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How a company takes care of its employees and its attitude towards safety go a long way in attracting and retaining its staff.
Within the next 10 years, more than half the oil and gas workforce will be eligible for retirement. At the same time, the skill shortage continues with less science, technology, engineering and mathematics graduates entering the engineering industry. How will oil and gas companies attract new recruits?
Contrary to what many people might expect, salary is not the main reason why engineers go to work for a company, according to NES Global Talent.
“With several global projects delayed from last year, the challenge of finding quality recruits for specialist roles has become more acute. The role a company brand can play in attracting and retaining key talent is far stronger in than we first envisioned,” said Caitie Thomas, marketing director, NES Global Talent.
Over 800 oil and gas contractors took part in the survey that focused on employer branding -- the package of attributes and benefits that denotes an organization’s reputation as an employer. The majority of the respondents have 20 years+ experience. About 65% were engineers, 14% subsea engineers, 11% managers, and 7% consultants. Of the respondents, 82% have a university degree and 90% have at least one professional qualification. The majority of the sample was from the U.K. and Southeast Asia, but there was significant number from North America too.
NES Global Talent noted that 40% of respondents say the top five international oil companies are the most appealing in the industry in terms of places to work. A more significant factor than rate of pay is how operators are perceived to take care of their employees.
Company reputation ranks as the primary driver of appeal for contractors. Over 40% of the respondents ranked reputation as a key driver of attraction. Teamwork and having a “can-do” attitude as well as honest and good communications skills are listed as the most important soft skills for companies to possess.
The operators approach to safety standards is a key element of the overall company reputation, the company emphasized. As one respondent stated, “It’s a highly hazardous industry, so a company with a good track record of safe working” is important.
“We commissioned the brand tracking survey so we could understand more about what influences contractors’ choice of an operator to help identify ways for them to maximize their employer desirability,” Thomas added.
The most well-known challenge for the oil and gas industry is the significant increase in the world’s energy demands that the oil and gas sector must address with a particularly aging workforce. NES Global Talent knows the problem of finding and retaining talent is serious at the present time, but it will get worse.
More than half of those employees will be eligible for retirement within the next 10 years. As a result, the industry faces monumental talent challenges in the years to come, and companies need to act fast.
The major oil companies had the greatest appeal. There are two critical factors in staff retention. Employees are more easily retained if the culture of an organization is good and if they are handled well by their managers. They also place great store on clear and effective communication. Culture and style of communication, in some instances, come before reward and remuneration as influencing whether they stay,” NES Global Talent noted.
Energy companies must build strong brands to support the need for a unified approach for talent. They must do this on research insights that help them to understand the desires of different cultures, ages and groups. They must deliver on their brand promise, no matter what country they operate in. Planning for future talent needs must be global and encompass all segments of talent, the company emphasized.
Employer branding needs to be far more than recruitment advertising. Communication campaigns must focus on not just specific jobs, but on the company’s overall brand reputation, NES Global Talent continued.
A copy of the full survey findings is available. www.nesglobaltalent.com
Contact the author, Scott Weeden, at firstname.lastname@example.org.