A new study released by workforce solutions provider Airswift indicates that energy professionals remain optimistic for the sector’s prospects in spite of the COVID-19 pandemic.
The fifth annual Global Energy Talent Index (GETI), released in partnership with Energy Jobline, has revealed that 67% of the energy workforce believe that the sector has grown over the past year and 77% expect it to grow further over the next three years. Indeed, four-in-ten respondents anticipate “strong growth”.
Energy professionals and hiring managers acknowledge that the pandemic is a potential barrier to growth, with 56% citing it as among the biggest challenges facing the sector.
However, 65% of survey respondents are confident that their firms are resilient to the changes they are facing due to the pandemic.
Advances in engineering techniques and technologies have been identified by three-quarters of respondents as among the most important opportunities facing the sector over the next three years.
In addition, the survey revealed:
- More professionals reported a pay increase (38%) than a decrease (16%) this year. Nonetheless, sector pay was much less buoyant than last year;
- Professionals (63%) and hiring managers (60%) alike are optimistic of a pay increase next year;
- 89% of professionals would consider relocating to another region for their job, with career progression opportunities (47%) by far the most popular factor in attracting respondents to a new location;
- Renewables and oil and gas remain the biggest sources of competition for talent, winning the votes of 56% and 32% of those open to switching sectors, respectively.
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Janette Marx, the CEO of Airswift, said: “There is no denying that this has been a challenging year for the energy industry, and COVID-19-related instability is certainly being felt by the workforce. Yet, power professionals seem confident in their ability to rise to the challenges ahead.
“There is always room for improvement, so it is good to see companies responding to demand from the workforce to invest in automation and digital technologies to build additional resilience into the business. Therefore, professionals should continue to request increased training and mentorship schemes to ensure they are equipped with the different skillsets that the use of such technologies requires.”
Josh Young, Director at Energy Jobline, adds: “Power businesses are fortunate to have a generally happy and optimistic workforce but that doesn’t mean they can be complacent. To fend off competition from renewables, employers should pay special attention to those starting out – making sure they can see a clear career path ahead of them and are excited by the opportunities they’ll have to develop along the way.”
The study is based on a survey of 16,000 energy proffessionals in 166 countries.
Learn more about the report.