Trends In Global Energy Job Market Revealed

A new energy recruitment and employment trends report covers the gas, renewables, nuclear, power and petrochemicals sectors. The Global Energy Talent Index (GETI) takes a detailed look at the talent situation within the energy industry, including information on hiring rates over the past year and into the next 18 months, global mobility and predicted regional ‘energy hot spots’ and the flow of talent between sectors.

Some of the report’s findings, by industry, include:

Oil & Gas

As the oil and gas sector considers what and where next, the GETI) survey examines where the opportunities are, what matters most to employees and employers and most importantly confidence levels in the ‘return to growth scenario’. Key findings include:

  • Young graduates shy away from wanting to be associated with the seemingly older and less eco-friendly oil and gas industry, as opposed to new technologically-driven green sectors.
  • The majority of employees expect sector recovery in the next 12 months; however, hiring managers expect it to take 18 months or more.
  • A robust health plan is the most sought after employee benefit.
  • Employees and employers are at loggerheads about how much brand matters in attracting talent and when managers expect to hire again.

Petrochemicals

The global growth of the petrochemicals sector shows no sign of abating, given the rise of the middle class in developing economies and the corresponding increase in demand for food packaging and mod-cons such as cars and washing machines with their associated petrochemical needs, according to Energy Jobline.

This, however, masks significant regional disparities and a job market recently marked by layoffs wherein some 20% of the industry let almost a third of their workers go over the last 12 months. Against this, the GETI survey reveals:

  • A disconnect between the priorities and preferences of petrochemicals hiring managers and employees.
  • Hiring managers attaching great importance to the need for training, but employees instead focused on somewhat unrealistic salary expectations and location preferences.
  • A lack of planning for knowledge transfer and skills retention.
  • Low levels of hiring, despite continued investment in new projects.

Power

The global power sector is in a period of rapid change that will pose considerable operational challenges for many years to come. Megatrends such as climate change and population growth place unprecedented new pressures on the industry. The outlook is further complicated by the need to upgrade ageing energy infrastructure in many locations and by security of supply concerns, stemming from geopolitical issues. Against this background, the GETI research reveals:

  • A desire for more graduate/apprenticeship schemes amid concern about a skills gap and low level of new entrants.
  • A huge gender imbalance: women account for under 8% of the workforce.
  • Europe has the least optimistic outlook for pay with some workers fearing salaries could even fall.
  • Hiring managers see Asia, the Middle East and North America as key hot spots.

Renewables

Renewable energy generation is growing rapidly across the world, driven by factors including greater cost competitiveness, improved financing and concerns about both energy security and carbon emissions. More than 8.1 million people are employed in renewables worldwide, a 5% annual increase. But despite this global boom, important questions about the industry’s future direction remain, including what matters to employees and where the sector goes next? The GETI survey reveals:

  • Major concern about skills training and knowledge transfer within renewables.
  • Worrying weakness in the anticipated volume of recruitment.
  • Renewables professionals are more concerned with salary and less with brand than what hiring managers believe.
  • Corporate culture is a major factor in company attractiveness.
  • Strong interest in recruiting from other industries to expand thinking.

Nuclear

The nuclear industry is facing some significant human resources challenges, but research indicates that the nuclear sector can still compete for talent. It has an experienced cadre of managers and technicians, but needs to recruit replacement expertise as its existing specialists approach retirement age. The GETI survey reveals:

  • The nuclear industry may have to increase wages to keep its staff, especially in countries where governments want it to expand nuclear initiatives.
  • The nuclear industry has an ageing workforce and needs to recruit new professionals as they retire.
  • It should showcase strong health and retirement benefits packages to attract the new staff it needs.
  • The nuclear industry outside North America has a strong expat component, making it easier to recruit staff from abroad.
  • Professionals anticipate salary increases going forward.

You can download the report at www.GETIreport.com.