It is perhaps one of the most difficult balances affecting the bottom line that many Oil & Gas leadership teams currently face in the industry which many experts will say has the most volatile war for talent. Qualified professionals who exist for positions are 3:5. We are not talking about open positions that are being recruited for and candidates in the interview pipeline as that ratio spread is even greater. Of the three who exist for the two open roles, it would take well over three who would even be passively looking. In some regions we have seen ratios that are 2:17. With 17 positions/companies vying for those two candidates, the likelihood of attracting them has its obvious challenges. We all know the reasoning for the shortage and it will continue to worsen before it gets better with the number of retirements increasing at a higher rate than the past over the next five years.
Over recent years, many companies in the sector have done an excellent job and have recognized that both recruitment and retention practices need to be improved and these firms have made very good long term decisions to do so. Much of this has been the overall improvement of the HR department and increased levels of interaction with the strategic planning for the business itself. Having this level of interface between administrative and functional leadership has significantly improved both of these areas. The organizations who have properly mapped out succession plans, compensation plans, advanced levels of training and development in comparison to their competitors tend to have the value proposition necessary to even put them in the game.
Founded in 1981, Kaye/Bassman has grown to become the largest single-site executive search and recruitment firm in the United States with the simple mission of impacting companies and enhancing careers by providing the finest in professional, executive, technical and scientific search. Kaye/Bassman provides strategic recruiting and executive search solutions in over 20 industry practice areas including construction recruiting, healthcare recruiting, banking executive search, energy recruitment and many more. Next Level Recruiting Training, a recruiting training organization, Next Level Exchange, a recruiting training best practices information exchange, and Next Level Marketing Communications are also Kaye/Bassman companies.
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