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PESGB YPs in the Downturn Member Survey


YPs in the Downturn Survey Participation by Age 18-21 22-25 Age Bracket of Participants

The Young Professionals of the PESGB have spoken …here is what they had to say!

26-29 30-33 34-37 38-41 42-45 50+ 0

5

10

15 No. of Participants

20

25

30

• A total of 81 YPs from E&P, Service and Consultancy Companies participated in the survey.

Why survey our members?

Survey Participation by Age

• Ages of participants range from 22 to 50+ with the majority of participants between 22 and 33 years old, this is reflec membership.

A total of 81 YPs from E&P, Service and Consultancy Companies participated in the survey.

• There are no participants between the ages of 18-21 indicating that A-level graduates are not entering the Oil & Gas I

The PESGB YP Committee conducted a survey to determine how PESGB YPs are being affected by the low commodity price. The survey was developed by the PESGB YP Committee members based on individual experiences and on discussions with YP members at events. Utilising Survey Monkey 17 questions were sent to YP members via PESGB media, LinkedIn, Twitter and Facebook. Responses were collected between June and August 2016. After two months, 81 responses were received and from this data the following graphs were constructed and insights obtained.

Ages of participants range from 22 to 50+ with the majority of participants between 22 and 33 years old, this is reflective of YP membership. There are no participants between the ages of 18-21 indicating that A-level graduates are not entering the Oil & Gas Industry directly.


The majority of YPs have a Postgraduate Education

A postgraduate degree is the standard for the majority of UK-based YPs in the Oil & Gas Industry. This data shows that 84% of respondents have or are studying towards an MSc or PhD qualification. This data is not surprising considering the availability of Petroleum Geoscience courses in the UK at the University of Aberdeen, Imperial College, Royal Holloway, UCL, University of Durham, University of Manchester and University of Derby.

Majority of YPs have a Postgraduate Education 30 25

No. of Respondents

20 Funding for MSc and PhD courses has been supported by industry and government bodies in the past but 15 is increasingly difficult to secure as the downturn 10 continues. However, the PESGB is continuing to fund MSc students throughout the downturn and in the last 5 two years more than £400,000 has been invested in 50 0 students from 12 Universities. 22-25 26-29 30-33 34-37 38-41 42-45 50+ Age Bracket For more information on funding opportunities MSc PhD No postgraduate education contact pesgb@pesgb.org.uk • A postgraduate degree is the standard for the majority of UK based YPs in the Oil & Gas Industry. These data show that 84% of respondents

have or are studying towards an MSc or PhD qualification.

• These data are not surprising considering the availability of Petroleum Geoscience courses in the UK at; the University of Aberdeen, Imperial College, Royal Holloway, UCL, University of Durham, University of Manchester and University of Derby.

participants have undergone YPs are feeling the stress of the All a pay cut or are experiencing pay freeze. However despite prolonged low commodity price areduced pay, many respondents feel that they have increased as company spend is reduced responsibilities. Are Feeling Stresscapital... of the Prolonged Low Commodity Price as to the retain A change in role has been

• Funding for MSc and PhD courses has been supported by industry and government bodies in the past but is increasingly difficult to secure as the downturn continues. However, the PESGB is continuing to fund MSc students throughout the downturn and in the last two years £xxxx has been invested in xx students from xx Universities. For more information on funding opportunities see xxxx (Can Head Office provide details?)

Company Spend is Reduced to Retain Capital Qs. How have you been affected by the low commodity price? Select all that apply.

Percentage of Age Bracket affected

100%

90% 80% 70% 60% 50%

2 3 4 1 8

40%

7 6

10%

15

0%

7

1

3

8

2

6

3

3

2

9 1

30% 20%

5

10

7

2

2

22-25

26-29

30-33

2 3

1

4

3

2

8

2

3

3

1

34-37 Age Bracket

38-41

2

42-45

Pay cut

Pay freeze

Training reduction

Reduced hours

Increased responsibilities

Change of role

2

50+

experienced by 27% of participants. This may be due to pressures from management to fill vacancies or as an alternative to redundancy. Reduced training has affected 46% of respondents, 92% of which is focused on YPs under 37. It is this group that will form management positions in the next ten years. They will be critical to the future of the UK Oil & Gas Industry.

Reduced hours is a saving method that seems to affect more nts have undergone a pay cut or are experiencing a pay freeze. However, despite reduced pay many respondents feel that they have increased experienced hires. ies. Redundancy

Know your rights, see www.gov.uk/ urs is a saving method that seems to affect more experienced hires. redundant-your-rights/overview

role has been experienced by 27% of participants. This may be due to pressures from management to fill vacancies or as an alternative to redundancy.

