16/03/2009
The UK energy industry is going through a period of unprecedented change with many jobs likely to be created over the coming years. This is buoyed by government investment in a variety of projects, from the new generation of cleaner nuclear power plants to renewable energy emissions targets as set out by the Kyoto Protocol. In a bid to understand the main issues affecting professionals within the energy sector - particularly what benefits are important - the Energy Institute (EI) and specialist recruitment consultancy Hays Energy have been working in partnership to develop a comprehensive salary and benefits guide, details of which can be found at www.energyinst.org.uk/salarysurvey2009 Salary and benefits information can be an effective tool in understanding a job applicant’s priorities and is useful for both employees and employers. The salary survey includes comprehensive details about benefits packages on offer and the specific needs of professionals in the energy industry. It is hoped that the survey will play a key role in both the recruitment and retention of the best staff at companies and for planning individual career development. As the survey reveals, remuneration in the energy sector remains competitive, reflecting the desire of employers to attract, retain and reward highly skilled and experienced operatives. ‘Recruitment activity has been tempered by the current economic climate - organisations are becoming more selective and cautious in their recruitment, looking for individuals that closely match their roles,’ says Eliot Davies, Director at Hays Energy. Salaries have risen over the past 12 months and continue to grow steadily across all energy sectors, with oil and gas engineers enjoying the greatest financial recompense. Over half the survey respondents earn in excess of £50,000 and 17% of those are earning six figure salaries and above. Interestingly, monetary benefits are not the most important factor in considering a job move - almost twice the number of respondents cited a new challenge as their prime motivator. Pensions top the list of desirable benefits - the larger utilities, in particular, are offering generous contributions to retirement funds. Annual leave entitlement is the second most important factor cited, followed by flexible working hours. Examples include half-day Fridays or, as happens in the oil and gas sector, ‘nine-day fortnights’ which enable workers to take a supplementary day off every other week. Private health insurance is also widely offered, while many companies also sponsor career development, offering to pay for further training - this is borne out by the number of workers that hold a postgraduate qualification (35%). Half the respondents saw their incomes boosted by bonuses, which can climb as high as 20% of base salary; over a third believe that performance-related payments will continue in 2009. ‘These are exciting times for the energy sector, which is one of the more resilient sectors of the UK economy. As our Salary & Benefits Survey 2009 results show, salaries and benefits in the energy sector remain competitive and job satisfaction is also high among the workforce. Working in the sector offers a rewarding career, both in terms of training and development and the opportunity to work on projects globally,’ concludes Sarah Beacock, Professional Affairs Director at the Energy Institute. For further information contact Sarah Beacock, EI Professional Affairs Director on t: +44 (0)20 7467 7170 or e: sbeacock@energyinst.org Alternatively, contact Marta Kozlowska, Development Director on t: +44 (0)20 7467 7104 or e: marta@energyinst.org The Energy Institute’s new recruitment website - www.yourenergyjobs.com - has been developed as a direct response to the needs identified in the survey.
News Item details
Region: UK
Organisation: Energy Institute
Subjects:
Information technology,
Energy engineering,
Protection of ambient air and climate,
Health,
Banking, finance and investment,
Insurance,
Project Management,
Skills, education and training,
Policy and Governance,
Planning and Design,
Economics, business and commerce,
Transformation [Energy processing] (Conversion),
Electricity generation,
Electricity from nuclear fuel,
Industry and Manufacturing,
Oil,
Recruitment,
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Workforce