By June 26, 2015 Read More →

Energy employers not hiring any time soon – survey

Energy employers reducing headcount, postponing bringing on new employees

Global hiring by energy employers has been slashed and industry employment doesn’t look like it will pick up even as oil prices stabilize, according to new data from Rigzone.

energy employers

Oil and gas professionals who are currently employed are expected to stay in their current positions.

Rigzone’s latest global hiring survey shows that oil and gas companies continue to curtail recruitment as a result of ongoing market uncertainty. Over half (51%) of the global oil and gas hiring managers polled said that they have decreased their hiring efforts in the past three months, with an additional 13 per cent saying that they have frozen their recruitment plans completely.

While market trends have begun to show some early positive signs, with the price of oil beginning to rise this quarter, the majority of energy employers remain reluctant to expand their hiring efforts over the next six months, with 65 per cent acknowledging that they have decreased their hiring plans in this timeframe.

In addition, 54 per cent of hiring managers surveyed indicated that they believe job cuts are more likely in the next six months, and 65 per cent said they expect to experience a loss of budget for approved headcount for the year.

Similar to last quarter, energy employers still in the market for talent have quite the advantage, since 81 per cent of the hiring managers surveyed say that the candidate pool has grown in the last three months.

Additionally, 34 per cent of managers surveyed said the “time-to-fill” open positions has shortened over the last three months.

In terms of salary expectations, 70 per cent of global hiring managers polled indicated that candidates are not asking for more compensation as compared to three months ago.

“Despite some early positive signs in market trends, the oil and gas market continues to experience volatility and, as a result, companies remain reluctant to expand their hiring plans,” said Bob Melk, president of Rigzone. “For many companies, potential hiring opportunities have been postponed for the foreseeable future.”

Oil and gas professionals are uncertain about the career prospects available to them due to the decreased availability of employment options in the market. Professionals who are currently employed are expected to stay in their current positions, with nearly 70 per cent of hiring managers surveyed indicating an anticipated decline in voluntary departures over the next six months.

From May 26 to June 4, 2015, Rigzone surveyed hiring managers and recruiters who recruit oil and gas professionals across the globe. Covering upstream, downstream, corporate and college recruiting, 209 responded to the survey, with 23 per cent representing companies which have more than 5,000 employees.

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