State of Talent Pool: 2008-2011
I have been in the energy search business for two decades and have gone through many cycles. The most prevalent current attitude could be described as “pent up unhappiness.” This comes from several causes: most recently, the GOM Disaster, politics that create uncertainty, huge losses in pension values, and career options that appear to be shrinking. None of these are employer-driven, but there is a “guilty by association” mentality as the motivating force. In addition, many employee retention programs have been dropped, bonus plans have expired, salary increases have been smaller, and in some cases, postponed. Talent turnover in the energy business is at its lowest point in the last three years. This is primarily the result of employees who are responding to a climate of fear and are “hunkered down” (trying to protect what (little) I have left, doing whatever it takes to keep my job). But, times are about to change!
