This fall, 36 oil and gas companies, representing between 63,000 and 83,000 workers from across Canada, were surveyed about the current workforce challenges they are facing in today’s economic climate. Want to know what they had to say? Read on!
Some interesting findings:
- Almost 60% reported they were currently reducing their workforce
- Almost 50% expected further layoffs and/or project cuts in the next six months if oil prices remain low
- Heading into 2016, reducing costs and maintaining or increasing productivity are top of mind for companies
Adding to the workforce challenges ahead, responding companies stated that 50% of staff who are eligible to retire are actually doing so. What does this mean? Inevitably, the industry will be faced with a loss of experience and skills through attrition and that will have repercussions down the road.
It may not be tomorrow, or next month, but our industry is resilient, and oil and gas prices are expected to recover over the next few years.
As energy projects come back on stream and baby boomers continue to retire, the industry will require more workers with specialized skills to work in an increasingly complex oil and gas environment. It is important not to lose sight of the longer-term skills shortages, an issue that dominated boardrooms not even two years ago.
Find out what else companies had to say in the 2015 Industry HR Snapshot infographic.
Want a more in-depth read? Check out Petro Prices to Petro People – Part 3.