The energy industry companies produce gas, oil, electricity, coal, and renewable energy such as geothermal, solar, wind, and other means of producing power. Society relies on these methods of energy production to maintain a balance of growth and healthy living conditions.
Homes can be heated with gas during the winter. Families can take road trips with their car that runs on gas or electricity. Factories and power plants can operate properly with the help of solar panels, nuclear reactors, and coal.
These power plants and factories are necessary for society because a high rate of industrial development leads to a prosperous economy.
Market Value of Energy Industry
In 2021, the energy industry market value for distributing electricity was 424 billion dollars. The oil and gas companies are set to end 2022 making billions. The role of nuclear power plants in the U.S. is as a worldwide producer of this carbon-free energy source and provides 20 percent of the country’s power.
Furthermore, 80 percent of the country’s energy infrastructure is run by the private sector. An example of an energy company in the private sector is oil and gas recruiter Denver.
These statistics show that the energy industry is a powerful influence over the state of the world’s political affairs and societal progression. Lately, there has been a lack of skilled workers in the industry. This shortage of skilled workers can detract from what could be a flourishing economy. There are a variety of reasons for this phenomenon.
The COVID-19 pandemic caused many companies to cut their staff nearly in half. Another reason is strict immigration laws that prevent a company from scouting other parts of the world for talent. The oil and gas industry is starting to see talent gaps, with the younger generation more concerned about climate change.
Other factors include poor knowledge transfer and skills retention and declining education and training that don’t keep up with new energy production methods. And, a lack of support or resources to help laid-off workers find work intensifies the energy skills shortages. However, with all that being said, there are ways to reverse this shortage of skilled workers.
3 Ways To Overcome Energy Skills Shortages
1. Partnering with Colleges
Partnering with colleges will attract top graduates to work for a particular company by offering apprenticeships and hands-on experience.
An energy business will directly access top candidates and prepare them for the workplace by instilling industry-specific skillsets without having to search for resumes on job boards.
This alternative also makes current staff feel essential by allowing them to further their education and stay with the company.
2. Expanding Training Programs
The techniques used to harness and supply energy are changing along with the principles of the world. Renewable energy is the future, and for an energy-based company to keep up with the times, it has to adapt and allow the entire sector to be more sustainable for generations to come.
Since most utilities are undergoing modernization, the willingness to create training programs that align with more sophisticated technology that works with solar and hydroelectric energy must be in place.
3. Broadening Recruitment Processes
Targeting employees from other industries with transferable skills aids the shortage issue. This option requires having an open mind and seeing the value in taking risks to stay ahead of current trends.
A staff member or engineer who is a specialist in dealing with one type of energy source can use similar techniques to aid another company that handles another kind of power source.
What can help with this is outsourcing recruitment, which means employers hand over talent acquisition to industry professionals in different fields to have a larger, deeper pool of talent.
A shortage of energy staff means a slowdown in energy projects and production. This can have a negative impact on transportation and retail prices. Although this energy shortage gap can hinder the economy, we see ways to take productive action to remedy it. With enough hard work and research, solutions to overcome this shortage gap can be found.
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Author: Sophia Williams