Oil & Gas Industry Faces High Retirement Numbers

Oil and gas companies are having to face an unprecedented numbers of retiring workers, while the amount of suitable replacements are stretching thin. New statistics show that more and more Americans are delaying retirement and pushing the retirement age from 65 to 80. Employers are realizing that senior-level employees hold business-critical knowledge and worse, when they do retire, take tomorrow’s promising ideas. So there isn’t an urgency to push them out but employers are instead enticing them to stay.

Currently, the number of job openings for the North American oil and gas industry exceeds the supply of qualified applicants. Over the next decade, about 62 percent of the industry will have the potential to retire or leave their jobs, the oil & gas industry as a whole is looking to improve its workforce planning, talent acquisition, and retention rate. It will be crucial to be able to find competent recruiters that can fill these spots by sorting through and finding the next generation of leaders.


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