Foreign skilled talent should become a priority to bridge gaps
TORONTO, May 14, 2013 /CNW/ - Canadian oil and gas companies are being
squeezed by skills shortages and a lack of young professionals entering
the labour force threatening short and long-term growth prospects for
an industry that is otherwise optimistic about its future. According to
a 2013 Oil and Gas Global Salary Guide produced annually by expert recruiters Hays Oil & Gas and leading
jobsite, Oil and Gas Job Search, more than half (54 per cent) of Canadian oil and gas employers cite
"skills shortages" as a significant issue, and yet almost
three-quarters (73 per cent) expect to increase hiring in the next 12
Furthermore, fewer and fewer young Canadian professionals are entering
the oil and gas labour force, a trend that is at odds with the rest of
the world. Only 18 per cent of the current Canadian labour force is under 35 years
old, while that same age group makes up 33 per cent of the world's oil
and gas labour market. Canada has too many older employees - 42 per cent are between 35 and 49
years old, and another 40 per cent are 50 years old and over.
"The Canadian oil and gas industry is watching its talent supply dry
up," said Jim Fearon, Regional Director, Hays Canada. "A high volume of
oil and gas employees are approaching retirement and without attracting
a younger work force and addressing skills shortages this sector is
facing major challenges to meet its growth potential. Having a robust
strategy in place to tap into the global talent pool will be critical
in the short term, and working on strategies to increase the level of
home grown entrants into the industry is going to be vital in the
medium to long term."
There isn't any one company or job type that will be impacted by these
challenges more acutely than others - contractors, operators, oil field
services, project managers, drilling engineers and estimators, it will
affect them all equally.
The good news is that there is a high degree of market optimism in
Canada and compensation packages are competitive. The 2013 Oil and Gas Global Salary Guide found that:
Market optimism: three-quarters (76%) of survey respondents are positive
to very positive in confidence of the current market in Canada.
Local oil and gas professionals working in Canada earn on average
CAD$125,680 per annum*. This just outstrips neighbouring USA at
CAD$124,000 equivalent by a narrow margin. Australia is now leading the
way with an average industry salary of CAD$167,160 per annum.
Over the next 12 months:
38% of employers expect to increase salaries by up to 5%
31% of employers expect to increase salaries between 5 - 10%
8% of employers expect to increase salaries by more than 10%
20% of employers expect to keep salaries at the same level
Top three benefits offered to Canadian oil and gas employees:
38% receive bonuses
33% receive a health plan
25% receive a pension
Hays is an international recruitment consultancy with a strong Canadian
presence with offices in Vancouver, Calgary, Toronto, Mississauga and
Ottawa. Hays has more than 150 specialized consultants offering a broad
range of corporate recruiting expertise, with particular
specializations in serving the oil and gas, Information Technology,
finance and accounting, and construction and property, and mining and
* Salaries are expressed in US Dollars in the Salary Guide. Exchange
rate used in this release is US$1:CAD$1.02.
To download a free copy of the Oil and Gas Global Salary Guide 2013 http://www.hays.com/about-hays/our-markets/oil-gas-salary-guide/index.htm for more information.
About Hays Canada:
Hays Specialist Recruitment Canada is a wholly owned subsidiary of Hays
plc, which has been at the forefront of the global recruitment industry
for over thirty-five years. With annual revenues of over £2.1 billion,
Hays Specialist Recruitment is the largest specialist recruitment
consultancy in the world.
SOURCE: Hays Canada
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