Survey: Maritime Leaders Weigh In On Talent Crisis, Pay



Survey: Maritime Leaders Weigh In On Talent Crisis, Pay
A Faststream survey of 3,000 maritime executives reveal their thoughts on the sector.

Working offshore comes with its own set of unique challenges – even aside from those spawned by the conditions from the oil and gas industry’s most recent downturn. Often times, you needn’t look further than the employees to gather the best insights on how to address industry issues.

Maritime recruiter Faststream recently surveyed 3,000 maritime business leaders and executives to seek answers to questions regarding the talent crisis and market conditions affecting the industry. Below, you’ll find respondents’ results from the survey.  

Talent

  • 43 percent believe there is enough talent already in the maritime sector who can become future executives
  • 73 percent think maritime should look to other sectors for executive level talent
  • 36 percent think Singapore will hold the largest talent pool for maritime in the next five years, followed by 12 percent who said London; 10 percent who said Copenhagen; 9 percent who said Hamburg and 5 percent who said Hong Kong
  • 79 percent said having an MBA is not essential to make it as a senior executive
  • 60 percent think being a senior officer doesn’t prepare you for being a senior executive
  • 76 percent believe the maritime industry does not do a good job of attracting, developing and promoting female talent

Pay

  • 12 percent believe they were paid better than their counterparts in another industry; 49 percent believe they are paid the equivalent and 38 percent believe they are paid less
  • 67 percent believe executive pay will remain static over the next two years; 17 percent believe it will increase and 16 percent think it will decrease
  • 65 percent believe the industry does not currently pay enough to compete with other sectors for new talent
  • 82 percent believe maritime CEO bonuses should not be based on financial performance alone

Stress

  • 41 percent said they plan to change jobs within the next two years
  • 56 percent said they remain motivated during tough shipping markets
  • 55 percent believe resilience to be the most important factor in order to be an excellent senior executive; 35 percent said entrepreneurial and 14 percent said popularity
  • 45 percent believe maritime to be more stressful than working in other sectors; 53 percent said equally as stressful and 1 percent said less stressful
  • 17 percent would consider leaving maritime


WHAT DO YOU THINK?


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