On July 7, 2015 10:15 am
By Rhiannon Myers
Refineries and chemical plants struggling to find enough experienced people to replace a swell of retiring workers are hoping to scoop up some engineers laid off by oil and gas firms.
The global oil slump is striking the upstream sector at a critical moment for downstream companies as they scramble to address a growing problem of a lack of qualified middle-management workers rising through the ranks, according to a new analysis by executive search firm Proco Global.
The glut of trained professions between the ages of 30 and 45 has forced some downstream companies to offer higher-than-average salaries and lucrative benefits packages, according to interviews the firm conducted with executives at some of the world’s largest chemicals companies, including Dow, Monsanto and Air Liquide.
Texas plants tend to have an easier time attracting and retaining talent because the state doesn’t have an income tax, but companies in “less desirable” locations often have to sweeten pay and benefits packages, said Brandon Dyer, Proco Global’s executive consultant who leads North American recruitment across the chemicals and processing industry.
“It’s very hard to pull candidates out of Texas,” Dyer said.