Oil and gas industry employers in the UK are facing significant skills shortages according to the Oil & Gas Global Salary Guide, and over 65 percent (68.1%) of employers plan to increase headcount in 2014, exacerbating the already skill-short market, adding pressure to increase salaries to attract candidates, which is based on data from 24,000 respondents.
83 percent of employers predict an upturn in salaries in the coming year as hiring managers vie for top talent, at the same time as further emphasis is put on benefits. The number of employees receiving benefits grew by over seven percent over the last 12 months as employers look to bolster compensation packages with incentivized bonuses or attractive pension plans. UK respondents indicated, 27 percent of employees are offered bonuses, 25 percent pension plans and 19 percent have private health plans as part of their remuneration package.
Although in 2013 salaries flattened for the first time in three years employers’ confidence in the market is high as 72 percent of hiring managers have a positive or very positive outlook on the oil and gas industry.