Oil and Gas Industry Bemoans Skills Shortages

According to an article on Contractor Calculator, a shortage of contractors with relevant skills in the oil and gas industries has improved contract rates and salaries in the UK. Apparently, almost 70% of employers in the oil and gas sectors plan to increase their overall headcount at some point during the next year, and a rise in average salaries is also expected to take effect.  This demand for professionals with niche capabilities is only expected to see continual increase; the pattern is being observed across the globe, so it’s not only the UK where such opportunities can be found.

The fact is that, against an otherwise positive backdrop, the major concern for most oil and gas employers is clearly a shortage of skilled individuals to fill their current vacancies. The government is actively in the process of amending immigration restrictions to assuage this skills gap, and is also endeavouring to remove obstacles that are currently preventing non-British engineers from working within the UK. The outlook for the oil and gas industry is extremely encouraging, and those who choose to ply their trade here can expect to receive a number of benefits for their services.

Many employers in the UK are electing to place more emphasis on retaining key staff, rather than necessarily demanding new talent to come on board. However, oil and gas contractors are in a genuinely privileged position, as 83% of surveyed clients expect that the wage increases for new positions will continue to rise over the next year. Other areas that are struggling to attract employees are the more general fields of science, technology, engineering and mathematics, and these skills shortages are certainly doing wonders when it comes to maintaining, and even enhancing, contractor pay rates.

Evidently, the oil and gas industry is one sector that is crying out for contracting talent. If you are on the lookout for a new position, and possess the relevant transferable expertise, then there definitely hasn’t been a better time to enter these workplaces as a contractor. Furthermore, here at ICS our contractor accountancy and payroll services can assist you every step of the way, ensuring you maximise your take home pay whilst always remaining compliant. Take a look at our contractor calculator to see how much you could be saving.  We specialise in taking the stress out of contracting, allowing you to focus upon what you do best. To receive a personalised, detailed calculation please call our New Business team on 0800 195 3750.