The third annual Global Energy Talent Index (GETI), the world’s largest energy recruitment and employment trends report, is released today, showing that renewables businesses’ strategic approach to talent investment is paying dividends.
The report by Airswift, the global workforce solutions provider for the energy, process and infrastructure sectors, and Energy Jobline, the world’s leading jobsite for the energy and engineering industries, indicates that renewables remains the most popular destination for talent in other energy sectors who are looking for a change.
Furthermore, there is little regret among those making the plunge. When asked whether they would pursue a career in the sector if they were entering the energy industry now, 78 per cent of renewables professionals said yes, with 85 per cent of those aged 25 and under expressing their enthusiasm.
But renewables companies cannot afford to become complacent. Forty-six per cent of sector professionals are worried about an impending talent emergency in the sector. Indeed, 30 per cent believe the crisis has already hit and a further 29 per cent expect it within the next five years. This concern escalates among the young, with 54 per cent of those aged under 25 expressing worry, against just 40 per cent of those aged 55 or over.
Janette Marx, Chief Executive Officer at Airswift, says “In recent years, GETI has proven hugely successful at providing hiring managers with the insights they need to manage the expectations of the energy workforce. This year is no exception, as we respond to what they told us was their biggest concern: the energy skills gap.
“And the renewables chapter makes for interesting reading. In many ways, the sector has led the way in embracing digitalisation to cultivate a happy workforce and attract talent from other sectors. Yet younger professionals remain very worried about the future. They entered this sector because they wanted to see change and are nervous that they’re not seeing it fast enough.”
In addition to providing much-needed insights into the skills gap, GETI is also the industry’s most comprehensive salary and mobility survey. Key findings within renewables include:
- Remuneration is on the up. Fifty-one per cent of non-hiring professionals report an increase in pay over the past 12 months, with 26 per cent citing a raise of more than 5 per cent
- Sixty-eight per cent of non-hiring professionals anticipate further pay rises in 2019 – ten per cent more than hiring managers, 58 per cent of whom expect to see an increase
- Eighty-eight per cent of professionals would consider relocating to another region for their job, with career progression opportunities the number one factor attracting talent to a region
- Power provides the biggest source of competition for talent, with 48 per cent of those open to switching sectors attracted to the industry, followed by oil and gas on 38 per cent
Hannah Peet, Managing Director at Energy Jobline, says: “Competition between sectors remains as fierce as ever, and renewables companies need to be careful that their successes don’t breed complacency.
“However, hiring managers expect to start paying out a lot more raises next year, perhaps because they see exactly the retention challenge the sector faces. Hopefully, that foresight will be a saving grace because there are a lot of positives for them to build on.”
Airswift and Energy Jobline surveyed more than 17,000 energy professionals and hiring managers in 162 countries across five industry sub-sectors: oil and gas, renewables, power, nuclear and petrochemicals. The report is available to download at http://www.getireport.com/download-report.
