INDUSTRY INTEL

Each month our team will be highlighting current trends that affect the oil, gas and energy sector. We will be interviewing, analyzing and researching to gather facts and data to find out more about our industry. These will be featured on our website in our Industry Intel section and will highlight subjects that are relevant to our market. These articles will include exclusive interviews, technical advancements, innovation initiatives, common struggles in the environment and the changing landscape of oil and gas both locally and globally.

NOVEMBER 2017

CHALLENGES OF RECRUITING AND RETAINING EMPLOYEES IN THE OIL & GAS INDUSTRY

We will be updating our Industry Intel each month so stay tuned for the next article and make sure to follow and like our LinkedIn Page here to stay updated on weekly news and happening in the oil, gas and energy industry.

The sudden drop in the price of oil left Alberta experiencing its worst economic decline in decades. The lowered price created a domino effect changing the landscape of the oil and gas industry including mass layoffs, companies downsizing, divestures of large assets and an influx in skilled workers leaving the Province.

As the price of oil begins to rise and level off many companies are faced with a new reality. Retention, employee satisfaction and recruitment are identified as some of the top challenges in local and international organizations throughout Alberta in this current market. Although the price of oil is marginally increasing there is a need for many companies to remain lean in their operations and offer competitive prices to be strategic in the market. Strong and supportive teams make up a great organization and in this case recruitment and retention are top priorities for many organizations and are also the biggest challenge.