Decrease In Hiring Plans By Oil And Gas Companies
The survey reveals that more than 51% of hiring managers in the oil and gas industry have decreased hiring over the past three months. This shows that oil and gas companies are struggling to maintain profits, given the difficult conditions.
Candidates who are looking for US oil rig jobs will find the going tough as there are fewer opportunities available. The competition to land oil and gas jobs will intensify in the coming months, with only the best of the lot getting selected.
Barbara Vergetis Lundin said in a recent article:
“In fact, more than half (51 percent) of the global oil and gas hiring managers surveyed said that they have decreased their hiring efforts in the past three months. An additional 13 percent said they have frozen their recruitment plans completely.”
Companies Scouting For Talent Have An Advantage
On the other end of the spectrum, oil and gas companies that continue to scout for talent have an advantage. They can get the most skilled candidates, due to the large talent pool that is available at the moment.
Candidates are looking for job security and are not looking for more compensation from oil and gas companies, owing to the volatile conditions in the oil and gas industry.
As reported in a recent news article:
“Similar to last quarter, companies who remain in the market for talent have an advantage, with 81% of the global hiring managers surveyed saying the candidate pool has grown in the last three months. Additionally, 34% said the “time-to-fill” open positions shortened over the last three months. In terms of salary expectations, 70% of global hiring managers polled indicated that candidates are not asking for more compensation as compared to three months ago.”
Hiring plans are decreasing in the oil and gas industry, with many companies adopting cost-cutting strategies to make it through the tough times. However, oil and gas companies can find the best candidates in this situation, with the large talent pool that is unemployed and looking for jobs.