The talent shortage in mining is real and staying ahead of the competition with recruitment is crucial. But one of the most valuable assets that mining companies can cultivate is their employees.
Providing opportunities for professional growth and learning, not only benefits individual workers but also brings significant downstream business wins.
You can improve employee retention rates, boost productivity, and create a culture of innovation and growth.
Many companies ask themselves, Won’t it be a waste of time and money if we invest in professional development and employees leave?
“A better question would be to ask, What will happen if we ignore the need for professional development and employees stay?” says Judy Wakefield, RPO Manager for Globe 24-7.
“While companies have a clear idea of what professional training costs, they often ignore the real question, What is the cost of not providing training?” explains Judy.
To stay ahead of the game, mining companies must explore other strategies beyond recruitment.
“The most progressive and successful companies we work with invest heavily in training,” says Judy.
In this article, we’ll delve into the top four benefits of prioritising employee growth opportunities and how they can contribute to the success of your mining company:
1. Create happy, loyal, and productive employees
Employees are more satisfied working in companies that express a genuine interest in helping them develop the skills they need to advance their careers.
Happy employees are more loyal, and loyal employees are more productive. According to research by the World Economic Forum, there is a correlation between happy employees and successful organisations.
Companies that invest heavily in training see their investment pay off with better performance, higher productivity, and more loyal employees. A study by the University of Oxford suggests the productivity payoff is as much as 13 percent.
2. Improve employee engagement and motivation
According to Deloitte, learning opportunities are among the largest drivers of employee engagement and strong workplace culture. Engaged employees are key to thriving business success.
As your employees acquire new skills and abilities, they gain the confidence to embrace new ways of doing things, improve their overall performance, and efficiency. And their relationships with colleagues and customers improve, leading to better business results.
They become more engaged, excited, and motivated to try new approaches and inspire others to do the same—becoming great company ambassadors.
3. Develop a team equipped to stay ahead of the competition
Professional development equips your employees with the knowledge and methods to ensure your business remains current and ahead of the competition.
Every employee represents an investment of both time and money. Training empowers your employees to achieve more, it boosts individual and team performance, and your company benefits.
4. Improve recruitment and retention
Organisations that experience high turnover justify their unwillingness to train by claiming that the investment will be wasted when people quit. This self-fulfilling prophecy allows turnover to remain high when employees leave.
Those who stay become poor company ambassadors. Word spreads that their business doesn’t provide training and that begins to show in the employer brand within the market.
Once your company becomes known as a place that embraces professional development as a large part of its culture, talented people want to work with you. They know they will grow with you. If your culture values commitment and loyalty, and you provide employees with opportunities to grow and enhance their careers, they will want to stick with your company.
Richard Branson said it best:
“Train people well enough so they can leave, treat them well enough so they don’t want to.”
Remember, when employees feel valued, they remain loyal.