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Declining prices has some oil and gas execs planning to decrease ‘buying’ of talent

February 03, 2015

A survey of North American oil and gas industry HR leaders by Mercer regarding the dramatic decline in oil prices found 32% felt it was too early to tell what the human capital strategy impact will be. However, it also found 32% plan to decrease “buying” talent from outside their organization — down from a similar survey last year when 66% of respondents identified buying talent as their top management strategy, according to Mercer.

Other findings in the Mercer survey include:

  • 18% plan to freeze or cut compensation
  • 18% will consider how to enhance cost effectiveness of HR delivery
  • 16% may reduce staff (restructuring)

The survey included responses from 165 oil and gas industry organizations in the US, Canada and Mexico. It took place between Dec. 11 and Jan. 16.