4 key recruitment trends for the power industry to watch out for in 2020
The power industry is preparing for growth in 2020, thanks to global socio-economic expansion and the electrification of heat and transport in response to climate change.
This impending growth will open up exciting opportunities for companies in the power industry, but those opportunities bring with them a set of challenges.
In order to maintain stability over the course of the year, power organisations will need to put long term workforce retention and engagement first, paying close attention to career progression and salaries.
Despite the slower rate of pay rises, employees in the sector remain optimistic, with 71% expecting a salary increase in 2020.
Hiring managers are also optimistic, with 42% expecting a pay increase of more than 5% this year.
The power sector has been known for its stability for a long time, and this is reflected in the salaries of those working in the profession. But with growing pressure on companies to switch from fossil fuel to electric power and renewable energy sources in response to global climate changes, the sector is likely to see a shift in that stability.
Increased electricity consumption in developing countries will also drive change. As a result the power industry is likely to see competition for talent increase, and in turn, increasing salary expectations.
Get a full salary guide for the power industry in the 2020 GETI report.
Asia has overtaken North America as one of the most popular destinations for relocation
A large proportion of power professionals (88%) said that they’d consider relocating to another region for work. Europe and the Middle East are the most popular options respectively, but for the first time since the GETI report was founded, Asia has taken the number three spot.
The power market is thriving in Asia, which in turn is creating more and more opportunities for career progression, a factor that remains an important motivator for relocation.
Asia has overtaken North America as one of the most popular relocation destinations. This could be due to stricter immigration policies in the US. Though the impact of these policies may not be immediate, if professionals are looking elsewhere for career progression, the North American power sector could see a drop in global mobility and increasing competition for local talent.
Employee engagement is high, but power companies should invest in more career progression opportunities to maintain this
Overall, employee engagement is very high within the power sector, with 90% feeling engaged and only 1 in 100 professionals feeling disengaged in the workplace.
However, this positive outlook comes despite more than half of GETI report respondents stating that they feel undervalued at work.
Power professionals cited career progression as one of the most important factors in feeling engaged, but 29% experienced dissatisfaction in this area.
Most power professionals are engaged with their organisations, but with personal development so high on their agenda, companies can’t afford to become complacent.
It’s important to make sure career progression opportunities are made available and clearly highlighted to staff members in order to keep engagement high over the next year.
Power companies should invest in salary and career progression to retain staff
As we’ve seen above, professionals in the power industry are experiencing mixed feelings about whether or not they feel valued.
That said, 41% said they see themselves staying with their current company for the next three years.
For those who would consider leaving their organisation, motivations were mainly centred around money and career progression. 64% said they would be persuaded to stay if they had the opportunity to progress and 62% said they would stay if they were offered a higher salary.
Even those who wouldn’t consider moving said they could be convinced otherwise if they were offered progression opportunities or a salary increase (80% and 60% respectively).
With this in mind, power organisations need to ensure they invest in salary and career progression.
However, maintaining loyalty is also important in retaining talented employees and company culture, enhancing training programmes and fairly rewarding loyal employees can play a huge part in achieving this
Get more insights in the 2020 GETI report
Want to find out more about the biggest 2020 trends in the power sector and wider energy industry? Download the GETI report for all the latest insights.
This post was written by: Jordan Mason, Recruitment Consultant - Offshore Wind & Grid Connection