Recruitment is the LNG sector’s principal challenge according to a survey of Society of International Gas Tanker and Terminal Operators (SIGTTO) members undertaken by international shipping recruiter Faststream. 58% of the respondents to the survey agreed that recruitment was a big challenge.
Speaking at SIGTTO’s panel meeting yesterday (8 October) in Brunei, Faststream managing director Mark Charman said:
“Vacancy levels in the shore-based LNG sector are at a record high and we forecast them to continue growing. Employers face competition for talent not only from direct competitors, but also banks and power companies who need people with specialist marine engineering know-how.”
He noted that competition for those with seafaring LNG experience was fierce and that rising salaries at sea were setting expectations ashore.
“The ongoing uncertainty driven by the credit crunch has led to candidates being much less willing to take a chance and relocate to a new company. The promise of large bonuses is failing to attract candidates, with base salary a far more important factor.”
He advised LNG shipping companies and terminal operators to change their attitude to recruitment strategies and to take a lead from other industries when seeking to hire top talent in a candidate short market.
“All too often recruitment is seen as a distress purchase and a reaction to a problem. Candidates in this market are not walking the streets and looking for new jobs. Companies need to actively pursue talent, customise their approach to suit the role and link their long term business planning with succession planning.”
He added:
“Vacancy levels are going to continue to grow and companies need to sell themselves to candidates.”
Other results of the SIGTTO member survey included the findings that half of respondents agreed that seafaring experience was “essential for a successful career in shipping” and only 20% agreed with the statement that “HR should have the final say in who an organisation hires.”
About SIGTTO
SIGTTO is a non profit making company, formed to promote high operating standards and best practices in gas tankers and terminals throughout the world. It provides technical advice and support to its members and represents their collective interests in technical and operational matters.