Oil and Gas Industry adjusting recruitment strategy as oil prices fall

While the price of gas has increased in the last month, the price of a barrel of oil has dropped considerably over the last year. As you might expect, this has prompted the firing of staff left, right, and center in the oilfield engineering and services industry.

As one of the major executive recruiters for Chemicals & Catalysts for the Oil & Gas Industry, we naturally watch closely the market oil price and the affect it has on overall employment in this sector.

A recent article by industry online site Rigzone.com discussed the recruitment strategy the Oil and Gas Industry is taking to meet challenges brought on by a depressed market. While Key Corporate Services specializes in Downstream Refining, Chemical Manufacturing and Process Technology Catalysts and not necessarily in the actual oilfield, some of the points made in the article are applicable to any job in this sector.

Companies like Baker Hughes, Halliburton Co., and GE Oil and Gas are looking to adjust their recruitment strategy.  They ARE aware of a need to hire new staff to replace a greying workforce.  Some 50% of the world’s 10 million oil and gas workers will be eligible to retire in 2015!  This poses a real human resource challenge.

Consequently, companies in oil and gas are trying to be more circumspect when it comes to recruitment. They are looking for ways to take costs out of their business for a while rather than simply acting in a reactive fashion to the recent fall in oil prices.

Regardless of fluctuating market prices for oil, you can count on Key Corporate Services to utilize our confidential and extensive network to find the most talented Chemicals & Catalysts recruits for the Oil & Gas Industry for commercial executive leadership roles and manufacturing and operations.

From The Key Corporate Services Blog Team