The oil and gas industry has undergone numerous changes in the past seven years.
The Role of Flexibility in Oil and Gas Workforce
Prices crashed in 2014 and the globe pandemic interrupted supply, but the industry sees much to be optimistic about today. Prices continue to rise as operating costs decrease, and more workers are needed in the field.
With changes seen in the global workforce, employers must accommodate workers in ways they didn’t in the past. Furthermore, digitization has changed the way workers in the gas and oil industry are hired.
Contract workers have become more popular, and employers must recognize this. An oil and gas recruiter denver can be of help in attracting top workers. However, both the employer and recruiter must consider the following factors during the hiring process.
The Global Pandemic and Other Events
The recent Global Energy Talent Index highlights the uncertainty many workers in the field feel when it comes to their career progression. However, the reports also found some positive things workers in the oil and gas industry see. The following serve as some highlights from this report.
Join Our Small Business Community
Get the latest news, resources and tips to help you and your small business succeed.
Job security remains a concern for 78 percent of workers in the industry, more so than a year ago. Nevertheless, 64 percent of workers in the industry expect growth in the sector over the next three years. They say this even though 42 percent of professionals state there has been a contraction in the sector over the past year.
More than half of gas and oil industry workers believe their employers are resilient and will adapt to the changes easily. Two-thirds believe there will be more opportunities in the coming years. Thanks to engineering advances, and 89 percent state they would relocate to another region for their job.
They feel career progression opportunities will remain the main factor when it comes to attracting talent. For those who remain open to moving to a new sector, renewables and petrochemicals serve as the major sources of competition.
Fluctuations in the Market
Fluctuations in the market impact the oil and gas industry. By the end of 2014, the price of oil declined by 60 percent, which affected manufacturers in the UK and the North Sea industry.
This decline led to the loss of many permanent positions. When the market saw an upswing, there was a renewed interest in contracting.
Organizations must balance resources while weighing the fluctuating market to determine how many workers they can take on. They worry about taking on permanent staff, knowing a downturn could occur at any time.
This has led to an increase in contracting and other flexible ways of hiring.
The Digital Revolution
Today, companies work smarter. They were benefiting from the digital revolution prior to the global pandemic, which escalated the timeline for change.
The oil and gas industry must embrace new technology such as intelligent pressure sensors offered by MicroSensor to keep up with changes in the world. In the future, the industry will employ more machine learning specialists, software engineers, and data scientists, and nobody can predict what additional changes will be seen in the coming years.
As the industry changes, the workforce must change as well.
Technology brings people closer together. This has led to new opportunities for workers. It allows for more flexible work styles and an environment that makes it easy to hire contractors.
How to Adapt
Oil and gas companies need to take charge of how they will adapt in the future to meet the needs of a changing workforce. They must keep an open mind and use technology to increase flexibility.
Contractors appear to be the wave of the future, and every industry needs to be prepared. The oil and gas sector is no exception.
Some other articles you might find of interest:
Would you like to better understand how to drive and increase traffic to your startup website?
Do you have what it takes to start and run an online business?