Supply & Demand Shortage of Human Capital in Renewables is REAL

There is simply not enough qualified talent working in clean energy to meet the demand. You've been reading about this issue in our newsletter and are likely experiencing hiring challenges at your organization, so what happens next?

For starters, expect to pay beyond your budget for most hires. Compensation rates will be unbalanced for the foreseeable future. This could cause salary inequity amongst organizations which can cause a host of challenges - most notably, retention.

The other major adverse reaction to a human capital shortage is bidding wars. Our offer closing rate is shrinking. We're getting to the offer stage with candidates that have multiple offers. In the clean energy employment market, most candidates can expect a 10-15% increase from one job to the next. These numbers have risen (on average) to 20-30%.

How Do Organizations Mitigate Hiring Risks in this Market?

Speed! You've heard the expression, time kills all deals. Well, this couldn't be more true in the employment market in clean energy in 2021. It's a race to the finish line (or offer letter in this case) so don't waste time between interviews. The faster you can get a candidate to the offer stage, the higher your closing ratio will go.

Make an aggressive offer right away. Know that every candidate you are talking to likely has multiple companies courting him or her, and will be receiving multiple offers, and likely get a counter-offer from their current company when they give their resignation.  Lastly, evaluate your hiring process.  Too long of a process or too much process overall can allow other more streamlined companies to win a candidate faster.

If you are currently exploring a new job in your renewable energy career, we invite you to have a look at our careers portal. If you're looking to hire top talent in manufacturing, project development, finance, construction, operations, or energy asset management professionals, reach out to us today.

What's a birthday celebration without gifts?!

Thank you all for the kind notes about our ten year anniversary. To celebrate (and to thank you!), we're giving away 10 EnergeiaWorks solar backpacks over the next 10 months. Keep an eye on our upcoming emails and social media channels for your chance to win each month. Our June giveaway starts on Tuesday, click here to follow @EnergeiaWorks on LinkedIn to learn more about how to enter.

Are you ready to network again?

It's been 14 months since Renewables UnWind hosted a live event, due to the pandemic. As in-person conferences and tradeshows begin hitting the calendar for later in 2021, we're also thinking through and looking ahead to our next Renewables UnWind. When the time is right, we will open our events safely. But we haven't been hibernating. We've been improving! We're proud to announce we've received an official Trademark status on Renewables UnWind through the US Patent and Trademark Office. We've also launched a new video so you too can get excited for our next live event. See here!