Retention in the shipping industry has emerged as a significant challenge, despite rising wages. While global pay has increased, only 40% of ship managers report improvements in crew loyalty, indicating a persistent exodus. The modern workforce values connection and support over mere financial compensation. As Chirag Bhari of ISWAN points out, stagnant salaries have led to fewer individuals from urban areas pursuing maritime careers, despite their passion for the field.
The pandemic’s legacy continues to affect crew morale, with extended contracts and limited shore leave creating additional pressures. Industry leaders like Tim Hill and Peter Rouch emphasize that pay alone is insufficient for retention. Seafarers seek respect through better working conditions, including reliable connectivity and adequate rest. Young professionals are particularly drawn to shorter contracts and competitive salaries, as highlighted by Marlon Roño of Magsaysay.
Moreover, cultural shifts are essential for retention. Companies must prioritize well-being and career development alongside competitive pay. As Wiebke Schuett from Wilhelmsen Ship Management notes, a supportive culture significantly impacts retention rates. In a competitive job market, shipping firms must create environments that foster loyalty, emphasizing that a fulfilling career goes beyond financial incentives.
