The Oil Industry in USA experienced a hiring surge in the late 1970s and early 1980s, followed by an extended period of decline.
Over half of today’s U.S. workforce is eligible for retirement within the next 10 years, often referred to as “the big crew change.”
A 2008 survey by Ernst and Young and Rice University confirmed the extent of the struggle that oil and gas companies have in recruiting, training, and developing a sufficient number of staff:
- Nearly 90% of the senior executives interviewed at 22 top international oil and gas companies called the talent shortage one of the top five issues facing their companies.
- More than half the executives surveyed feel the talent void could hurt corporate growth as a result of an inability to staff projects.
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