Workforce stability is important for profitably in mining, but it gets affected by high turnover rates and pricey subcontractors. This bumps up operational costs and impacts on the quality of work.
There are strategies to break this cycle and foster a skilled, committed workforce aligned with long-term goals, thereby reducing the need for costly external support.
Let’s find out how we can achieve this and drive sustainable success and significant cost savings.
Why Workforce Retention Is Crucial in the Mining Industry
Employee retention in the mining industry is not just an HR challenge—it’s a critical factor that directly affects productivity and operational costs. In a sector where stability is key, maintaining a consistent workforce is essential for success.
For decades, the Canadian mining industry has faced a persistent shortage of skilled Heavy Duty Equipment Technicians. This shortage has resulted in increased dependence on external contractors, driving up labour costs and impacting profitability.
Investing in training and upskilling programs plays a pivotal role in improving retention. A well-trained and engaged workforce stays longer, which in turn boosts productivity and supports sustainable growth.
Strategies that Have Proven to Decrease Reliance on Subcontractors
1. Workforce Training and Development
Many organizations face slow, complex training processes that make them hesitant to hire new talent. This often leads to relying only on long-standing employees rather than using training to attract fresh, skilled workers.
- Upskilling Programs enable businesses to reduce reliance on expensive subcontractors by building up a skilled and dedicated heavy duty maintenance team.
2. Workforce Planning
To strengthen internal workforce capabilities, businesses need a strategy to solve critical heavy equipment maintenance skills shortages for the long term.
- Foster new partnerships and collaborate with service providers who share risk, provide innovation, and are committed to investing in innovative and strategic solutions.
- Workforce planning is the first step;however, this always includes an organisationswillingness to face up to why skills shortages exist and also establish what changes are required to attract, build and retain a new pipeline.
3. Develop the Talent Pipeline
Relying exclusively on subcontractors may offer short-term relief, but these are only temporary solutions. Without tackling the root cause of the talent shortage through effective workforce planning, these quick fixes will ultimatelyfail under pressure.
Organizational Culture to Positively Influence Workforce Retention
Businesseswho see the most significant results are those with strong leadership, willingness and commitment to change.
Investing in workforce planning and talent upskilling can yield significant benefits, including increased productivity, higher employee retention, enhanced company culture, reduced skilled labour costs blow-outs. Explore the mining industry-specific solutions here.
