Manpower Identifies "Double Squeeze" Driving Talent Shortages in Energy Industry
MILWAUKEE, May 5, 2014 /PRNewswire/ -- Manpower, the global leader in contingent and permanent recruitment workforce solutions and part of ManpowerGroup (NYSE: MAN), today released the report Strategies to Fuel the Energy Workforce and infographic. According to projections, jobs in the energy industry are expected to nearly double to 3 million by 20201, yet Manpower research shows 72 percent of energy employers say the inability to attract quality candidates will impact North American competitiveness. The report offers a deep-dive into the forces impacting talent shortages in the energy industry, and suggests a framework for creating replicable, sustainable talent solutions.
Manpower found that more than half (58%) of energy employers say they are challenged to find the right talent, and three out of four (74%) think the problem will worsen in the next five years. The reason: a unique "double squeeze" of the energy workforce, fueled by shortages of skilled workers at both entry and senior levels. This double squeeze is being driven by three major factors: an aging workforce, creating a shortage of experienced talent; rapid advances in technology that are changing skill requirements; and limited focus on STEM education, resulting in fewer interested and qualified entry-level job seekers.
Fueling the Talent Pool as Energy Jobs Soar
Energy industry stakeholders need to be proactive in the development of short- and long-term solutions. The key is to prepare a workforce that can propel the industry forward toward its growth potential by maximizing new technologies. According to industry leaders, a key part of the strategy is renewed emphasis on vocational education.
"We need to invest in, promote and properly value career and technical education…and allow it to become a pathway that people generally acknowledge as one with many educational outcomes, including two and four year degrees," said Laura Fisher, senior vice president, Allegheny Conference on Community Development.
The report identifies four talent development priorities that stakeholders should address to realize the energy industry's growth potential:
- Emphasize the value of vocational training
- Market to the future pipeline
- Develop an agile workforce
- Return to STEM basics
"North America has tremendous potential to grow the energy industry to become a leading global exporter of energy," said Jorge Perez, senior vice president, Manpower, North America. "This would translate into significant positive effects on both the economy and employment, but expansion is dependent on developing talent with more complex skill sets to meet the needs of this high-tech industry."
While the shortage of talent in the energy industry is large and urgent, the industry's growth potential is motivation to develop a workforce that can help realize this opportunity.
About ManpowerManpower is the global leader in contingent and permanent recruitment workforce solutions, providing the personal flexibility and agility businesses need with a continuum of staffing solutions. Manpower is part of the ManpowerGroup family of companies, which also includes Experis, ManpowerGroup Solutions and Right Management. More information is available at www.manpower.us.
1IHS Consulting, "National Energy Economic Contributions Report: America's New Energy Future, Volume 1," http://www.ihs.com/info/ecc/a/americas-new-energy-future.aspx