Rigzone’s Latest Global Hiring Survey Indicates Continued Scale Back in Hiring Due to Market Uncertainty

HOUSTON, Texas, March 23,2015—According to Rigzone’s latest global hiring survey, oil and gas companies are continuing to scale back on their hiring plans due to ongoing market volatility. Polling oil and gas hiring managers from across the globe, nearly half (47%) indicated that they reduced their hiring plans in the past three months, while an additional sixteen percent said they have halted their hiring plans completely for the time being.

Given the continued volatility of the market, a majority of oil and gas companies globally have changed their hiring plans not only for the near-term, but also for the foreseeable future. Fifty-three percent of global hiring managers surveyed indicated that they have decreased their hiring plans for the next six months as a result of the market environment, with less than twenty percent (18%) of hiring managers surveyed saying that present market conditions actually caused them to increase their hiring plans over this same timeframe. No specific industry segment seems to be benefitting more so than others.

For companies still in the market for talent, now is the opportune time to look, with seventy-six percent of global hiring managers surveyed seeing an increase in the number of candidates applying for positions now as compared to three months ago.

Yet, despite a newly expanded candidate pool, companies do not appear quick to snatch up talent, with thirty-four percent of global hiring managers surveyed saying the time-to-fill open positions has lengthened over the last three months, with caution related to uncertainty of the market and a general lack of urgency serving as the primary reasons behind the longer fill times.

“With the current oil and gas market still in a state of ambiguity, companies remain extra cautious about the hiring decisions they are making,” said Bob Melk, President of Rigzone. “For many companies, this even means foregoing potential hiring opportunities that, in a more normalized state, may be pursued more opportunistically.”

Confidence in the market appears to be shaky not only from the perspective of oil and gas companies, but also from a professional perspective, with a majority (62%) of global hiring managers surveyed indicating they believe that layoffs are more likely in the next six months.

Uncertain about the career prospects available to them, professionals are also expected to sit tight, with sixty-two percent of global hiring managers surveyed indicating an anticipated decline in voluntary departures over the next six months.

About the Survey

From February 17, 2015 to March 9, 2015, Rigzone surveyed hiring managers and recruiters who recruit oil and gas professionals across the globe. Covering upstream, downstream, corporate and college recruiting, 679 responded to the survey, with 21% representing companies that have more than 5,000 employees.

About Rigzone

Rigzone, a Dice Holdings Inc. service, is a leading online resource for the oil and gas industry delivering content, data, advertising and career services. Dedicated to bringing upstream oil and gas news and data, including in-depth information on exploration, drilling and production markets to organizations tackling the energy challenge, its online community of highly-skilled and experienced professionals is unmatched. www.rigzone.com

Media Contacts

Courtney Chamberlain
Associate, Public Relations & Investor Relations