Power Industry Crossroads
Aging of the Workforce
Are you expecting to retire in the next ten years? Well a study has shown that the utility industry has one of the oldest workforces in the United States. Almost 50% of power workers are preparing to retire in the next 10 years, presenting a challenge to power companies and possibly a big opportunity if retirement for you is many years away.
The graying of the power industry workforce reflects the overall demographic profile of baby boomers. The median age for workers in the utilities sector is 3.3 years higher than the national average, with nearly half of the utility workforce currently over the age of 45.
A reduction in power industry staff size in power plants, design or construction firms has offset some of the impact of retirements. But the trend is disturbing. By 1997 utility employment levels nationally were at their lowest level since 1979.
If you are expecting to retire, then you should enjoy the free time after so many dedicated years. However, the rest of you will be too young to retire or may intend to continue to work for a few years more. For you, opportunities and compensation should increase as companies compete for experienced power professionals. Whether employers are seeking power plant designers, construction, or other specialists, all types of experienced workers will be needed. Many of you may be called to return from retirement as consultants.
This problem is not isolated to the U.S., with strains emerging in the national and international job market for professionals in power generation, transmission distribution and other high-voltage system engineers.
The labor market in power will tighten. This will provide power professionals with improved leverage with employers. Benefits that may emerge for potential job seekers include; career switches, accelerated advancement, mentoring, training, development, and improved compensation and vacation ? all of which have the potential to rejuvenate careers while engendering fresh accomplishments and renewed loyalty.
Your action:
Continue to hone your skills with advanced training and course work.
Commit to observing job boards like PowerPlantPro for the perfect next job.
