The energy sector is on a hiring spree. How your company handles this will determine much of its fate in the years to come.
Oil and gas companies, which are rapidly growing their renewable energy divisions, have been facing a big “workforce crunch,” Reuters reported. In a survey, 82% of recruiters said one in ten open positions remained unfilled for more than three months. Some companies have been paying retirees to come back. And just a week ago, a headline in The Hill warned that “green jobs” are “soaring beyond” the available labor force. The report cited a new LinkedIn finding that at current rates, demand for these jobs will outpace supply each year through at least 2026.
There's also a problematic lack of DEI (diversity, equality and inclusion). Women have been holding steady at only 22% of jobs in oil and gas, and they have less than 30% of jobs in clean energy. The energy sector “has a below-average representation of Hispanic or Latinx workers and Black or African American workers,” according to the latest Diversity in the U.S. Energy Workforce report. Only 8% of energy workers are Black, compared to 12% of the overall national workforce; Hispanics make up 16% of energy jobs and 18% of the overall workforce.
All this damages the bottom line. Lots of research demonstrates that more diverse companies perform much better.
As ALLY Energy explains often, the sector must work together to attract great employees of all backgrounds, including millennials. But there's another crucial step as well: Once you’ve got resumes flocking in, how can you determine who’s the best hire? Who is most likely to be the right fit for the role?
The answer lies in a new service we’ve launched in ALLY 2.0.
ALLY is partnering with Crosschq, a revolutionary DEI analytics platform that's trusted by a long list of household-name brands. Together, we’ll empower energy companies to find the highest quality candidates from a wide variety of backgrounds and create a more productive, satisfied staff.
This technology goes far beyond typical hiring practices. As Crosschq explains, each candidate can share a full 360 profile to provide a “more comprehensive view of what makes them shine. Get ready for better insights, culture matches, and much more. The process is also specifically designed to help weed out bias.
Energy has its own unique needs in seeking out candidates. Through this new partnership, we’ll provide all these benefits in a way that works specifically for your company. In the meantime, if your company hasn’t yet, be sure to join ALLY for Employers and start hiring today.
With all of the major challenges facing energy companies, the last thing you need is an unnecessarily complex hiring process that leads to some bad hires -- and to people leaving the industry. The cost of replacing a single employee can be up to 200% of their annual salary. Using modern technology to get hiring right from the beginning isn’t just a nice idea. It’s essential.
The more top talent we draw into our industry, the greater allies we’ll all be -- building stronger businesses and a stronger future.