The energy industry is a growing business in today’s world. This industry includes all of the businesses that are involved in the production and sale of energy, including fuel extraction, manufacturing, refining, and distribution. Such notable energy sector companies include Canadian Natural Resources, Chevron Corporation, Sinopec, CMS Energy, and Acea. The total investment in this branch of business in the United States alone reached a total of $350 billion in 2018, according to the International Energy Agency.
In 2019 there were over 6.8 million Americans employed in the energy industry, which added over 120,300 jobs to U.S. employment. In total, this area of the economy outperformed the rest of the U.S. economy in job creation. To be a manager in this industry, there are steps that you should follow to ensure your continued managerial success. Here are a few tips for those managers who are new to the energy industry.
1. Keep up with the latest technological trends.
Technological changes in the energy industry go through constant flux. As a manager, it helps to stay on top of these changes. For your own sake, and for the sake of your employees, staying abreast of technological trends can keep you moving forward when it comes to your companies place in the industry. Stay on top of those industry changes which are maintaining the highest visibility in your industry.
For example, there are exciting new developments in the realm of Saas (software as a service) platforms that you should know about. You can utilize the latest SaaS platform for energy retailers which are known as Quixotic 360 to give your company a leg up on the competition. This technology allows a user to optimize communication with the distributor in everything related to processing, automating the generation and exchange of XML files in a bidirectional and end-to-end manner. You can also look into emerging technological advancements in the industry such as wind turbines, tidal generators, and solar panels. Having the best insight into such trends can help you maintain a forward-looking approach as a manager.
2. Learn as much as you can about the processes you oversee.
The best manager is one that knows what is going on with the workflow under their purview. In any industry, you don’t want to be the supervisor who doesn’t know what their employees are assigned to do. This makes you the manager look inept, while also letting your employee feel as if their work isn’t being valued. You don’t have to be an expert in the field, but having basic knowledge about the tasks being completed is needed.
Try to commit to ongoing learning as much as possible. Let’s say you have an employee who is utilizing fixed asset tracking software, asset accounting software, asset management software, or fixed asset management software at your company. Try your best to learn about the asset management software and the tasks an asset manager is responsible for, in case your employee might need some direction using the asset management system. Trying to learn as much about various processes under your direction also helps to build your integrity as a manager and lets your employees know they can turn to you for help.
3. Build trust with your employees.
Maintaining the trust of your employees is needed as a manager. You want to assure your employees that they can trust you to have their best interests at heart. This will cause your workers to feel that they are capable of doing the best job possible, with your support. For example, you don’t want to hover over your workers as if you’re doing a constant audit of their work and their work schedules. That’s not maintaining trust.
In order to build such trust, you’ll need to create credibility, be respectful, and make fair decisions with your workers. By following these steps, you can build a trusting relationship with your personnel which can help your company grow in the long run. You don’t want to be one of those types of supervisors which the employees can’t trust. You want your reliability as someone you can trust to grow amongst your workers.
4. Recognize the good work of your employees.
When you recognize your employees, this shows them that their contributions are appreciated. Personal recognition is the number one catalyst for quality employee performance, outranking pay, promotions, inspiring work, or training. This is true for a large company or a small business. Acknowledging the great work of personnel can make sure that they stay motivated to do the best job possible while maintaining the role of the right asset for your company.
5. Provide timely feedback.
When managing employees, it’s best to let your thoughts be known in a timely fashion. If you see something that needs to be addressed when it comes to the work of one of your personnel, it’s good to let it be known upfront. Your goal is to increase efficiency at your workplace. If you let a potential issue sit too long without bringing it up in a timely fashion, then it could make things difficult much later down the line. Deal with whatever the issue is at the beginning, so correct steps can be taken in the future.