Oil and Gas Industry Adjusts to Preferences of Young Recruits
As global demand and high prices continue to stoke the offshore oil and gas market, companies still worry about talent shortages and the looming “great crew change.” According to a new report from Hays Oil and Gas and Gas Job Search, oil and gas professionals saw an 8.5% bump up in salaries in 2012. The report entitled, “Oil and Gas Global Salary Guide 2013,” says the industry’s global average salary is now $87,300. However, many baby boomers in the industry are likely to retire in the next several years, and replacing that wealth of talent will not be easy. In fact, according to a study conducted by the Society of Petroleum Engineers, recruiting and training methods and delivery systems that once worked in the industry are being adjusted in order to compensate for generational preferences. The SPE study found that while older professionals preferred traditional academics, younger recruits prefer online training and mentoring programs. One expert noted that oil and gas companies of all sizes need to boost their investment in formal training and development programs. The University of Houston recently received the Texas Higher Education Coordinating Board’s approval to offer the first subsea engineering graduate program in the United States. The 10-course master’s program is set to begin this fall and was established in collaboration with FMC Technologies, Cameron, GE Oil & Gas and Weatherford. Designed for working engineers, it will be offered in the evening and taught by industry professionals as well as full-time college faculty members.
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