Half of hiring managers in the energy industry plan to hire more oil and gas professionals in the next six months as compared to the first half of the year, according to a semi-annual hiring survey from Rigzone, the leading online resource for oil and gas information, data and talent recruitment. That’s a slight tick down from the start of 2014 when 53 percent of hiring managers said they planned to increase hiring.
While more hiring is on the horizon, the recruitment environment is becoming increasingly challenging for oil and gas companies. Nearly four in 10 (39%) hiring managers said the time to hire has lengthened, primarily due to the inability to find qualified professionals to fill open positions. That’s up from 32 percent who noted longer fill times at the beginning of 2014.
Four in 10 (42%) employers said an improving economic or market environment is leading to the hiring increase. And, candidates are ready to take advantage: more than six in 10 hiring managers said candidates are asking for more money than six months ago and nearly half (48%) of companies said jobs are going unfilled due to an inability to match the compensation requirements for the position with candidates’ expectations.
“Oil and gas professionals today recognize the energy job market is theirs for the taking,” said Paul Caplan, President of Rigzone. “It’s up to companies to offer the right position for the right compensation package or risk losing candidates to firms and industries competing for the same in-demand talent.”
When companies find the right talent for open positions, they act quickly. After a position is budgeted, it takes less than a month to extend an offer to an oil and gas professional, said a third of hiring managers. The issue is more than a quarter (27%) of companies said an increasing number of candidates are rejecting offers, as compared to six months ago.
Adding to the positive news for energy professionals and their colleagues, just 11 percent of companies said layoffs are likely in the next six months.
Nearly half (49%) of hiring managers anticipate more full-time hiring this year as compared to 2013. More than a third (34%) expect a rise in contract hiring, and a quarter foresee hiring more oil and gas professionals who work on a rotational schedule.
About the Survey
From July 7 to 11, 2014, Rigzone surveyed hiring managers and recruiters who primarily recruit for U.S. energy professionals. Covering upstream, midstream, downstream, corporate and college recruiting, 191 responded to the survey, with 22 percent representing companies that have more than 5,000 employees.
Rigzone, a Dice Holdings Inc. service, is a leading online resource for the oil and gas industry delivering content, data, advertising and career services. Dedicated to bringing upstream oil and gas news and data, including in-depth information on exploration, drilling and production markets to organizations tackling the energy challenge, its online community of highly-skilled and experienced energy professionals is unmatched. www.rigzone.com