is ticking for Brexit. The UK has voted to leave the European Union (EU) on 29 March 2019, and a third of UK-based companies are now actively organizing or planning to move some of their operations out of the country because of regulatory uncertainty and other factors.15 Almost half of these companies are in the chemical industry.16 Certainly the potential disruption caused by Brexit cannot be denied. At the same time, the UK exit from the EU can serve as a catalyst for needed change in the chemical industry, impelling companies to introduce new efficiencies, renegotiate contracts and question long-held assumptions about the best way to do business in today’s global economy. Please click here to read more.

 

New deals for Japanese chemical companies

Japanese chemical companies showed strong performance in 2017, driven by export growth focused on technologically advanced materials.21 It is also recognized that strong performance was driven by temporary high utilization of facilities caused by a global shortage of petrochemical products.

However, the nation’s chemical industry faces serious challenges ahead, from low-growth domestic markets to increased competition in ethylene and ethylene derivatives from North America and the Middle East. In response, a growing number of Japanese chemical companies are undertaking overseas expansions or acquisitions. Looking to the future, the Japanese players might consider European chemical companies as a model for transitioning to a more consolidated industry focused on specialty products. Please click here to read more.

To learn more about KPMG’s Global Chemicals Institute, please visit kpmg.com/chemicals and to subscribe for future editions of REACTION Magazine, please click here.

*Sources can be found on kpmg.com/reaction

Registration is now open!

We are pleased to announce that the 8th Annual KPMG Global Power & Utilities Conference is now open for registration! This year the conference will again take place in beautiful Brussels, Belgium on 14 November 2018 at the Steigenberger Wiltcher's. We would also like to invite you to the pre-conference complimentary dinner being held on the evening of 13 November 2018. Once your registration is complete a conference representative will reach out to confirm your attendance to the dinner.

The conference is designed for energy executives, investors and luminaries to share ideas and gain insights on the current issues and emerging challenges that are expected to impact the industry in the coming year. A full day interactive program is being designed providing you with access to industry experts, networking opportunities, interactive sessions, knowledge sharing and market insights. This year’s conference is shaping up to be a great opportunity to drive industry collaboration!

Conference keynote:

Please join in welcoming Isabel Aguilera, Former President of General Electric, Spain and Portugal; Former Managing Director of Google, Spain and Portugal to the conference stage as a keynote speaker.

Isabel will address competitive leadership skills and building unique business models. Isabel will share effective tips, tricks and stories drawn from her experience. We hope her keynote address will support energy colleagues in being more responsive to changing conditions.

Conference topics include:

Energy transition – removing the barriers to decarbonization

Disruptive energy technology

Driving convergence – P&U implications in an electrified transport era

Future focused data analytics

Accelerating sustainable energy innovation

Future power markets.

Registration information

Register now to join fellow energy executives to discuss the future of the industry. NOTE: As a guest/client of KPMG, you will not be subject to a registration fee but are required to pay for any travel/accommodation expenses. When booking hotel reservations you will be provided with a preferred conference rate. Room rates at the Steigenberger Wiltcher's will be EUR€229/night, including breakfast from 11 November to 15 November 2018. Any hotel rooms outside these dates will be subject to market price.

Please book travel and hotel accommodation accordingly.

In case of any questions, please feel free to contact energy@kpmg.com or go to www.kpmg.com/powerconference to learn more about this year’s conference. For information on last year’s conference view the 2017 conference summary page.

 

KPMG Global Energy Institute

To register for KPMG's Global Energy Institute enabling you to automatically receive future content, as well as invitations to upcoming industry webcasts and events, please click here.

We look forward to welcoming you at this year’s conference!

 

KPMG in collaboration with the World Economic Forum (WEF) is pleased to announce the launch of a white paper titled: Accelerating Sustainable Energy Innovation.

Energy consumption and production activities account for two-thirds of global greenhouse gas emissions. As such, the energy sector offers the greatest potential for climate change mitigation and for future growth and prosperity. Meeting the climate change challenge in a faster time frame requires innovation breakthrough across multiple energy technology areas.

