India is the third-largest energy consumer in the world after the US and China. To compete with global competition and maintain a conducive business environment, the government is spending a massive investment of USD 118 billion in the oil and gas industry in the coming years. USD 58 billion will be invested by 2023 in oil and gas exploration while USD 60 billion will be used in setting up natural gas infrastructure in the next few years to establish itself as the fast-growing economy. Being one of the leading recruitment consultants, Perito has worked with many oil and gas companies across the country to help them find and hire the top talents needed to complete successful projects. And, here is what we found while researching for the hiring challenges oil and gas industries are facing:
- 50% of the technical workforce in oil and gas industries are required to be replaced in the next decade
- 68% of employees in this sector are over the age of 40 years
- 33% of oil and gas employees are expected to retire by 2020
- A Glassdoor survey found that the energy sector has one of the longest interview processes and hiring take
Top Recruitment Challenges of the Oil and Gas Field
Great Crew Change
As we mentioned above, 1/3 of the oil and gas professionals are about to retire in 2020 and more than 65% of employees are over 40 years.
This means a large number of employees are reaching retirement ages. Their knowledge and experience cannot be transferred to new people unless HR recruiters make massive efforts to hire equal or higher number of candidates for the positions that are about to get vacant.
After the 2008 economic crisis, the energy industry was hit hard. Jobs were lost, schemes were shut down, and companies were running in losses. A recent study, however, found that 81% of millennials will now consider jobs in the energy sector if they get job security. The oil and gas industry seems to be rising now with oil prices improving and demand is also increasing. The government is making billion-dollar investments to support and improve the industry. As the Great Crew Change is happening today, recruiters need to be vigilant in hiring the best professionals in a short time to bridge the talent gap.
Like the IT industry, the energy sector is also facing a skills gap. With the advancement in machine learning, artificial intelligence, Internet of Things, and cloud computing, every industry has been able to improve its operations, streamline processes, and automate repetitive tasks. The oil and gas industry is no exception.
The professionals who are working in these industries are not up to date with the latest technologies. Companies are expecting these professionals to learn advanced technologies and their application in the energy sector. This is what creating a skills gap. So, companies need to hire tech-savvy candidates who have the ability to leverage AI, ML, IoT, Big Data, etc. for boosting efficiency and increasing productivity.
Less Number of Women Workers
The oil and gas industry accounts for the lowest share of women workers globally. In India, the situation is worse as it employs only 8% of female workers in the industry. Oil and gas companies need to fill the gender gap. Some experts believe that bring women leaders in the energy sector could minimize the impact of energy works on climate change as women are more concerned about the climate. Women can play as key drivers of innovative solutions. Hiring more women will not only benefit oil and gas companies in frontline operational and engineering roles but will also bring gender equality and diversity. However, companies need to provide better living facilities to women deployed for challenging offshore assignments.
Recruitment consultants who are specialists in the oil and gas industry have a huge database of qualified candidates, both men and women. They can help you hire women from IIT, IIIT, and top engineering and MBA colleges.
The oil industry provides the most lucrative salaries in the world, but it depends on experience levels, and roles. For instance, the starting salaries for employees working in oil rigs can start in the six figures range, which increases with experience. However, today, with growing challenges in lifestyle and inflation, salaries aren’t enough to attract applicants.
Oil rig sites and other offshore assignments often have extreme weather, high temperatures, and dangerous work conditions. Young, dynamic professionals want better hours and living conditions while staying away from their families. Oil and gas companies need to make the work more interesting and safe in order to attract employees who can commit to these jobs.
How Perito can help
Perito has an unparalleled database of contractors and candidates who are experienced in the oil and gas sector. Whether you need to hire new staff for temporary or permanent positions, we take care of your needs. We manage screening, initial interview, onboarding, background checks, drug testing, salary negotiations, relocation, and more. We have in-depth knowledge of oil and gas industry rules, regulations, and labour laws followed in India. That’s why our partners tell us that we are more than just oil and gas recruitment consultants. We are a strategic partner for all your recruitment and hiring needs.
Some of the common jobs we handle:
- Civil Engineering jobs
- Mechanical Engineering jobs
- Electrical Engineering jobs
- Project Management jobs
- Construction jobs
- Piping Engineering jobs
- Process Management jobs
- Safety and health jobs
- Structural engineering jobs
- and more…
We understand that the oil and gas industry is facing uphill challenges but our experienced recruiters are up to those challenges. We can help you keep moving forward with our customized staffing solutions for your oil and gas business. Contact us today to learn how we can help you hire experienced energy professionals in less time and lower cost.