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Canadian oil and gas industry optimistic about growth, anxious about skills shortages and its ability to attract next generation

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
        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:
  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 
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. 
Kieran Lawler Media Profile Direct: 416-342-1823 Cell: 416-303-0799 
Kieran.lawler@mediaprofile.com 
SOURCE: Hays Canada 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/May2013/14/c6625.html 
CO: Hays Canada
ST: Ontario
NI: ECO  
-0- May/14/2013 13:00 GMT
 
 
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