The global mining industry continues to be diverse and rewarding, despite its challenges, but what are the large producers and the smaller local players doing to surmount social, environmental, regulatory, and economic hurdles? Furthermore, what are the executive recruitment challenges for 2017?
Although the industry is showing some encouraging signs of recuperation, mining enterprises are reluctant to risk large amounts of money, and are instead keeping their investments at controlled levels. As part of its initiative to stay on top of new industry trends and insights, Pedersen & Partners has carried out regular surveys of mining industry executives since 2013. The 2017 data is based on surveys received from 114 mining industry executives worldwide. According to the data, over half of the respondents (51.7%) intend to maintain their headcount at their current state, with 28% intending to increase and 14.9% aiming to reduce it. The leaders of global and regional companies alike are looking for new ways to identify growth opportunities: 56.7% of the respondents predict that the industry will grow in the first half of 2017, while 37.3% predict stasis.
The demand for and consumption of raw materials and commodities will eventually increase and balance out the effects of globalisation and its relationship to mineral nationalism and localised trade policies. This will create a rebound in the sector as a whole, increasing the pressure on organisations to attract and retain a dwindling talent pool. The long-term effects of this downturn on compensation in the mining industry remain to be seen, as does the increase in innovation within the sector. A moderate upturn in the industry was indicated by the attendance at the PDAC (Prospectors and Developers Association of Canada) Convention this year, which was more than 24,000 (up from 22,000 last year) and brought in companies and executives from around the world. The general atmosphere was much more positive than last year, although there is still a strong dichotomy between those who remain “bearish” about the market and the seeming majority who feel the market will become much more “bullish.”
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Mary Murray is a Consultant at Pedersen & Partners, based in Canada. Ms. Murray has almost 20 years of experience in providing strategic human resources, human services and customer service guidance to local and international clients in the mining, environmental, and natural resources sectors. Over the course of her career, Ms. Murray successfully implemented complex corporate talent acquisition initiatives, having completed numerous cross-border Executive Search assignments with two global Executive Search firms, and with one of the largest mining specialist recruitment consultancies in the world. Prior to rejoining Pedersen & Partners, Ms. Murray was the Vice President responsible for Executive Search for a leading American recruitment consulting practice with a focus on the mining and natural resources industries, advising on CEO, board and senior leadership solutions. She previously held several business roles for top industrial companies, such as: Hatch, ABB, and GE Water and Process Technologies, where she built and managed international talent acquisition projects.
Pedersen & Partners is a leading international Executive Search firm. We operate 56 wholly owned offices in 52 countries across Europe, the Middle East, Africa, Asia & the Americas. Our values Trust, Relationship and Professionalism apply to our interaction with clients as well as executives. More information about Pedersen & Partners is available at www.pedersenandpartners.com
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