To draw interest and hire talent, companies need to emphasize on experience management, studying the feedback from employees about recruitment, hiring, training, and on-going job experiences
Fremont, CA: The utility industry came into the picture a decade ago during the decline in economic activity and change in market forces. With the on-going industry disruption, there are challenging issues that the utility industry face.
But here are few trends reshaping the utility industry as they tackle these problems.
UTILITY-SCALE ENERGY STORAGE
The U.S utility grid needs a secure storage network to support a growing dependence on sustainable energy resources like solar and wind. The decrease in cost and improved battery technology makes large-scale storage installations a practical option for meeting that need.
The storage network will improve overall grid reliability and reduce carbon footprint, and will also generate revenue growth in the long run. These revenue opportunities can help utilities finance the growing demand for stand-alone storage, renewable generation, and storage.
Decarbonization is a significant growth area for the utility industry and a primary focus for the customers. There will be more utilities mobilizing to create business models that will fund their customers' growing interest in green products and services. Utility customers are now adopting the decarbonization movement as there is an increase in the customers' demand for their utility to be not just a commodity but also to deliver results and advice. Additionally, for this movement to succeed, utilities will need to be better at promoting these -leaning offerings as well.
OPPORTUNITY FOR YOUNGER JOB SEEKERS
An aging workforce and shortage of job opportunities that are appealing to younger workers have left the utility industry with manpower problems. But this could be changed as utility companies' growing involvement in dealing with global issues line up with the causes Millennials and Gen Zs are passionate about.
Utility companies can satisfy the younger job-seeking demographic by presenting job opportunities to work in markets like solar and wind energy, circular and grid modernization, AI, machine learning, blockchain, and other numbers of emerging technologies in their jobs. But companies need their brand message they disseminate to be up to date, while gradually marketing their employment opportunities to make a positive impact on the world while building a career in a fast-paced business. Businesses also need to emphasize on experience management, studying the feedback from employees about recruitment, hiring, training, and on-going job experiences. This feedback needs to be teamed with operational data to understand how to improve the experiences they give to possible and current employees.