PEOPLE | Staff Reporter, Singapore

Over a third of hiring managers in energy sector laid off more than 20% of staff

Employers in North America and Asia made the heaviest staffing cutback.

The global power sector is in a period of rapid change that will pose considerable operational challenges for many years to come. Against this background, new research carried out by Airswift and Energy Jobline reveals various industry trends and insights that could help guide company boards and hiring managers. Key findings about the power sector from the Global Energy Talent Index (GETI) survey reveal that more than half (55%) of power hiring managers said they were currently hiring

Exactly half of hiring managers said they would be hiring between 11 and 20 professionals in the next six months. One in six (17%) were optimistic enough to anticipate hiring 51 to 100 people within a year and the same proportion expect to take on more than 100 new staff within 18 months.

However, just over a third of respondents said they had laid off more than 20% of their workforce in the past year.

Here's more from GETI:

74% of power professionals are interested in working within other energy sectors; the most popular choice was the oil and gas industry as an alternative career. Almost half of professionals (46%) would reduce their salary to move sector.

Key reasons given by employees for moving sectors were better salaries and packages (65%) and better training and progression opportunities (47%). Hiring managers within the power sector may want to consider whether they could target more candidates working in nuclear with 20% of professionals looking to switch to the power sector.

73% of hiring managers said they would look to hire from other sectors.

Hannah Peet managing director at Energy Jobline said “Employers in North America and Asia made the heaviest staffing cutbacks. The US power sector is being challenged by rising costs associated with infrastructure upgrades, grid modernisation and adjusting to changing sources of generation.

“However, the survey’s findings on hiring appetite indicate confidence levels are rising. To ensure the skills shortage isn’t exacerbated hiring managers need to prioritise the retention of industry talent so that vital skills aren’t lost to other energy sectors.“

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