Oil and gas employees are loyal to the sector, survey finds

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18th February 2016 15:08 - Oil and Gas

A recent oil and gas survey has revealed that those working within the oil and gas sector are loyal to the industry even though there has been a global downturn. However, the researchers discovered that loyalty to employers is not as strong.Oil and gas employees are loyal to the sector, survey finds

Since the end of 2014, the oil and gas sector has fallen into a crisis, as a result of the collapse of the oil price. As a result, thousands of jobs have been lost worldwide.

The inaugural Talent Insight Index, which was conducted by Petroplan, has uncovered that more than 60 per cent of the survey respondents would be either very likely or extremely likely to recommend a career in the oil and gas industry to their peers. Despite this, the research found that company loyalty is extremely low.

The purpose of the survey was to measure how recent uncertainty and change within the oil and gas sector has impacted the outlook of the world’s workforce.

The 1,500 respondents in the survey included contactors, staff and those actively looking for a job in the oil and gas industry. The respondents were found to be from more than 107 countries and territories all over the world.

Of the 1,500 respondents, approximately 2 in 3 said that they were committed to the oil and gas industry, even though there has been a drop in oil and gas prices and large scale redundancies.

88 per cent of the participants said that they were looking for new job opportunities. Of the respondents who were not looking for a new position, 56 per cent said that they would consider changing jobs if the circumstances were right.

Chief Executive of Petroplan, Andrew Speers, said of the research findings:

“The results show there needs to be a major shift in employer attitudes to retention and talent management.

“Although we have a committed workforce, people are weary of the ups and downs of the sector. Companies have to balance the risks and rewards of job cuts with retaining key people and skills shortages.”

“While it might seem like a strange time to talk about loyalty and talent retention, we must.

“The industry has to take a longer-term view to investing in, retaining and developing its people. It’s the only way that we can slow down the rollercoaster of boom and bust.”

The market research survey also discovered that more than 40 per cent of the participants feel that decision making in their place of work has improved, whereas approximately 1 in 3 feel that there has been more productivity and innovation in the industry.

The survey findings also highlighted a positive view of the future, with more than 50 per cent of the respondents claiming that the sector with recover.

1 in 3 said that they believe the recovery will start to happen in the next two year.

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