The Accelerating Sustainable Energy Innovation white paper identifies the need for a systemic approach for energy innovation as well as the global catalysts across various stages and technologies. This white paper proposes several bold ideas targeting regulatory frameworks and financial mechanisms that have the potential of achieving a step change in the pace of sustainable energy innovation designed to inspire decision-makers and spark discussions about future actions required.

Click here to read more about the bold ideas identified in the white paper which can better prepare you to engage in conversations about the future of sustainable energy including the topics below:

 

 

Climate change and the need to accelerate sustainable energy innovation.

Defining the energy innovation system.

Making the difference: Aligning catalysts for accelerating energy innovation.

Opportunities for step-changes to accelerate sustainable energy innovation.

Background

KPMG in collaboration with the World Economic Forum has developed the Accelerating Sustainable Energy Innovation white paper to identify and promote actions that the global community can take to accelerate the pace of innovation in sustainable energy and, in parallel, serve as a platform for public/private collaboration among stakeholders from business, government, civil society and selected innovation alliances who share a vision for a sustainable future.

As part of the World Economic Forum’s System Initiative on Shaping the Future of Energy, this white paper is based on preliminary insights gathered from more than 30 interviews with World Economic Forum constituents, backed by additional research and input from a variety of sources.

 

KPMG Global Energy Institute (GEI)

To register for KPMG's Global Energy Institute enabling you to automatically receive future content, as well as invitations to upcoming industry webcasts, please contact us at energy@kpmg.com.

 

KPMG Global Chemicals Institute is pleased to announce the launch of the twenty-fifth edition of REACTION Magazine, KPMG’s signature publication for the chemicals and performance technologies industry, which you can download here.

 

This edition takes a look at the progress chemical companies have made to close the gender gap, explores the growth of the Indian chemicals market and investigates the consolidation of the paints and coatings sector.

 

Chemical companies find new opportunities with gender equality

Research has proven that companies with better gender balance in leadership positions are more successful. Companies in which women make up 15 percent of management are 50 percent more profitable than those with less than 10 percent.7 However, the chemical industry - similar to most other industries - has a long way to go to achieve gender equality. We’re delighted to be joined by a number of senior female leaders from the industry including: Heidi Alderman, Senior Vice President, Intermediates, NA, BASF, Keri Lynn Fleming, Chief Human Resources Officer, Benjamin Moore & Co., Gloria Diana Glang, Vice President, Head of Advanced Surface Solutions, Business Unit Additives, Clariant Plastics & Coatings AG and Regina Mayor, Global Sector Head of Energy & Natural Resources, KPMG in the US to discuss what can be done to improve gender equality in the chemical industry. Please click here to read more.

 

Pro-growth environment pays off for Indian chemical companies

India is steadily moving up the ranks as a global economic power and a business magnet for investment. Key drivers for success in the chemical sector include proximity to strong growth markets, greater ease in doing business, and the continued development of petroleum, chemicals and petrochemical investment regions (PCPIRs). Backed by one of the strongest GDP growth rates in the world, the future looks bright for the Indian chemical industry. Please click here to read more.

 

Paints and coatings players seek more growth through consolidation

Like most of today’s chemical industry, the paints and coatings sector is going through a period of major consolidations to support growth, increase efficiencies and gain greater leverage with suppliers and customers.41 In 2017, Sherwin-Williams, a leading US paint maker, agreed to pay a record US$11.3 billion for its rival Valspar42, and PPG made repeated attempts to acquire AkzoNobel before ending its pursuit.43 More deals are expected in 2018.44 The question is whether consolidation will remain a viable growth strategy for this sector in the face of volatile prices, anti-monopoly laws, nationalistic concerns, and other factors worldwide. Please click here to read more.

To register for KPMG’s Global Chemicals Institute enabling you to automatically receive future editions of Reaction, as well as invitations to upcoming chemical industry Webcasts, please click here.

*Sources can be found on kpmg.com/reaction