A survey by recruitment firm Brunel and Oilandgasjobsearch.com showed the oil & gas industry risks losing its workforce as employees in the sector seek to pivot toward the renewable energy industry. According to the survey, 43% of workers want to exit the energy industry altogether within the next five years. About 56% of surveyed oil & gas workers said they wanted to pursue opportunities in the renewable energy sector, compared to 38.8% in last year’s survey.
Oil & gas companies, ranging from giants such as Shell and BP to smaller exploration firms, laid off tens of thousands of jobs last year as they tightened budgets to respond to the demand collapse caused by the COVID-19 pandemic. Now, as global energy demand and prices rebound strongly, these companies are finding it difficult to recruit again.
At the same time, oil & gas firms are under pressure from investors, governments, and customers to fight climate change, making them less attractive to young professionals, the report said. It also noted that the renewables and mining sectors are offering higher salaries, making them more appealing.
The survey also showed that 10% of companies have had to pay retirees to return to take vacant jobs due to the skills shortage. About 82% of recruiters said that one in ten of their open positions has been unfilled for more than three months.
