As demand increases for energy professionals, supply just can’t keep pace. The industry is scrambling to keep up, but education efforts serve only to bring in new people, not experienced people, so the supply is as many as ten years behind demand.
Toughest to find are candidates with 5-10 years experience. This shortage, combined with an abundance of employees of retirement age, creates a perfect storm of talent shortage in the energy industry.
How Can You Find and Attract Talent?
Incentives. Stock options, sign-on bonuses, generous vacation and personal time, travel and housing stipends are becoming increasingly common for companies trying to attract top candidates.
Relocation. Extend your recruiting efforts outside your immediate area. Regional or even national searches are frequently necessary to attain the level of expertise you need. Expect to pick up the tab for any relocation expenses.
Compensation. Salaries have increased as much as 40% for some specialized, in-demand positions. Keep up with industry rates or lose out on the best people.
College recruitment. Gathering entry-level applicants from high schools and colleges can help you beat competitors to candidates with long-term potential. Be prepared to reimburse them for continued education.
Promote from within. Identify people with potential early in their employment. Offer training and education to make the most of their abilities. Cross train them to uncover areas where they may excel.
Build pipelines of critical talent. Many positions are in constant demand. You know as an employer that every time you hire a candidate for a position, you will soon need another and another – either because of growth or attrition.
Additional Smart Strategies for Energy Employers.
Don’t lose candidates during the recruitment process. They are likely speaking to multiple potential employers. If you drag out your interview process or expect applicants to jump through too many hoops, they will accept offers from other companies.
Improve your retention rates. While you are looking to poach employees from your competitors, they are looking to do the same to you. Provide your employees with clear promotion paths, cross-training and job rotation to build transferrable skills and increase their value to the company.
Finding, attracting and keeping top talent is about having the right strategy and the right partner. A recruiter that specializes in the oil and gas industry can help you to streamline the recruiting process and reduce time to hire. For more tips on finding the best talent, contact FootBridge Energy Services. Our experienced recruiters specialize in placing top talent in the energy industry. Contact us today to learn more about our recruiting services!