Even with the close of Q1 still a month out, EnergeiaWorks has already set a new company quarterly record for revenue. At the onset of 2022, we set lofty goals for our business based on the trajectories we saw from 2021. I'm thrilled to report that we are achieving these targets and demand for our service from new business shows no signs of slowing. Based on these trends, get ready for a long ride in dealing with supply chain problems for human capital. We will continue to see increased costs for labor across the renewable energy industry for at least the next 12 months - our internal metrics point towards companies moving much faster and putting more money on the table to get deals done.
Let's talk about talent acquisition KPIs.
How do recruiting agencies scale? By driving the metrics we can control. For the last 22 years of my recruiting career, I could forecast annual placements and revenue based on the quantity of resumes that left our desk or the amount of interviews we scheduled. For the first time in my career, or at least since the tech boom in 2000-2001, hiring metrics have changed.
The over-demand for talent in clean energy in the United States started in November of 2020 (yes, because of the Presidential election). From November 2020 through August 2021, our metrics and conversions were very typical and predictable, but then something strange happened. Hiring organizations shifted how fast they hire. They no longer needed to interview 5-7 candidates before making a job offer. They were ready to make an offer when the first good candidate came along! They figured that if they waited, they would lose quality talent in an already limited candidate field. Since August, the volume of outbound resumes and interviews has decreased, yet our number of offers and placements has increased. This demonstrates another statistic that can directly be correlated to the Great Resignation and to the mindset of the active candidate in this job market. Until this employment market cools off (and it will, eventually), this trend will continue for the next few quarters.
RE+ Northeast did not disappoint!
EnergeiaWorks got back to the conference circuit in a big way last week, reclaiming our spot as a Megawatt Sponsor of RE+ Northeast (formerly Solar Power Northeast). This stellar conference and exhibition really felt like the renewable energy world returning to its vibrant state! Joining 2,000 solar energy professionals, EW's Victoria Waye, Jamie Paquette, and Danny Cueto walked away feeling strongly optimistic about the industry and the events ahead for 2022.
The Exhibit floor and hotel lobby meeting areas were extremely busy from the get-go and that culminated in a totally sold-out Networking Event at the Harpoon Brewery Wednesday night, always a show high point. Hundreds of attendees packed in to enjoy beers, pretzels, pizzas and lots of great conversations. We once again raffled off an EnergeiaWorks solar-powered backpack with Dan Boyd of Ozone Renewables being the lucky winner.
From there we hosted a roundtable discussion Thursday morning as part of the new Business Labs initiative. Our topic of The Great Resignation and the Future of Clean Energy Hiring ended up being a really interesting look into the challenges faced by companies across the industry as we were joined by professionals from finance, EPC, project development, and installation. We all shared our recent experiences with the hiring process and discussed strategies that cut across subjects like broadening the talent pool, making hiring more efficient, and retaining employees in a hot job market. Adding a space for these types of conversation was a nice touch and something we hope will carry over to future conferences.
Connect with Team EW today.
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.