Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Mining has recovered and hiring is back, according to a Canadian salary survey released by Hays this week.
“Demand remains high for skilled tradespeople, as well as high-potential engineers,” writes the authors of Hay’s 2018 Salary Guide.
“One area we are seeing a noticeable increase in hiring activity is at the C-Suite and VP levels. Companies are looking for key people to transform organizations, progress projects, and attract capital.”
Select charts and report excerpts are below.
Business activity growth was higher than average in the resources and mining sector, but looking ahead these employers are cautious with their expectations. Sixty-one per cent say business activity will grow next year – 13 per cent lower than average.
Hiring activity follows a similar trend to business growth, with higher than average headcount increases in 2017, but conservative plans for 2018. Twenty-one per cent of resources and mining employers say they will increase headcount next year, which is 55 per cent lower than average.
A similar proportion of resources and mining employers offered salary increases in 2017 compared to the overall results, however, these respondents were more likely to say they offered increases of three to 4.9 per cent. Looking ahead, twice as many resources and mining employers say they will offer salary increases in this range compared to average.
Creative Commons image of mining opening by Chris Manacop
