The oil and gas industry is going through a massive revamp due to changing client needs and a declining attrition rate. Hence, new companies might find it challenging to cope. That is especially because of the gap in recruitment processes.
Most hires do not have enough technical expertise to contribute a lot to small businesses. As a result, companies are on their way to insolvency due to poor performance metrics.
In 2022, the cost per oil barrel was USD 79.80. Moreover, the annual revenue of the production and exploration market was valued at USD 5 trillion. Due to this, the industry is facing a surge in job openings. But new or small businesses are not able to find qualified professionals with an excellent understanding of the industry.
You need to ace up your game by understanding the need for talent by offering attractive benefits. Moreover, recruitment companies can help you find the best talent suitable for your enterprise. This blog will discuss these parameters.
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The State of the Oil and Gas Recruitment
Has your business been facing performance issues or a low attrition rate? Then, you are not alone.
There is a talent crunch going on in this industry and it is expected to get worse. In 2021, about 56% of workers stated they would rather work for renewable energy companies. Hence, oil and gas recruiting became a necessity and is set to increase. About 82% of recruits found 10% of job openings unfulfilled.
Moreover, there will be a shortage of skilled workers because baby boomers are set to retire in the next few years. Similarly, the industry is facing regulatory pressure due to climate change and an increase in the use of decarbonized products.
As a result, qualified young talent avoids this industry for ethical reasons. Therefore, small businesses like yours might face difficulty in finding the right talent.
What to Look For in a Candidate?
According to Culver Careers, you need to hire new talent or industry veterans with in-depth technical and service knowledge. They should be informed about innovations. Moreover, look for a candidate who is adaptable and professional.
You need to find candidates with good understanding and problem-solving capabilities. Find someone who is fully dedicated to improving business processes and efficiencies.
You might not have a team of inspiring leaders and top performers if you overlook these basic requirements. Of course, a top-quality hire will increase your company’s performance.
Should You Take Help From Oil and Gas Recruitment Companies?
According to Grist, the employee retention rate has become a massive issue in the oil and gas industry. Some might say that the industry is starved of new talent. That is where an oil and gas recruitment expert comes in.
They will use the best recruitment methods to find candidates who fit the job requirements. For example, recruiters focus on finding efficient personnel to help resolve the recruitment gap in your company. Moreover, oil and gas recruitment experts will connect your company with top performers.
You will find individuals with expert skills and refreshed productivity. These recruitment firms will do all the strenuous work of scanning through applications. As a result, your company only has to interview the candidates without doing the legwork.
These talent acquisition firms are dedicated and understand your hiring requirements in the oil and gas industry. They ensure timely staffing within your company budget.
Usually, the recruiters do all the background research and take care of the legal aspect. You will see immense speed, reliability, quality, and flexibility in their services. They will have a talent pool of oil and gas engineers, specialists, geologists, analysts, executives, and marketers.
You should share detailed job requirements to help the recruitment company headhunt high-performing candidates. This way, you will have employees who will take your oil and gas company toward success.
What Can Your Oil and Gas Company Offer to Attract New Hires?
You can assist the recruitment company by changing a few things in your work culture. For example, offer benefits that the candidates cannot refuse.
You will need traditional engineers and candidates with experience in software, analytics, and marketing. But why will individuals with such capabilities choose your oil and gas company? If you want your company to go through economic development, you need to:
- Diversify your workforce and make it an inclusive environment
- Pledge to change the industry’s norm of talent acquisition
- Offer competitive health benefits and packages for every employee
- Loose hierarchies and offer instant feedback for the employee growth
- Offer a great work-life balance, travel opportunities, and a leave policy
To bring this change to your company, you need to make strategic decisions with proper workplace planning. For example, increase your organizational agility and offer fluid learning experiences to the employees.
Doing so will assist the recruitment companies to find suitable talent without hesitation.
The Bottom Line
The oil and gas industry is evolving and so should your company’s workforce. You need to understand what your company needs to succeed. For example, change a few norms like diversifying the workplace and offering holiday packages to attract better talent.
Oil and gas recruitment can be a challenge. Hence, you can take help from an oil and gas recruitment agency. They will have a wider talent pool to find skilled professionals who can thrive in your company.
Your company will move towards success with the help of oil and gas recruiting services and new employee benefits.
