CAREERS, COMPETENCIES (AND COMPENSATION): HUMAN RESOURCE CRISIS IN THE MINERALS INDUSTRY

The human face of Economic Geology is changing, driven by demographics as well as societal values. Of the current practicing professionals half will retire in the next decade. This potential crisis can be seen as an opportunity. It offers outstanding opportunities for the next generation of companies, university departments and geoprofessionals as they deliver technical, business and social competencies necessary to prosper in the global business world of today and tomorrow.

The mining profession, like virtually all of its peers employing technically-oriented practitioners, has a relative excess of baby-boomers. This phenomenon has many consequences. Among them:

• A missing generation. Career opportunities for younger geoprofessionals were limited.

• Misaligned values. Whilst professionals and societal values continued to evolve, the minerals industry and many of its peers fell (or were perceived to fall) increasingly out of sink with today's values.

The next generation of managers and leaders in the minerals industry will have an unprecedented opportunity to practice their technical competencies in a business and social environment of their making.

Time is of the essence. Baby boomers are poised to retire. Before we face a numbers crisis we will face a competency crisis as ill-prepared professionals assume leadership and management positions. Preparing graduates for management and leadership roles will take no less than ten years. The crisis is upon us today.

An opportunity? The potential challenges are obvious. The potential solutions are many. The best companies, the best universities and the best young professionals will seize this potential crisis as an opportunity to define the business practices and lead the business successes of tomorrow's minerals industry.