Tackling the Skills Shortage in Oil and Gas

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For those recruiting Oil and Gas professionals may be a huge challenge in 2019. A recent survey shows that out of 17,000 professionals, 40% believe that a skills crisis is already here.

As if recruiting isn’t stressful enough, the restricted amount of qualified professionals within the industry and then add retention issues into the mix, the pressure has been mounting in recent months. Should we add compliance too, since working in the UK and Europe has hoops to jump through so it’s no surprise that umbrella payroll companies have been helping to mitigate tax and National Insurance liabilities. Certainly, payroll companies like Futurelink Group offer ways to remove the administration burden as well as assure full compliance at every stage.

So what about the skills gap? When it comes to filling new roles in the energy and maritime sectors, companies will have to traverse through the skills gap to ensure success. Consultants and staffing firms must try new and creative ways to source and attract new talent. But is head hunting the answer to today’s shortfall in staff, or should the government be seeking to train the next generation looking for exciting jobs in the industry?

Why is this important? Partly because of an industry crisis that has been on the horizon for years, known as the “Great Crew Change”. This refers to the large number of older workers who are now reaching retirement age after long careers in oil and gas, and whose decades of knowledge and experience will be lost without new recruits to pass it on to.

The Great Crew Change in numbers:

- A massive 50% of Oil and gas professionals will retire in the next 5-7 years.
- 2 workers retire as 1 new worker joins
- A huge demographic gap in the workforce - Workers tend to be below 35 & above 55.

The present situation, post-2008 crisis especially, looks a lot brighter. As oil prices rise again companies are investing heavily in training and recruitment. A recent survey shows that 81% of millennials would consider the industry if their careers were starting now. The Great Crew Change is happening right now, and talent needs to be recruited today to help secure the possibility of future projects and long-term company growth.

So companies are now having to try new unexplored avenues in finding suitable candidates. Ultimately, the hiring companies want their workers to be paid correctly, on time and compliantly, especially when working abroad. While the Futurelink Group cannot source workers (sorry about that), we can definitely provide suitable payment options while making sure the company is not in harms way.

Within the energy sector, Futurelink Group offers two suitable payment options - GPS Payment Solution and LTD company solution. If you would like to know how Futurelink Group can help you, please get in touch with us on 01923 277900 or email sales@futurelinkgroup.co.uk