According to the statistics those between 26-33 are at the greatest risk of redundancy.

ining has affected 46% of respondents, 92% of which is focused on YPs under 37. It is this group that will form management positions in the next ten years. critical to the future of the UK Oil & Gas Industry.

o the statistics those between 26-33 are at the greatest risk of redundancy. Know your rights see https://www.gov.uk/redundant-your-rights/overview


YP job losses within the Oil & Gas Industry YP job losses within the Oil & Gas Industry Job loss affects 28% of Participants

7

Transferred within company

6

No

No. of job losses

5

Yes

4 3 2 1 0

22-25

26-29

30-33

34-37

38-41

42-45

50+

Age Bracket

participants 23 across all age brackets have lost jobs representing 28%.

Of 81 participants 23 across all age brackets have lost jobs representing 28%. duction in this age group is reminiscent of the exodus of talent during the previous downturn in 1990s and is likely to result in a r

ically 26-33 year olds are most at risk of job loss. Of the participants between the ages of 30-33, 50% have lost their job.

skills gap that was created. We risk loosing the innovation and ideas of this group who have dedicated up to 10 years to building in the industry. The corresponding shedding of experience will negatively impact the development of junior staff and result in a l Statistically 26-33 year olds are most edge that threatens adversely affect industry for years to come. at risktoof job loss. Ofthe the participants

between the ages of 30-33, 50% have

you read the PESGB YP Low Oil Price Survival Guide? See http://www.pesgb.org.uk/media/uploads/YP lost their job. Oil_Price_Survival_Guide.pdf for a FREE download! (Can head office check that this is the correct link?)

TheMornings reduction in thistoage group is and networking opportunities for those looking for employment, k ESGB run Coffee in Aberdeen provide support of(Anything the exodus talent ut for similar reminiscent events in London. furtherof head office would like to include for advertising purposes?) during the previous downturn in 1990s and is likely to result in a repeat of the skills gap that was created. We risk loosing the innovation and ideas of this group who have dedicated up to 10 years to building a career in the industry. The corresponding shedding of experience will negatively impact the development of junior staff and result in a loss of knowledge that threatens to adversely affect the industry for years to come.

Have you read the PESGB YP Low Oil Price Survival Guide? See http://www.pesgb.org.uk/media/uploads/ YP Low_Oil_Price_Survival_Guide.pdf for a FREE download! The PESGB run Coffee Mornings in Aberdeen to provide support and networking opportunities for those looking for employment. Keep an eye out for similar events in London!


Unemployed YPs continue to seek employment in the Oil & Gas industry, 35% have had interviews within the industry while only 17% have secured positions. Other industries are attracting YPs, 43% have had an interview outside the Oil & Gas industry with 26% securing employment.

Unemployed YPs are looking to other industries for loyedemployment YPs are looking to other industries for emplo The chance of securing an interview and potentially a job offer is higher in other industries. Of those employed outside the industry, 83% of participants have entered the Business and Finance sectors.

Of those surveyed, 59% of respondents who have lost their job plan to return to the oil and gas industry when the commodity price improves. A further 33% are unsure if they will return and 8% say that they will not return.

If you are eager to return to the industry maintain contact by attending PESGB events, workshops and field trips. Keep your finger on the pulse and continue to develop and improve your skill set!

Qs. Have you had any interviews since you have been made unemployed? 16

No. of Respondents

14 12 10 8 6 4 2 0

Within the industry yes

no

Without the industry

Employment following redundancy

ue to seek employment in the Oil & Gas industry, 35% have had interviews within the industry while 17% have sec

racting YPs, 43% have had an interview outwith the Oil & Gas industry with 26% securing employment.


The data below suggests that staff who are very experienced, or very inexperienced are bearing the brunt of the redundancies. International staff have decreased, perhaps as expats have been returned to their home countries and work permits not renewed. This negatively affects the diversity within organisations.

Has redundancy affected the demographic of the Oil & Gas Industry There does not seem according to to be gender bias in the Has redundancy affected the demographic ofprocess. the Oil & Gas YPs? redundancy Industry according to YPs?

