A new report by maritime research specialist Thetius, with insights and analysis of anonymised data from Ocean Technologies Group  has highlighted that having a robust Human Capital Management strategy in place is vital to attract and retain the talent the industry needs.

HCM goes beyond traditional crewing or HR approaches to workforce management. It is a long-term, strategic, and data-based approach to managing both seafarers and shore-based personnel to deliver sustained business success.

The report explores the challenges of recruiting, onboarding, training, and retaining seafarers and shoreside staff today. It also examines why it is becoming increasingly harder to bring talented people into the industry and provide them with the right support to enable their development and progression, and the challenges of keeping the best people ashore and at sea.

The report then goes on to assess the role of HCM and how an effective strategy, and through the implementation of the right systems, it can reduce recruitment costs, improve performance, and offer the best possible return on investment in training and development.

“Shipping is a people-orientated industry; skilled maritime professionals, both ashore and onboard, keep the world moving. We see time and again that companies taking a holistic approach to managing their workforce, and those that value and recognise excellence are the ones that excel. A good HCM system will enable a company to connect the dots, but it needs to be supported with a well-defined company culture, a data-driven approach to recruitment and onboarding, and a commitment to supporting people to achieve their potential,” said Thomas Zanzinger, CEO for OTG.

“Everyone broadly agrees that ship operators need to view their people as an investment rather than a cost, but that is easier said than done. HCM is about giving leaders the tools to be able to justify those investments through a data-driven approach to recruitment, onboarding, training, performance, and retention. This report shows that if ship operators employ a human capital management approach as a core part of their strategy, they will retain talent, improve operational efficiencies and future-proof their business,” added Thetius founder Nick Chubb.