Oil’s Workforce Open to Job Switch as Pay Bumps in Short Supply

At the same time, 82% of oil industry workers would consider switching to another energy-related sector, with renewables being the most popular landing spot, according to the survey of 10,000 workers and hiring managers across 166 countries. It’s the second straight year the survey has reported an increase in workers’ willingness to leave the oil industry.

“This should sound a warning for companies,” Janette Marx, chief executive officer for Airswift, said in the report. “Some companies will need to step up their effort on the retention front.”

The oil industry has struggled to add workers to meet growing demand amid surging crude prices as the global economy recovers from the pandemic. Russia’s invasion of Ukraine has further jolted those efforts. In the U.S., the oil and gas workforce is still 20% below pre-pandemic levels.