January 25, 2016 – Executive search consultant Chris Reinsvold has launched Reinsvold & Associates, LLC, an executive search and strategic consulting firm dedicated to serving the industrial and energy sectors. The firm, based in Houston, plans to name recruiting consultants in coming months.
Mr. Reinsvold has more than 25 years of management experience primarily in roles dealing with strategy, leadership, business transformation, engineering and marketing. He has been involved in a wide variety of oil & gas, energy, midstream, LNG, oilfield services and engineering & construction assignments in the U.S. and abroad.
Previously, Mr. Reinsvold was vice president of recruiting firm Pearson Partners where he led the firm’s energy search practice, placing leaders in middle management, C-suite and boardroom roles. He focused his efforts primarily on industrial, private equity and energy industry clients – from oil & gas, chemicals, drilling contractors, oilfield equipment and service companies to engineering & construction, technology start-ups, consulting, and strategic information companies. Before that he served as a consultant at Preng & Associates. He also gained experience as CEO of oil & gas strategy consulting firm Decision Strategies.
“Currently, the energy industry is going through significant change. ‘The Great Crew Change’ is the number one long term talent issue cited by executives,” said Mr. Reinsvold, referring to the current industry bubble of senior leaders in the 55-plus age range preparing for retirement; their replacements are not in place, say experts, and this will lead to a deep shortage of qualified leadership in the coming decade.
A recent report issued by ManpowerGroup, ‘Strategies to Fuel the Energy Workforce,’ in fact found that 58 percent of energy executives said they struggle to find the talent they need and 74 percent believe the problem will worsen over the next five years.
The study also found the talent shortage may already be slowing growth and expansion throughout the sector. By some estimates, there will be three million energy sector jobs by 2020. In the utilities subsector, where half of the workforce is already over the age of 40 — 100,000 net new jobs are projected. Many of the positions will require tech-savvy candidates to keep pace with future developments.
In response, a number of headhunting firms have been expanding within the energy sector to fill critical roles for clients:
Preng & Associates appointed Steve Raben as a senior consultant in its Houston office. He has led over 500 domestic and international client assignments for public and private oil & gas, petroleum equipment, service and hydrocarbon processing & transportation companies, at the board, C-suite and business segment leadership levels.
Korn Ferry recently bulked up its staff in the sector, naming former Heidrick & Struggles recruiter Chad Hesters as managing director of the firm’s Houston office and a senior client partner in its energy search practice.
Heidrick & Struggles, in turn, strengthened its oil, gas and power expertise in the firm’s global industrial practice with the addition of David Pruner. He joins the firm from Wood Mackenzie, a global research and strategic advisory firm specializing in the energy, chemicals, metals and mining industries, where he has been a senior vice president for the past 12 years.
Extract Talent opened its doors to serve clients ranging from Fortune 100 companies to startups. The firm concentrates in the downstream sector of the oil, gas, chemicals, and catalysts industries.
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media