Hey mining and mining adjacent industry titans! Are you feeling the tremors? No, it’s not another seismic event—it’s the rumbling of Gen Z stepping into the workforce, ready to shake up your old-school leadership styles.

The Profit-Over-People Paradigm

In a town like Kalgoorlie where the mining industry reigns supreme, it’s no secret that businesses can make a killing without needing to be stellar leaders. The bottom line is always strong, so why bother with something as “soft” as employee experience, right? Well, hold onto your hard hats, because change is coming, and it’s driven by the next generation of workers.

The Ripple Effect of Ignoring Employee Experience

So, what happens when businesses stick to their profit-over-people guns? For starters, employee turnover skyrockets. High turnover means more time and money spent on recruiting and training new hires, not to mention the loss of corporate knowledge. The best talent will leave for companies that value them as individuals, not just as cogs in the profit machine.

Moreover, a poor employee experience can tarnish a company’s reputation. Companies known for treating employees poorly may struggle to attract top talent and could even lose customers who prefer to support businesses with ethical practices.

Gen Z: The Game Changers

Gen Z, born between 1997 and 2012, is bringing fresh expectations to the workplace. Research from Gallup shows that this generation values purpose, development, and a sense of belonging over just a paycheck. They want to know their work has meaning and that their leaders care about their growth and wellbeing.

Josh Bersin echoes this sentiment, highlighting that Gen Z expects more from their employers in terms of transparency, ethics, and social responsibility. They’re not just looking for jobs; they’re looking for workplaces that align with their values and aspirations. And the research backs this up, showing that companies with strong employee engagement and development programs see significant boosts in productivity and profitability.

Young employees don’t leave for better opportunities, they leave because you’ve given them no compelling reason to stay.

The Wellbeing Factor

Mark McCrindle’s research on wellbeing is a wake-up call for any business ignoring the human side of work. Wellbeing isn’t a buzzword; it’s a crucial element of a thriving workplace. McCrindle found that wellbeing initiatives lead to higher employee satisfaction, lower turnover rates, and better overall performance. In an industry as demanding as mining, where stress and burnout are common, prioritising wellbeing can make a massive difference.

Mining’s Image Problem

McKinsey’s report, “Has Mining Lost Its Luster? Why Talent is Moving Elsewhere and How to Bring Them Back,” highlights a growing concern: mining is no longer attractive to young talent. The industry’s image problem is driving potential employees towards tech, renewable energy, and other fields perceived as more innovative and socially responsible.

McKinsey’s recommendation? Workplace culture should be as strategic as operations. This means investing in leadership development, fostering inclusivity, and creating a work environment that resonates with the values of the modern workforce.

The Business Case for Change

Let’s flip the script. Imagine a mining town where businesses invest in their employees. They offer competitive salaries, robust training programs, and wellness initiatives. Leaders listen to their teams and make decisions that benefit both the business and its people.

What do you get?

Higher employee engagement, stability, better performance, and—surprise, surprise—increased profitability.

Research shows that companies with high employee engagement outperform their peers by 147% in earnings per share and are 21% more profitable.

That’s not just a feel-good stat; it’s a compelling business case for putting people first. Engaged employees are more productive, more innovative, and more likely to stick around.

Actionable Steps for Leaders

1. Listen and Learn: Engage with your Gen Z employees. Conduct surveys, hold focus groups, and genuinely listen to their feedback.
2. Invest in Wellbeing: Implement programs that support mental and physical health. Flexible working arrangements, mental health days, and wellness initiatives can go a long way.
3. Develop Your Leaders: Equip your managers with the skills to lead in a more inclusive, empathetic, and effective way. Training programs focused on emotional intelligence and modern leadership practices are key.
4. Cultivate a Positive Culture: Foster an environment where employees feel valued, respected, and part of something bigger. Recognition programs, team-building activities, and transparent communication can help build this culture.
5. Embrace Innovation: Stay ahead of the curve by adopting new technologies and practices that make mining safer, more efficient, and more appealing to the next generation of workers.

Conclusion: The Future is Bright

Mining companies have a golden opportunity to transform their workplaces into environments where employees thrive. (See what I did there 😉) By embracing the expectations of Gen Z, prioritising wellbeing, and making culture as strategic as operations, they can not only attract top talent but also drive their profitability to new heights. The future of mining isn’t just about what you extract from the earth; it’s about what you cultivate within your workforce.

Need help navigating the changing landscape of workforce expectations? We’re here to make HR easy and help you build a workplace that shines. Contact us today!

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If you would like a strategic approach tailored to your specific business needs contact us to arrange an obligation free chat about how we can help.Through impactful HR we create a positive employee experience every time.We aim to create future-focused, people centred HR solutions to accelerate organisational and employee wellbeing, engagement and performance by making HR easy.

THE PEOPLE & CULTURE OFFICE SUPPORTS HR TEAMS AND ORGANISATIONS AUSTRALIA-WIDE TO TAKE A FRESH APPROACH TOWARDS THEIR PEOPLE AND CULTURE FUNCTION.