The mining industry faces unique challenges when it comes to hiring and retaining a skilled workforce. For more than a decade, the skilled labor force that the mining industry requires has been in decline. Mining engineering programs have been closing in both Europe and North America, and the generation of senior mining executives who helped build mines globally during the commodities boom is retiring. As the world is increasingly turning to technologies that rely on mining, companies are facing a labor shortage.
As a leader in mining, I’ve witnessed how the labor shortage has impacted nearly every aspect of the business. In particular, I’ve found that finding senior experienced mine builders has become exceptionally challenging and increasingly costly. The increased costs and lack of senior talent add increased risk to projects being completed on time and within budget.
The combination of remote work locations, demanding job conditions and a shrinking talent pool has created an urgent need for innovative and targeted human resource (HR) strategies. Therefore, companies that prioritize employee satisfaction and workforce development can be better positioned to meet the industry’s labor demands and growth requirements in the coming years. Based on what I’ve seen as an industry leader, I recommend the following HR strategies for hiring and retaining workers.
