Results from a recent survey of executives for oil and gas companies in Canada revealed that their hiring plans for 2015 may be more positive than public perception. Despite the current decline in global oil prices, only 27 percent of top 50 respondents (CEOs from companies included in the 2014 list of Top 50 Performing Oil and Gas Companies) agreed with the statement “we plan to reduce headcount in 2015 given current market conditions,” according to the survey by executive search firm Caldwell Partners.
Interestingly, 40 percent of top 50 respondents agreed that they planned to increase headcount in 2015 despite current market conditions. Other promising results from the survey in regard to hiring plans for the year include:
- 67 percent agree that current market conditions create critical talent acquisition opportunities they will pursue in 2015; 51 percent of other companies (those outside of the top 50) agree
- 53 percent agree the downturn will free up top quality talent that wouldn’t otherwise be available; 67 percent of other companies agree
- 57 percent believe competitors will be less likely to recruit talent in current market conditions; 50 percent of other companies agree
- 49 percent believe senior talent will be less likely to retire given current market conditions; 45 percent of other companies agree
- 67 percent believe market conditions will improve for Canadian oil and gas companies within the next 12 months; 44 percent of other companies agree
- 70 percent agree that current market conditions represent an opportunity for the industry to address critical challenges and will make the Canadian oil and gas industry stronger; 78 percent of other companies agree
After analyzing survey results, it appears that CEOs from the top 50 companies have an optimistic outlook for 2015 hiring plans in the midst of the industry’s downturn, which they may view as an opportunity to round up top talent and increase recruiting efforts.