Whether we are studying the worlds largest or most profitable businesses, still today many natural resources organisations are high up the list. However despite playing such a prominent role in the global economy a large number of these companies face significant challenges when it comes to hiring talent. We have explored and explained some of these factors:

Volatile market

The reality is the sector holds interest to a huge audience given it’s supply chain. As a result the performance of the industry will always be highly publicised. Whilst you would be naive to suggest it is not a volatile sector that carries employment risk it would be equally naive to assume other industries don’t carry the same volatility. You only have to mention Financial Services and Retail in this discussion and you can think of some of the most recognisable brands in the world but at the same time it is very easy to remember the massive challenges such sectors have faced. 

Rise of Technology

There is a common perception that the rise of companies such as Apple & Samsung has negatively impacted the Oil and Gas industry. It is true that perhaps when it comes to hiring new and inexperienced talent of a certain nature such companies provide new competition. However it has to be emphasised that the industry fully embraces technology and thrives on innovation within it. In fact the introduction of cloud based technology has been widely publicised as having a significant positive effect on the efficiency and profits of Oil & Gas businesses. Companies in the industry are often at the front of the queue when it comes to adopting new technology which in turn should have a positive effect on the ability to attract and retain talent. 

Environment

Global warming, pollution and destruction of nature are all subjects that are associated with the industry. As the world becomes more aware of environmental issues this puts Oil & Gas in the spotlight, often in a negative manner. However it must be recognised that most organisations have a clear and publicised commitment to sustainability and therefore are determined when it comes to finding environmentally friendly alternatives. Companies are investing incredible amounts of money to this. 

Flexible working

Whether it be flexible or remote there has been a clear shift to encouraging companies to embrace and adapt to the changing times. This sector perhaps hasn’t enjoyed much publicity around such initiatives. We must consider that a large proportion of the workforce are project or engineering focused which requires physical presence in the appropriate location or team based working. Companies in the industry are open to flexible working if it can be facilitated but perhaps a counter argument is that many of their employees get to see the world as a result of the global projects on offer and the travel facilitated with this. 

Employee benefits

In general the global employment market across most sectors has seen a skill shortage and as a result employers have to find a USP that is beyond a competitive salary. The major Oil & gas players have been offering their staff free or subsidised meals, onsite gyms and good pensions for a long time. It is simply a case of other industries perhaps catching up and publicising their offerings. 

To summarise Oil & Gas has it’s challenges and issues to address like most sectors. However it is an industry that not only survives but continues to thrive beyond this. Companies are committed to achieving success in a better for the environment approach that values it’s employees and provides them with the best platform to have an enjoyable and successful career. 

Talascend is helping fill the skill shortage gap with many key companies in the sector across a range of project and engineering focused roles. Should you be interested in talking to us about prospective opportunities please get in touch manchester@talascendint.com