Oil and gas have rebounded from the pandemic, with demand returning to pre-pandemic levels. Despite the global energy transition accelerating, oil and gas are set to remain critical components of the energy landscape over the next decade. Natural gas demand, for instance, is projected to rise in the medium term, driven by power generation, blue hydrogen production and high-heat industrial applications. The rapid growth of liquefied natural gas (LNG), expanding eight times faster than total gas demand, as McKinsey highlighted in a recent report.

However, the industry faces structural shifts. Electric vehicles (EVs) are expected to increase electricity demand while gradually reducing reliance on oil. This dynamic, projected to unfold over the next seven to ten years, creates uncertainty for long-term demand. To navigate these challenges, companies are pursuing upstream growth, consolidating assets and reshaping the downstream sector. Notable trends include diverging bets on new energy, a focus on performance efficiency, and a sustainability-driven agenda.

From a workforce perspective, U.S. companies have outperformed their global counterparts, particularly in exploration and production. Yet, challenges persist. High attrition rates, skill shortages and the reluctance of workers to relocate to remote sites require a rethinking of traditional talent acquisition strategies.

Put yourself in this situation: you’re attempting to build a dam during a storm, only to find that by the time the storm ends, the water has already breached, making it too late to contain the damage. This is precisely the situation companies faced during the pandemic: reacting to a surge in talent departures without a proactive plan in place to strengthen their talent pipelines. Having high attrition rates is not ideal; they signal a critical need for businesses to use forward-thinking workforce solutions to weather future disruptions.

Talent acquisition (TA) professionals must ensure their processes are clear and strategies are future-ready for scenarios like these. In April 2020, U.S. unemployment spiked to 14.7%, the highest since the Great Depression. By December 2024, it fell to 4.1%, with industries like healthcare and tech thriving. The EU followed a similar trajectory, with unemployment dropping from 7.5% in 2020 to 5.9% in November 2024, though youth unemployment remained stubbornly high at 15.3%. Saudi Arabia turned crisis into opportunity, cutting unemployment from 12.6% in 2020 to 5.71% by 2023 through Vision 2030 reforms.

However, as jobs were steadily coming back, many businesses were not prepared. In 2020, U.S. job openings dropped below 6 million, only to skyrocket to 11 million by March 2022. Across the globe, Australia saw vacancies plummet nearly 40% in 2020, rebounding to 51% above pre-pandemic levels by late 2024. What is the key takeaway? Organizations that succeed remain agile, proactive, and equipped with the right strategies to address market disruptions before they escalate.

The most striking trend is the 19.5% surge in Director of Pharmacy positions between Q2 and Q3 2024. This growth suggests healthcare organizations heavily invest in operational leadership, particularly at the director level. Meanwhile, senior executive positions (CPO, SVP) have plateaued, indicating a possible strategic shift in organizational structures.