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Mining’s talent problem. As the clean-energy transition gains momentum, demand is growing for the minerals used in renewable-energy technologies. However, the mining industry faces a workforce crisis as young professionals are reluctant to join a sector that’s often seen as stagnant and environmentally damaging. The number of students in mining programs has been declining for years, and companies are having trouble finding new hires as many workers near retirement. The US and other global mining centers, including Australia and Canada, are particularly affected by this shortage. [Grist]
Recruiting younger workers. Many industries that the global economy depends on—including agriculture, defense, and oil and gas—are grappling with efforts to attract younger workers. These potential employees are worried about those sectors’ ethics, pay, sustainability, and working conditions. Immigration restrictions and a mismatch between the degrees that students pursue and the skills that employers are looking for worsen the talent shortage. To attract future generations, companies should fully explain the critical role that their sectors play. [FT]
Something old; something new. Energy companies have their work cut out for them amid the transition to clean energy. They need to maintain their core businesses but also move into low-carbon offerings, power, renewables, and retail. To be successful, they should be agile, efficient, and fast—all while operating in an industry for which talent is scarce, potential M&A is looming, and generative AI is poised to shake things up, share McKinsey partners Ignacio Fantaguzzi and Christopher Handscomb.
Adding value for employees. Global energy leaders have to consider four important themes—leadership, M&A, operating models, and talent—that are critical to success. Regarding talent, the energy industry is plagued by high attrition rates. Many businesses in the sector are focusing on improving the value that employees get from their jobs, including a mix of benefits, company culture, compensation, and work–life balance. Explore the report The State of Energy Organizations 2024 for five strategies that can help energy executives fill their talent pipelines.
—Edited by Jana Zabkova, senior editor, New York
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