The conflict in Ukraine has been ongoing for three years now and Russia’s oil and gas industry has played a significant role in funding it. However, the industry is currently facing a shortage of manpower due to the mobilization of Russia’s economy for war, exacerbating an already existing demographic crisis.
The situation has put pressure on the industry to offer competitive wages and incentives to attract and retain employees. This competition for workers has become even more intense with sign-up bonuses for soldiers fighting in Ukraine often surpassing the annual salary of an average oil and gas field worker.
As a result, high-paying energy companies like Gazprom PJSC are now competing with the Russian military and weapons manufacturers for workers. Analysts and industry recruiters note that this competition is putting additional strain on the oil and gas industry as it struggles to maintain its workforce while also supporting the war effort.
The outcome of this dynamic will have significant implications for both the industry and the country as a whole. On one hand, Russia’s energy sector continues to play a crucial role in funding the conflict, while on the other hand, it faces challenges in meeting its labor needs due to its military ambitions.
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