As we enter a new year, the oil and gas industry is hoping to continue pressing forward after 2017 indicated some positive signs of slow progression in upward oil prices, substantial increases in drilling activity and employment numbers increasing.
In 2017 the oil and gas industry had seen an optimistic turnaround in hiring. According to a report from the recruitment firm NES Global Talent and Oilandgasjobsearch.com, the industry is hiring more than it is letting go for the first time in three years. It is now estimated that 36% of employers are planning to significantly raise their workforce in 2018. NES Global Talent notes that 2018 will be the first year since 2014 in which there will be more new hires in oil and gas than layoffs. This positive turn-around in the workforce is the latest sign of recovery in the industry.
After the 2014 crash, many employees fled the industry and sought new opportunities in other fields. A new problem that is developing in the industry is oilfield service providers and their increased workload. Rig count rose by about 42% in 2017. All service providers have noted the difficulty in finding qualified workers to help reduce the workload on their current employees. That was reflected in an increase in hiring from our oil field and upstream sector clients. The Dahill Group had our busiest year in 2017 with increased placements and a positive return of hiring more seasoned and experienced professionals versus entry level or employees with less than 5 years of experience. Nonetheless, we do see continued concern for the industry in 2018 and whether hiring will pick back up significantly; however, optimism is abounding and we continue our commitment and support to industry and its employees. When others left the industry or moved out of Colorado, we remained entrenched to build our network and provide support to the many, which strengthened our resolve and core expertise in the oil & gas industry.
If I were to have a crystal ball I would say the industry is hopeful for the best, concerned about the long term, but optimistic things will continue to improve in 2018!
– Elizabeth Dahill