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Why people are leaving the mining industry | How to retain mining talent | McKinsey
Source: mckinsey.com
Article summary:
1. Three cross-industry trends are converging to trigger far-reaching changes within the mining workforce, including an increasing focus on automation and digital skills, shifting worker preferences, and evolving ways of working.
2. Global energy uncertainty and heightened expectations in terms of ESG are ramping up pressure for mining employees to perform and deliver more.
3. Mining companies are experiencing a talent squeeze due to a lack of aspirational industry for young technical talent, public failures relating to safety and workplace culture, and a 63% drop in mining engineering enrollment in Australia since 2014.
Article analysis:
The article is generally reliable as it provides evidence for its claims such as citing the McKinsey Global Institute report indicating that 72 percent of executives say their organizations have started adopting permanent remote-working models, citing 40 percent of employees saying they were likely to leave their jobs in the next six months following the COVID-19 pandemic, citing 86 percent of mining executives saying it is harder to recruit and retain the talent they need versus two years ago, citing 71 percent of mining leaders finding the talent shortage is holding them back from delivering on production targets and strategic objectives, and citing a 63 percent drop in mining engineering enrollment in Australia since 2014. The article also provides potential solutions for miners to reverse the trend such as remuneration being seen as a particular strength for the front line with few competitive alternatives available in most geographies for similar skill levels; social climate and teamwork often stemming from the often-remote location of mine sites; addressing long-standing issues so that the best talent is excited to join the industry; increased accountability for ESG issues; scaling of renewables on-site; automation; and changing associated workforce.
However, there are some potential biases present in this article which could be explored further. For example, while it mentions public failures relating to safety and workplace culture adversely affecting the mining sector’s ability to attract talent, it does not provide any evidence or examples of these failures or how they have impacted recruitment efforts. Additionally, while it mentions potential solutions such as increased accountability for ESG issues or scaling of renewables on-site, it does not provide any evidence or examples of how these solutions have been implemented successfully by other miners or what impact they have had on recruitment efforts. Furthermore, while it mentions traditional strengths such as remuneration being seen as a particular strength for front line workers with few competitive alternatives available in most geographies for similar skill levels, it does not explore any potential drawbacks or risks associated with this approach such as wage stagnation or lack of career progression opportunities.