When it comes to recruiting in the ever-changing world of Oil and Gas, understanding the current workforce trends is crucial. In 2024, opinions on the future of the industry differ – some predict a decline in demand, while others see potential for growth through technology and adaptability. The GETI 2022 report revealed an interesting fact: 54% of employees surveyed are considering transitioning to the renewable energy industry. To stay ahead of changes and set yourself up for success, having the right team is key. To stay competitive in the face of industry challenges and changes, companies need to be aware of and adjust to these six important trends when recruiting in Oil and Gas.
Discovering Top Talent in a Shifting Industry is essential for companies looking to thrive amidst industry transitions. The 2022 GETI report sheds light on the workforce’s inclination towards renewable energy, signaling the need for Oil and Gas companies to adapt and attract top talent. Understanding and adjusting to crucial trends in recruiting will be vital for staying competitive and successful in this evolving landscape.
Addressing the Talent Gap: Shortage of Technical Expertise in the Oil and Gas Sector
The oil and gas sector has traditionally relied on highly specialized technical expertise, but there is a growing scarcity of workers with these qualifications. Experts attribute this shortage to factors such as an aging workforce, rapid technological advancements, image concerns, and the unique hurdles associated with recruiting in this industry. Undoubtedly, the demand for oil and gas fluctuates due to changing energy attitudes and global uncertainties like the conflict in Ukraine. This uncertainty has led more companies in the industry to seek technically skilled employees who can offer long-term stability through their adaptability to emerging technologies.
Having appropriate certifications and technical knowledge remains crucial when hiring within the oil and gas field; therefore it is imperative that these aspects remain a top priority even as other “soft skills” and supporting sciences continue developing. Many job descriptions for oil and gas engineers now emphasize these abilities as essential regardless of seniority level; however, this emphasis may come at the expense of still vital technical skills.
Bridging the Generational Gap: Insights into Oil and Gas Workforce Challenges
The oil and gas industry is confronting a significant workforce challenge, highlighted in a recent report by KPMG – an aging demographic. Shockingly, a mere 12% of the global workforce within this sector is currently under 30 years of age, signaling a potential long-term impact on the industry’s vibrancy. Faced with this demographic shift, companies in the oil and gas sector are recognizing the urgent need to attract and retain a fresh wave of talent to ensure sustained competitiveness and relevance.
Diversity and inclusion initiatives have become pivotal strategies for oil and gas companies aiming to create an appealing work environment for the next generation of workers. This strategic shift gains even more significance as traditional talent pipelines undergo transformations. A noteworthy example is the University of Calgary’s decision in 2021 to close its oil and gas engineering program, indicating a broader trend within academic institutions.
Yet, the industry is not just grappling with an aging workforce; it also faces an image problem among young professionals. To address this, companies are seeking external expertise to reshape their appeal. This involves adopting flexible work arrangements and remote options to align with the preferences of a younger, tech-savvy workforce.
Expanding the talent pool globally has emerged as another avenue for companies aiming to address the shortage of younger workers. While this approach presents new opportunities, it also entails considerations, notably the additional cost associated with integrating training programs into the onboarding process for overseas workers. In essence, the multifaceted challenge of addressing the age gap in the oil and gas industry demands a comprehensive and adaptive strategy, from fostering diversity and inclusion to reshaping working practices and reaching out globally for talent. Companies must proactively evolve to secure their position in an industry undergoing profound demographic shifts.
In conclusion, the oil and gas industry is undergoing significant transformations, with workforce trends signaling a shift towards renewable energy. To thrive amidst these changes, companies must adapt to crucial recruiting trends and address challenges such as the shortage of technical expertise and an aging demographic. Embracing diversity and inclusion initiatives while reshaping working practices are essential strategies for attracting top talent in this evolving landscape. Proactively evolving to secure their position will be vital for companies seeking success in this dynamic industry.
If you have any further questions or need additional information on navigating these shifts within the oil and gas sector, feel free to reach out!
