Oil and gas sector will scale back hiring- report
Current market uncertainties have caused employers to remain cautious
The oil and gas industry will see a continued scale-back in hiring due to uncertainties on the market, according to Rigzone’s latest Global Hiring Survey.
Current market conditions have caused global oil and gas professionals to remain cautious in the negotiating process, the survey found.
It also added that more than 55% of global hiring managers reported that they have not seen an increase in the number of candidates asking for more money in the last three months.
However, for companies still in the market for talent, experts analysing the findings suggested that now was the opportune time to look, with 76% of global hiring managers surveyed seeing an increase in the number of candidates applying for positions now as compared to three months ago.
While the global candidate pool is getting larger, companies remain cautious, with many companies continuing to scale back on hiring plans due to ongoing market volatility and low oil prices.
Polling industry hiring managers from across the globe, 47% of survey participants indicated that they reduced their hiring plans in the past three months, while an additional 16% said they had halted their hiring plans completely for the time being.
Given the continued volatility of the market, the majority of oil and gas companies globally have changed their hiring plans in the short and, in some cases, medium term.
Fifty-three percent of global hiring managers surveyed said they had decreased their hiring plans for the next six months as a result of the market environment, with only a fifth (18%) saying that present market conditions actually caused them to increase their hiring plans over this same timeframe.