Why Savvy Mining Companies are Rethinking Talent Strategies

You won’t blow anyone's mind telling them that commodity prices are a key value driver in the mining sector.

If prices of commodities rise, those with the capacity to extract those commodities will be better off. Riveting.

But in an era where a whopping 71% of mining leaders say that talent shortages are holding them back from strategic objectives and 70% of those aged 15-30 say they would probably not or definitely not consider working in the mining sector, talent is increasingly being viewed along commodity prices, ore quality and location as a key value driver.

Source: McKinsey & Co.

Unfortunately for many mining companies traditional views on value creation persist and talent challenges remain at the bottom of a long list of priorities.

For the savvy miner, developing a talent strategy can be a key differentiator to attract talent.

One tactic miners may look to utilize could be to better define and communicate the value they offer as an employer by improving their employer brand.

For example miners can highlight the strong team cultures they develop by virtue of their remote nature to attract Gen-Z and Millennials who have a growing desire to have ‘’friends at work’’. 

Junior exploration companies can leverage their small size to ensure that employees feel that they have a more direct impact on the success of the organization and connect with Gen Z’s expectation to have purpose at work.

When it comes to attracting and retaining geologists, plaid, flannel and craft beer continue to rank high in importance.