Shortage of Good People

[peter.lovie]

Discussion at the Roundtables has often raised the current shortage of good people, most companies complain about this difficulty, some say they will not counter competitive outside offers.

But surely there is a market at work here. Day rates on offshore equipment go up in tune with market oportunities. Same with people. Schumpter the Austrian economist talked of "creative destruction" as adjustments in a free enterprise system went forward, with newer stronger entities emerging.

Same with the shortage of good people that contractors lament, the high bidders win. Good experienced hands come out of retirement, talented folk in other indusrtries get lured to apply themselves in new E&C opportunities.

For now the pendulum has swund in favor of the generation of victims of "hire and fire" over the years. Protectionists of the past era may become dinosaurs in the creative destruction.

I admit this is a post to help open debate on an active theme for this new Virtual Forum. But there is I think some serious merit to the line of thinking.

What say you?


Peter Lovie