The mining industry is facing a problem. Over the past 15 years, we've seen a decline in new recruits, ultimately creating a talent shortage. Meanwhile, about a quarter of our experienced workforce is set to retire. This skills gap, which lies primarily within the 35-50 age range, forms the backbone of the industry's experience. In the mining world, the labor shortage comes with far-reaching consequences. Project quality may be compromised, safety can be put at risk, and our ability to meet the ever-increasing global demand for metals and minerals becomes impossible, challenging our progress towards ambitious global, sustainable, development goals.
But this is not a problem confined to the mining sector alone. Throughout the United States, skilled labor shortages are becoming an undeniable reality affecting numerous industries. If we're not careful to change this course, the general population might soon begin feeling the effects of these shortages. We must act now and unite as a force to be reckoned with — for the future of our industries and our nation.
Pique Their Interest Early
Many people don't realize how critical mining is in our current climate. Today's energy-efficient technologies require us to mine for more materials — and deeper — than ever. Increasing the number of workers in the field is paramount as we continue to strive for greener options. One way to bridge the gap in skilled labor industries is to invest in the education and development of our youth. For our team, one of the most powerful approaches has been focusing on student outreach initiatives. By nurturing their interest in the science, technology, engineering, and mathematics (STEM) fields from an early stage, we can create a pool of skilled candidates primed to thrive in many industries, including mining. Scholarships, outreach programs, and partnerships with educational institutions can help ignite a passion for these trades.
Collaboration between the public and private sectors is also invaluable for creating programs that offer hands-on experience for young workers. By providing young talent with the opportunity to work alongside seasoned professionals, we're developing a new generation of skilled workers who can become trailblazers of innovation and progress.
Today's youth are hungry for meaningful challenges and a sense of purpose in their work. Showcasing the exciting and rewarding opportunities available in the skilled labor industries can entice them to consider these paths as viable, long-term options. Furthermore, helping them know that enjoying work and having fun on the job is possible can significantly influence their decisions — they are young people, after all.
Still Looking to Grow? Go Global
Over the years, we have developed a lot of talent in South America and globally. As we shift operations back to America, we've encountered challenges bringing these established, skilled team members onto U.S. soil to continue our operations here.
It's costly and quite frankly, time-consuming to navigate the U.S. immigration system. Bringing in one foreign worker on an H-1B visa costs upwards of $40,000 when all is said and done — and that doesn't include their salary once they're here.
But, in every challenge lies a silver lining — and companies that confront challenges head-on often emerge on the other side even stronger. Our company's diverse workforce is a testament to this truth. Welcoming immigrants into our company has played a pivotal role in securing the talent we need. With over 20 nationalities working together, we've developed the skills to bridge cultural divides and are united as a strong, cohesive team.
The beauty of this journey lies in the process of working out the kinks. By adopting a merit-based approach, you can attract and retain the most talented individuals worldwide. Diverse perspectives and expertise enrich our industries, propelling us toward greater innovation and success.
Building Resilience with Compassionate Leadership
Retaining and nurturing skilled employees are essential aspects of addressing worker shortages. Competitive salaries alone are insufficient; leadership must foster a supportive work environment that inspires, motivates, and develops our workforce.
Our leadership has been resolute in focusing on fair wages and creating a stimulating, challenging, and enjoyable workplace. Our goal is for our employees to feel valued and appreciated — and through this, we have witnessed tangible benefits. However, we recognize that our work is far from complete, and our journey toward the thriving success of skilled labor industries is ongoing.
Leaders bear the responsibility of shaping the future of our industries and securing their prosperity for the decades to come. By steadfastly upholding the principles of management and leadership and by prioritizing the well-being and development of employees, we can all pave the path to a workforce that is not just skilled but truly inspired.
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
