Three main challenges work in tandem and result in the hiring conditions we see across today’s Power Delivery Market.

Skills shortage

The first is a skills shortage. The Power Delivery sector is a specialist industry with few qualified professionals for each role. A simple search through Linkedin's insights platform shows that just 9% of professionals working in Electric Power Transmission, Control, and Distribution moved roles in the last 12 months. There's simply not enough talent to go around, which means attracting professionals often involves an increase in pay.

Competition

With few skilled professionals, it's then a tussle for talent. Which company is going to offer a professional the best package? Yet, this only goes to a certain point. You may feel the larger companies with large budgets will be the victors here, yet there's still plenty of opportunity to flex what your company can offer and bring value outside of salaries.

Investment and Economic Health

The US electricity transmission and distribution market size was valued at $82.96 billion back in 2022 and is expected to grow at CAGR 2.95%. Federal investments, venture, and private equity have all been funding power infrastructure. The growth is unique, and plenty of projects are being opened across the industry. The only issue here is who will be working on the projects. This investment exacerbates competition and skills shortages.

What’s the answer?

To see success in today's hiring market, there's no silver bullet. Competitive packages, a strong employer brand, partnering with talent consultancies, graduate programs, a well-versed hiring process, just to name a few, are all needed to land talent in today's market. Ultimately, the challenges above aren't going away any time soon.

However, you can gain an edge through hiring insights. Salary data can help you benchmark your firm against the wider market to ensure your competitive. Geographic data can show you where pools of talent are and where to drive hiring campaigns. Survey data from respondents in the field will give you direction when piecing together your benefits package and advertising job opportunities.

Take a look at our recent market insights report and take your first steps towards hiring success: Download the 2024 Power Delivery Salary Guide and Hiring Insights Report.