The seventh annual Global Energy Talent Index (GETI) examined how the “tectonic shifts” happening in the energy industry have affected the job satisfaction and career aspirations of its employees.
The period of flux in the energy industry, largely caused by the urgent need to become independent from Russian gas, has put energy workers “in the driving seat”, said Janette Marx, CEO at STEM workforce solution provider Airswift, one of the report’s producers.
Alongside the job site Energy Jobline, Airswift surveyed almost 10,000 energy professionals and hiring managers across oil and gas, renewables, power, nuclear and petrochemicals for the report.
The results showed that although 47% of people working in the renewable sector, including solar, expect a >5% pay increase – the most optimistic figure reported in five years – money was not the main driver of job satisfaction.
When asked what has the most positive impact on job satisfaction, the most popular answer for renewable respondents was feeling that they contribute to society at 49%.
To compare, the most popular answer for oil and gas employees at 51% was remuneration.
In line with the job satisfaction figures, 46% of respondents working in the renewable sector personally felt that their role had changed in response to the energy transition and that they now enjoy their roles more.
Feeling that their company had a positive impact on the energy transition is evidently a significant factor for those working in the renewable sector. The report received largely positive company feedback from renewable respondents as 61% felt that their company was doing enough to enable the energy transition and only 18% felt that their company can do more.
Despite the majority of positive responses, retaining talent is still a significant consideration. Although 68% of renewable respondents were satisfied in their current role, only 13% said that they would not consider switching roles.
Furthermore, when asked what energy sector they would most consider moving to, 51% of renewable respondents said oil and gas.
“At a glance, this looks like a significant increase, but the boom-bust nature of oil and gas means that we often see an ebb and flow between sectors. When fossil fuel prices are high, as they have been in 2022, salaries are also positively influenced,” said Marx.
In response to these trends, the report offers a number of attraction and retention suggestions for hiring managers in the energy. These include:
- Fast-track career progression – naming career progressions as the “top driver for departing talent", the report recommends that organisations offer learning and development opportunities to help fast-track employees to a promotion.
- Enhance ESG – give employees the chance to drive decarbonisation efforts, whilst also offering internal shits to green energy divisions.
- Focus on innovation – the report stated that innovations such as green ammonia or AI can be “instrumental” in attracting employees with STEM skills from outside industries.
“It’s an employees’ market – but it’s not all about money,” wrote Marx.
“Cross-sector salary rises and skills shortages are empowering an increasingly idealistic generation to seek jobs that also offer non-financial sources of fulfilment. 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 as well as the money.”
The UK’s solar economy continues to grow at pace, and with it the need for a skilled workforce. Earlier this year, hiring platform Indeed reported a 315% increase in the demand for solar installers over the past three years.
Solar Power Portals’ publisher will host the second UK Solar Summit in London in June this year. Once again, the event will bring together all the leading players in the UK solar sector for two days of networking, presentations, and discussions. Find out more and book your ticket here.