Oil and gas businesses need to continue evolving their approach to attracting and recruiting talent to avoid a crisis, shows the latest Global Energy Talent Index report by Airswift.
The report by Airswift, the global workforce solutions provider for the energy, process and infrastructure sectors, and Energy Jobline, the jobsite for the energy and engineering industries, surveyed more than 17,000 energy professionals and hiring managers in 162 countries across five industry sub-sectors: oil and gas, renewables, power, nuclear and petrochemicals.
The results indicated that 48 per cent of oil and gas professionals are concerned about an impending talent emergency.
Additionally, 40 per cent of survey respondents believe the sector to already be in the grips of a crisis, with a further 28 per cent expecting one to hit within the next five years.
However, some market optimism remains according to the survey results. When asked whether they would pursue a career in the sector if they were entering the energy industry now, a large majority of oil and gas professionals said yes. Also, 81 per cent of those aged 25 and under remain enthusiastic about a career in oil and gas.
Janette Marx, chief executive officer at Airswift, says: “In recent years, GETI (Global Energy Talent Index) has proven hugely successful at providing hiring managers with the insights they need to manage the expectations of the energy workforce. This year is no different, as we respond to what they told us was their biggest concern: the energy skills gap.
“And the oil and gas chapter makes for interesting reading. Having cut graduate schemes, apprenticeships and training during the downturn, the sector is playing catch-up. But it’s making good progress. And, most importantly, companies now realise that no matter what happens economically, they need to consistently invest in their talent strategies.”
Separately, the report also enquired about salary and mobility trends, which showed that 41 per cent of non-hiring professionals report an increase in pay over the past 12 months, with 21 per cent citing a raise of more than 5 per cent. Also, 65 per cent of non-hiring professionals anticipate further pay rises in 2019. Hiring managers share their optimism, with 63 per cent expecting to see an increase.
Hannah Peet, Managing Director at Energy Jobline, said: “Competition between sectors remains as fierce as ever, but oil and gas employers are well set to succeed. “Leaders and hiring managers recognise that the world has changed and the desires of young people are different, with only 30 per cent of those aged under 25 believing that higher pay effectively attracts talent. The trick now is to respond by working to provide individuals with more opportunities to grow their careers, travel and work with new technologies.”
Meanwhile, the Middle East region also followed along global trends with 72 per cent of respondents saying they would pursue a career in the oil and gas sector if entering it now, while 94 per cent of participants saying they would move to another region for a job.
Problem solving and leadership were the biggest skills gaps as cited by Middle East respondents – 38 per cent of Middle East professionals believe the skills crisis is already here.
Meanwhile, 40 per cent of Middle East respondents said they would expect salaries to rise by more than 5 per cent in 2019.