Canadian oil and gas industry optimistic about growth, anxious about skills
shortages and its ability to attract next generation of professionals
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 months.
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
-- 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:
o 38% of employers expect to increase salaries by up to 5%
o 31% of employers expect to increase salaries between 5 - 10%
o 8% of employers expect to increase salaries by more than 10%
o 20% of employers expect to keep salaries at the same level
-- Top three benefits offered to Canadian oil and gas employees:
o 38% receive bonuses
o 33% receive a health plan
o 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 resources sectors.
* 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
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.
Kieran Lawler Media Profile Direct: 416-342-1823 Cell: 416-303-0799
SOURCE: Hays Canada
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CO: Hays Canada
-0- May/14/2013 13:00 GMT
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