How do we adapt to attract/retain top talent in the mining industry (Part 1)
Our workforce is rapidly changing with Baby Boomers transitioning to consulting or retirement, we look toward Generation X and Millennials and to take over key managerial roles within the mining industry. How do we adapt to attract/retain talent in our industry?
· Dates/sizes of each group
· Key traits/values in each group
· Examination / what does this mean for mining?
Mining industry employee demographics mirror that of the rest of America. It’s young, it’s agile and it’s not status quo. Generation X and Millennial employees, those born roughly between 1965 and 1996, make up about 75% of the workforce today. And all of its future. Knowing how the mining industry can attract and retain talent in the youngest generations is key.
Baby Boom company leaders are quickly retiring and Gen X is moving into C-suite roles while Millennials are nipping at their heels. How should we transition between these three disparate generations with wildly differing outlooks on work and running a business? Let’s take a look at their characteristics.
Signature traits of Millennials, but by no means stereotypical of all, include:
· Flexibility and a desire to work hard inside and outside of traditional office hours. They practically invented the phrase “work-life balance”. They may not keep traditional hours, but have no issue logging in to work late at night when deadlines demand it.
· A high degree of corporate social responsibility. They like working for companies that do well by the environment and ensure sustainability, but they also demand the devices and objects that mining provides. Expect these employees to lead the charge and align company values with their own. They’re uniquely situated to showcase the entire mining continuum.
· Lifelong learning. A final important trait is one I’ve written about before. With the documented skills gap in our industry, Millennials have a desire to continue learning. Knowing we want to retain smart and driven employees, allow them to continue learning and broaden their skills with your company. It’s is a win-win for their happiness and the entire mining industry.
Generation X can be described as old enough to understand Baby Boomers and young enough to understand Millennials. They’re vital in our organizations right now.
Signature traits of Gen Xers include:
· An appreciation for face-to-face conversations and handshake deals. They grew up largely without computers and are talented at collaboration. They also aren’t shy about resolving conflicts in person.
· They’re motivated by independence. After all, many of these employees were latchkey kids. They have no problem spending several hours alone on a project, or cooperating with a group to meet a deadline. In fact, 55% of startup founders are Gen Xers.
· They’re comfortable with and value the changes the digital age has brought. From the first Atari or TRS-80 in the family home to all of the home/work/family digital interfaces today, they’ve ridden the wave of every new breakthrough. They’re as well-versed in Microsoft Word’s Track Changes (and previously pagers and Palm Pilots), as they are in mastering Slack or Podio alongside Millennials.
As older executives are leaving the workplaces, right now Gen Xers are making the transition for us. They walk the line between Boomers and Millennials, between the old-fashioned image of mining to the new clean, sustainable image. That alone could be their greatest asset.
For mining, this means we must pay attention to them all. See what each group brings to the table and grasp how differing styles can weave their ways into your corporate structure. Together it will create a corporate fabric that’s stronger, broader and more inclusive.
Read part 2 as we discuss the next Generation…Z and their entry into the workforce.
Looking for your next team member? Contact me I would love to hear from you and help you work to grow your team of tomorrow.
If you’re looking to make a career change, MRC can help connect with us or submit your resume.