Qs. Have/did redundancies affect the demographic of your current/previous Oil & Gas workplace in any of the following ways. Select all that apply. More international staff The female:male ratio has changed in favour of male staff There have been no redundancies at my company The female:male ratio has changed in favour of female staff The demographic is unchanged - no group is particularly affected Less international staff Less experienced staff (>10 years experience) Less YPs (<10 years experience) 0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

• These data suggest that staff who are very experienced or very inexperienced are bearing the brunt of the redundancies. • International staff have decreased, perhaps as expats have been returned to their home countries and work permits not renewed. This negatively affects the diversity within organisations. • There does not seem to be gender bias in the redundancy process.

50%


Employed YPs are Conclusions Considering their Career PESGB YPs are highly Employed YPs are Considering Options Options their Career skilled; 84% have or are Qs. If you have kept your job through the downturn, are you considering or actively looking for alternative employment?

studying towards an MSc qualification. Qs.or DoPhD you feel secure in your role?

35

No. of Respondents

30 25 20

15 yed YPs are Considering their Career Options 10

All participants across all age groups are experiencing negative affects as a result of cost saving initiatives to reduce company spending. I feel secure

5

ve kept your job through the Qs. Do you feel secure in your role? e you considering 0 or actively alternative employment? sidering their Within Career Options the industry Without the industry Not looking

Statistically, 26-33 year I don’t feel secure oldsI have arebeen most told myat job risk is at riskof job loss.

• Of those who remain employed within the Oil & Gas industry, 78% are considering or actively looking for alternative employment.

he The chance of securing an Qs. Do you feel secure in your role? ely • Employed YPs are considering career options within and outside of the industry, 52% and 26% respectively. interview and potentially a ?

• The minority, 22% are not looking for alternative employment.

job offer is higher in other industries.

• Of those employed, 38% do not feel secure in their role or have been told that their job is at risk. This could explain why 78% of employed participants are looking for new opportunities. However, as 50% feel secure the results suggest that some of those persons are also looking I feel secure for new roles. I don’t feel secure

Almost 60% of those who

been told my job is at risk lost jobs plan to hours and pay • As discussed earlier, companies are undergoing costI have saving initiatives resulting in increased have responsibilities, reduced training, Without theYPs. industry Not Ilooking for As a consequence of job dissatisfaction, employed YPs looking for alternative roles within and and without the Oil & Gas Industry. feel secure

I don’tare feelconsidering secure within the Oil & Gas industry, 78% or actively looking for alternative employment. I have been told my job is at risk

who remain employed within the Oil & eer options withinOf andthose outside of the industry, 52% and 26% respectively. ooking

Gas industry, 78% are considering or actively looking for alternative 8% are considering or actively looking for alternative employment. g for alternative employment. employment. of the industry, 52% and 26% respectively.

eel secure in their role or have been told that their job is at risk. This could explain why 78% of employed YPs are options within andare also looking opportunities. However,Employed as 50% feel secure theconsidering results suggestcareer that some of those persons

outside the industry, 52% and 26% respectively.

been told that their job is at risk. This could explain why 78% of employed

feel secure the results suggest that someresulting of those persons are also looking re undergoing cost saving initiatives in increased training, hours and pay The minority, 22% are not looking responsibilities, for alternative reduced employment. dissatisfaction, employed YPs looking for alternative roles within and and without the Oil & Gas Industry.

atives resulting in increased responsibilities, reduced training, hours and pay Of those employed, 38% do not feel secure ooking for alternative roles within and and without the Oil & Gas Industry.

in their role or have been told that their job is at risk. This could explain why 78% of employed participants are looking for new opportunities. However, as 50% feel secure the results suggest that some of those persons are also looking for new roles. As discussed earlier, companies are undergoing cost saving initiatives resulting in increased responsibilities, reduced training, hours and pay for YPs. As a consequence of job dissatisfaction, employed YPs looking for alternative roles within and and without the Oil & Gas Industry.

return to the industry if the commodity price rises. Of those employed, 50% feel secure in their role, however 78% are actively looking for alternative employment indicating job dissatisfaction Redundancy is affecting male and female, experienced and inexperienced staff without bias. There is a reduction in international staff which negatively affects diversity.


Who we are The PESGB Young Professionals committee was established in 2010 specifically for those members with less than 10 years experience in the Oil & Gas Industry. We aim to support fellow Young Professionals (YPs) and help them to develop a strong network within the oil and gas community. We achieve this by: 66Providing YPs with experienced mentors 66Hosting networking events; seminars, lectures, quizzes and socials 66Undergraduate mapping sponsorship The PESGB YP Committees are based in London and Aberdeen.

pesgbyp@gmail.com PESGB Young Professionals facebook.com/PESGBYP twitter.com/PESGBYP

YP Survey 2016  
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