September 1, 2023
My Dear Fellow Miners,
While Australia’s mining industry is a bedrock of its economy and finds itself at a pivotal juncture. While confined here at my desk, I came across your recent statement regarding the labour crisis, calling it an unforeseen challenge during the COVID-19 pandemic. But since I feel that people generally have genuine good will and this criticism of the industry is sincere, I have looked deeper into this problem with the help of research from Accenture, the British Journal of Management, and local stories to deliver insight and impact on the shortage of especially young, skilled workers in mining and metals across the globe.
I think we should all go digital because it’s a necessity, not a luxury as Accenture’s research sends a clear message on this – technology is the bedrock of growth. Companies with a strong tech focus don’t just mine success; they strike it rich, boasting five times the growth rate compared to their peers. However, there’s a catch. The mining sector is stuck between a rock and a hard place. A report from the Boston Consulting Group reveals that it’s 40% less digitally mature than similar industries, and its need to break free from this injustice to adapt to a digital future.
Moreover, I am cognisant that nearly half of the workforce is over 45, indicating an impending skills shortage, and young talent seems rare, with the number of students enrolling in mining-related programs dwindling. There is also a lack of awareness about mining careers amongst this demographic, however, there is a compelling correlation between digital transformation and talent attraction. This is where the magic happens.
Young, tech-savvy talents are drawn to companies that resonate with their digital fluency. They seek organisations where innovation is a way of life, and where they can make a real impact. In the mining sector, companies that lead the digital charge are attracting the cool kids on the block.
You deplore the countless roles that go unfilled. From administration assistants to mining engineers, the list goes all the way to the C-Suite. But with the increasing demand for ESG reporting, the crisis doesn’t stop there for your… our industry.
Environmental, Social and Governance reporting isn’t a mere obligation; it’s a compass for sustainability throughout the entire lifecycle of a mine. With global concerns on flexible policy combined with rise in cost of commodities to usher in green technology, mining companies must demonstrate their commitment to these principles.
The link between ESG performance and talent attraction and retention is irrefutable. The impactful Climate Change: Young people very worried – survey, revealed that a staggering 60% of young people express concern about climate change, and 45% of young people admit that their feelings about climate change affect their daily life (Harrabin, 2021).
I hope this letter finds you strong in your conviction, because companies like PX4 offer hope through cutting-edge software solutions that simplify ESG reporting. These tools are more than just Regulatory Tech; they’re enablers of transformation, streamlining compliance and empowering mining organisations to navigate complex environmental regulations with ease. What’s more, is that these flexible policies, which grant companies the freedom to meet sustainability targets within a certain scope, spark motivation and opportunities for environmental action. Rapid adaptation to new regulations can even provide a competitive advantage in domestic markets.
It’s worked for us, now let’s make PX4 work for you by helping you address the challenges of a labour market crisis, an evolving workforce, and a digital renaissance by seamlessly migrating your data into our system. This way, you can wholeheartedly embrace the digital transformation and complete your ESG reporting with ease. Simultaneously, a modern, digital tools like PX4 can supercharge efficiency by up to 35% (time-savings statistic in prospectus) which in turn, rejuvenates the industry. Therefore, it will attract a younger, tech-savvy workforce. By adeptly navigating these changes, I can assure you that it will usher in a brighter and more promising future in a world increasingly committed to environmental and social responsibility.
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Yours,
PX4 Studio Sessions.
