Describing the shortage of both skilled and unskilled labor in the oil & gas vertical. We are on the tip of a 20 year labor shortage that is going to get progressively worse. Can you use this to benefit your revenue stream?
Transcript of Session –
Mark: Hey. It’s Mark LaCour. Let’s learn some more about the oil and gas industry.
So, here is something you may not know. Have you ever heard of the great crew change? Believe it or not the oil and gas industry is facing a huge shortage in talent. 50% of the experienced workers are expect to retire this decade and then with the growth of the oil and gas industry, there’s a shortage of those skilled and unskilled workers. In fact, if you ask the oil and gas executives what bother them most, what business issue do they really worry about, 47% says labor shortage. So think about that for a minute.
It doesn’t necessarily mean that only staffing companies can benefit from what’s will happen in the next twenty or thirty years in the oil and gas industry. It’s any company or technology that can actually save labor cost. So let’s say you have a technology that can actually benefit and require less man hours, it’s a great time for you to sell in oil and gas industry. Let’s say you have the ability to recruit and retain top talent, once again, it’s a great time to get plug in the oil and gas industry.
So with all the doom and gloom that you’re seeing about the economy in other parts of the world and even parts here in the US, the oil and gas industry is on a huge upswing and talent is a major contributing factor for their growth or lack of growth therefore. So, it’s just a great time to be in this industry.
Let’s look at little bit of news that kind of backs up what I say.
Bill: There are so many new jobs in the oil and gas industry in America that the educational system that trains those workers can barely keep up with demand. This is a stunning story. Steve Brown live in Wheeling, West Virginia. How much do employees make in this area, Steve?
Steve: If you got a truck driver’s license, a CDL, Bill. It could be $60,000 a year. If you can work on one of those trucking rigs, more than that. And what the natural gas companies are complaining about is that they can’t hire qualified workers fast enough.
Man: Once you get that motion down, you can do it pretty much all day.
Steve: These students are getting ready for work in the hottest job field in West Virginia, natural gas exploration. An industry expanding so rapidly, there is a shortage of skilled workers.
Paul: The folks that are technicians in the field that understand how to troubleshoot, maintain, and fix the various systems are very much in demand.
Steve: This program began with a $5 million federal grant to train workers for entry level jobs. It’s called Shalenet and comprise of twenty community colleges and technical schools in West Virginia, Ohio, Pennsylvania, and New York. It is free to those who qualified.
Linda: It’s an opportunity that they’re giving a lot of people that is unemployed a chance to, you know, get back into the workforce.
Steve: At West Virginia University the Petroleum and Natural Gas Engineering Department produces four times as many graduates as it did a decade ago and some of today’s undergrads are already at work.
Jeremy: Coming up on two years of experience in the field now, so it’s kind of been like a blessing to be able to get my, you know, foot in the door before I even graduated. So, once I do graduate, you know, the door is open just got to walk to it.
Steve: Now, that young man and other folks who will get a four-year degree in Petroleum and Natural Gas Engineering to start their career could make as much as $90,000 a year. Bill.
Bill: The getting is good. Go after it. Thank you, Steve. Steve Brown live in Wheeling, West Virginia.