Insights

In this first instalment of a new series of sector-specific reviews, we’re taking a closer look at the talent landscape in the energy sector. Contact us at hello@talentinsightgroup.co.uk to get your copy of the full energy sector talent guide. 

It’s no secret that the energy industry is facing dramatic change. The race to shift reliance from fossil fuels to renewables and meet Net Zero Emissions by 2050 is forcing the industry to move at pace, and this change accelerates the demand for talent in an already competitive landscape.

On the surface, the push for Net Zero plays into renewables and the nuclear sector, which have a clear role to play in a greener future and attractive values for prospective candidates. However, the digitisation of work means the skillset of this workforce is in high demand from outside the sector as well as within. Over a quarter of energy employees said they would leave the energy industry altogether to join a technology firm.

To move towards clean energy and meet climate goals, employment in the renewable energy sector will need to more than triple in just ten years. This increased demand for workers is one of the factors that has created an employee’s market in the energy sector and ever-higher salaries.

However, remuneration isn’t the only factor in a move; candidates also seek a broader sense of purpose and meaning in their work. The desire to contribute to society is among the leading drivers of job satisfaction, and ESG is consistently among the top three reasons for choosing another sector as workers move for the mission.

The race for talent means the oil and gas sector faces a challenge in positioning their offer to appeal to the 62% of Generation Z who find a career in the oil and gas industry unappealing. However, the oil and gas sector is overtaking power as the sector of choice for renewables workers looking for increased remuneration. 87% said they would consider leaving their current position, and 51% said they would move to oil and gas. The biggest driver behind job dissatisfaction is pay (59%), followed by benefits (50%).

Of energy industry employees, those in the Nuclear sector were also the least optimistic about pay increases and had the lowest job satisfaction in the industry. They are also the most sought after, with 83% of employees headhunted in the last year and 19% receiving 11 or more approaches.