Lubricants Hiring Trends 2023
As we look ahead to the year 2023, the downstream oil recruitment specialists at ABN Resource share their predictions for the trends in talent acquisition that will impact the downstream oil job market in the year to come.
1. Internal mobility is on the rise
A volatile lubricants employment market has changed how professionals see career progression. Instead of climbing the ladder, they’re moving inside their present company, reflecting a growing internal mobility tendency. More lubricant companies utilise talent analytics and workforce planning to evaluate whether new positions are needed to future-proof the organisation and which people are a suitable match.
Employers should focus more on the talent development of their present staff to reskill or upskill internal applicants, the topic we extensively covered in our recent Digital Transformation In The Downstream Oil Industry report and Lubricants Talent Report 2022.
Firms need processes and procedures in place to identify prospective high-calibre internal employees, deliver personalised professional development content, and design personalised career paths based on goals and interests. Investing in internal mobility can help firms retain and attract top talent, establish more diverse employee backgrounds, and fill available jobs where skill shortages are.
2. Focus on “long-term relationships”
Great hires who don’t last don’t pay off.
From the hiring process to career development and succession planning, HR and leadership teams should interact closely with employees. By increasing cooperating and communication, a more robust employee lifecycle is achieved. Because you are able to offer meaningful and engaging work, with training and development plans, that are tailored to the requirements of the employee and the company.
3. Communicate the value of your work to an external audience
In order to retain existing talent and attract a more diverse group of future employees, companies should take action to develop an effective external communication strategy.
This should educate and inform people about the value of the work you do, the culture of the company, and its vision and mission. Lubricants play a critical role in keeping the world moving, but it can often be a silent and forgotten cause in the competitive hiring landscape.
This year we found through attending various industry events, everyone is aware of hiring challenges. Will 2023 be the year when people take action on communicating better to external audiences?
4. From work-life balance to work-life integration
Many professionals have long aspired to achieve work-life balance. However, in recent years, remote work has made it even more difficult for some people to tune out the day-to-day demands of the workplace while not on the clock. Many employees have begun to take a different approach, forsaking the usual 9-to-5 timetable in favour of a more flexible schedule.
In 2023, more applicants will opt for organisations that encourage work-life integration, such as the ability to work when it is most convenient to take care of personal commitments. Watching the clock will become less relevant as managers evaluate performance based on employee productivity and output rather than the length of their workday.
5. Skill shortage remains a challenge
As indicated in our Digital Transformation In The Downstream Oil Industry report, skill shortages continue to be a major issue for many organisations operating in the downstream oil industry. The majority of companies have raised salaries to both recruit new talent and keep in-demand existing staff, whilst managing inflationary pressures on costs of living.
Employees expect money to be at the right level for work. The top professionals are searching for organisations that serve a greater purpose and can provide them with work that is both challenging and meaningful, in addition to a defined route for professional advancement.
If you can get these factors in your job offer along with the competitive package, hiring will be much more successful.
6. Hiring in a tough economic climate
As some areas of the world are facing high inflation and economic recession, companies are questioning whether to hire or pause recruitment plans.
As we heard in our November podcast, “people are what get you through” and it would be the last place to cut costs in challenging times. And we also heard at the UEIL Annual Congress 2022 in a talk by Sylvia Kerscher at FoxInsights, times like this are a great time to hire as the talent that may not normally be available now are.
So 2023 is a great time to take advantage of these opportunities and acquire some exceptional talent.
The downstream oil industry is at a truly exciting time of change with a variety of new skills, opportunities, and requirements coming to the jobs market. Employees have a real chance to make a difference in how the future of the industry plays out. Companies will have to create strong talent attraction and talent retention and recruitment supplier partnerships to secure top talent.
ABN Resource specialise in placing top talent in the best companies in the downstream oil market. Speak to one of ABN Resource’s global consultants today about your hiring needs in 2023 & beyond.