Disruption

One of the many challenges facing businesses today is disruption.  Disruption comes in many forms.  One that has hit the oil and gas sector is the current economic downturn.  Granted, things have stabilized slightly, but the industry is still feeling its effects.

At the recent Marcellus Shale Coalition June meeting, several members of the supply chain committee expressed their thoughts about their challenges.  One point was their inability to find workers.  They noted that, at best, only 60% of employees laid-off are interested in returning to the industry.  This low return risk is common for drillers, completion services, water haulers, etc.  Downturn or not, individuals need to find jobs and will move on.

Compounding this issue is that subcontractors are also struggling finding workers.  Members of the supply chain committee also expressed concerns about workers’ training, in particular, safety training.  Additional concerns regarding background and security were raised by committee members.

These factors present challenges, however, the laws of supply and demand will come together and provide solutions.  With enough incentive, workers, both inexperienced and experienced, will come back to the industry, but at a cost.

If your business needs help navigating through disruption, we invite you to contact your Schneider Downs representativeFor additional information, visit the Our Thoughts On... blog.

You’ve heard our thoughts… We’d like to hear yours

The Schneider Downs Our Thoughts On blog exists to create a dialogue on issues that are important to organizations and individuals. While we enjoy sharing our ideas and insights, we’re especially interested in what you may have to say. If you have a question or a comment about this article – or any article from the Our Thoughts On blog – we hope you’ll share it with us. After all, a dialogue is an exchange of ideas, and we’d like to hear from you. Email us at [email protected].

Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.

© 2021 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.

our thoughts on
Postcard from the AICPA & CIMA | PDI Oil & Gas Conference
What to Expect When You’re Expecting a Single Audit
Audit, ERISA BY Patti Giudici
Employee Benefit Plan Audit Requirement FAQs
What to Know About the Latest Title IX Guidance
Register to receive our weekly newsletter with our most recent columns and insights.
Have a question? Ask us!

We’d love to hear from you. Drop us a note, and we’ll respond to you as quickly as possible.

Ask us
contact us

This site uses cookies to ensure that we give you the best user experience. Cookies assist in navigation, analyzing traffic and in our marketing efforts as described in our Privacy Policy.

×