{"id":81232,"date":"2023-02-21T04:12:44","date_gmt":"2023-02-21T04:12:44","guid":{"rendered":"https:\/\/globalroadtechnology.com\/\/?p=81232"},"modified":"2023-06-27T05:57:33","modified_gmt":"2023-06-27T05:57:33","slug":"miners-feel-the-workforce-squeeze","status":"publish","type":"post","link":"https:\/\/globalroadtechnology.com\/miners-feel-the-workforce-squeeze\/","title":{"rendered":"Miners Feel the Workforce Squeeze"},"content":{"rendered":"

Workforce uncertainty is a hot topic in mining and resources.\u00a0<\/span>Driven by a combination of factors, including the COVID pandemic, global energy uncertainty and the changing nature of work, miners are feeling the pinch.<\/span><\/p>\n

Striking at a time when the industry is trying to improve almost all business aspects, the unprecedented talent shortage has become a top priority for many operators.\u00a0<\/span>Simply put, attracting and retaining skilled people and A-players takes work.\u00a0<\/span><\/p>\n

Work is also evolving with the rise of automation, algorithms, and a need for digitally savvy people. <\/span>More than 100 million workers globally will need to find a different occupa\u00adtion by 2030.<\/span><\/p>\n

Following COVID, 40 per cent of employees surveyed were likely to leave their jobs in the next six months, prompted by multiple factors, including a change in life priorities.<\/span><\/p>\n

While a recent McKinsey report noted 72 per cent of execu\u00adtives have adopted permanent remote-working models. <\/span>So how can miners get around these current issues?<\/span><\/p>\n

Employees in the Spotlight<\/strong><\/h2>\n

It\u2019s easy to think of mining\u2019s value as only coming from gold, iron ore, coal, rare earth etc., but that idea is slowly shifting.<\/span><\/p>\n

People and talent are now being elevated from simple enablers to being considered proper value drivers.<\/span><\/p>\n

Critically for miners, who make relatively low investments in skilled people, there are quick gains to be had.<\/span><\/p>\n

It is faster and easier to recruit a metallurgist, practical mine planner, or talented commodity than to upgrade or alter a processing plant or infrastructure, for example.\u00a0<\/span><\/p>\n

With that in mind, 71 per cent of mining leaders say they need more talent to deliver on production targets and strategic objectives.\u00a0<\/span><\/p>\n

And It’s now much harder to recruit in specialised fields like mine planning, process engineering, and digital (data science and auto\u00admation).<\/span><\/p>\n

HR is experiencing a tricky trend that\u2019s expected to continue.\u00a0<\/span><\/p>\n

Perhaps more importantly, young people aspire to be something other than miners in Australia.<\/span><\/p>\n

There has been around a 63 per cent drop in mining engineering enrollment in Australia alone since 2014.<\/span><\/p>\n

This is a worrying sign, but what can be done?<\/span><\/p>\n

Making Talent Priority #1<\/strong><\/h2>\n

In their recent study, McKinsey outlined what it believes it\u2019ll take to reverse the trend.<\/span><\/p>\n

Miners must act now to avoid structural talent issues further affecting their performance.\u00a0<\/span><\/p>\n

Here are the study’s five key recommendations:<\/b><\/p>\n

    \n
  1. Hiring great people is no longer a \u201cHR only\u201d problem and should be treated as a strategic pillar, alongside safety, cost and production targets.\u00a0<\/span><\/li>\n
  2. Double down on what matters to employees.<\/span><\/li>\n
  3. Understand which skills matter and invest in them.<\/span><\/li>\n
  4. Make bold moves on the social agenda.<\/span><\/li>\n<\/ol>\n

    According to the study, If miners can implement the strategy above, they will go a long way to creating best-in-class work environments where people feel \u201cvalued, invested in, and fulfilled.\u201d\u00a0<\/span><\/p>\n

    This will help to make the required shift in culture a reality.<\/span><\/p>\n

    And allow people in mining to bring their best selves to work daily while delivering on the expectations of shareholders, policymakers, and broader society.\u00a0<\/span><\/p>\n

    Summary<\/strong><\/h2>\n

    The mining industry, in Australia and worldwide, is facing a significant hurdle from talent shortages.<\/span><\/p>\n

    Multiple factors have brought on the crisis, but miners must catch up in their approach to hiring and retaining top performers.<\/span><\/p>\n

    A recent study by McKinsey has called for immediate action before miners fall too far behind the competition and matters worsen.<\/span><\/p>\n

    In essence, this strategy should go to the heart of what people want from their careers, how they want to be treated and what they want to learn.<\/span><\/p>\n

    With all of this combined, mining can turn people into one of its most valuable commodities, in line with what it pulls from the ground.\u00a0<\/span><\/p>\n

     <\/p>\n

    Dust suppression is an enduring issue in the world of mining and energy.<\/b><\/p>\n

    Learn more about GRT\u2019s industry-leading and IoT-connected <\/b>SMART Dosing Units<\/b><\/a>, and discover how we\u2019re driving better dust suppression solutions for all.<\/b><\/p>\n

    \n

    Your feedback is important to us. If you enjoyed reading this Global Road Technology industry update and found it informative, please let us know by leaving a\u00a0REVIEW<\/a>.<\/p>\n<\/div>\n

    References:<\/strong><\/p>\n

    https:\/\/www.mckinsey.com\/industries\/metals-and-mining\/our-insights\/Has-mining-lost-its-luster-why-talent-is-moving-elsewhere-and-how-to-bring-them-back?cid=other-eml-dre-mip-mck&hlkid=23f9212e3df4483e9b64844ae9e00d28&hctky=14378300&hdpid=10b5833c-7e57-4490-81cf-baad581885d8<\/span><\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    Workforce uncertainty is a hot topic in mining and resources.\u00a0Driven by a combination of factors, including the COVID pandemic, global […]<\/p>\n","protected":false},"author":5,"featured_media":81233,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[115],"tags":[],"class_list":["post-81232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-articles"],"yoast_head":"\nMiners Feel the Workforce Squeeze | Global Road Technology<\/title>\n<meta name=\"description\" content=\"Discover the impact of the workforce shortage on the mining industry and how it is affecting miners. 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