Gen Z sees lack of commonality with natural resource companies
Mining and oil and gas companies say they find it difficult to attract and retain early career professionals as Generation Z turns away from the natural resources sector.
Globally, natural resources businesses are finding it increasingly difficult to encourage a new generation into the workforce and need to do more to align their recruitment strategies with young people’s expectations and aspirations, according to new research by global accounting and business advisory organisation, BDO.
The survey captures viewpoints from 267 natural resources industry leaders, 234 school students and 256 university students across Australia, Canada, Latin America, South Africa and the UK.
The research finds that this group make pragmatic career decisions based on personal concerns such as job security, career progression and recognition for work delivered. These three factors are rated important or essential by 90%, 85% and 82% respectively of the Gen Z representatives surveyed by BDO.
They hold employers to high ethical standards and want to achieve a higher purpose through their employment. Two thirds (66%) of those surveyed say having a career that positively impacts local communities is important to them. 59% say positively impacting the environment is important.
The natural resources industry has been slow to respond to these changing attitudes and promote the work done in these sectors. Although 42% of the natural resources corporates interviewed believe their sector has made good or significant efforts to improve its approach to social responsibility, BDO’s research reveals more is needed.
Just 15% of school and university students said they would be very interested in pursuing a career in mining and 14% said the same for the oil and gas sector.
This comes at a time when 51% of natural resources companies expect an increase in the size of their workforce over the next six months with recruitment efforts focused on addressing digital and data skills gaps.
Over half (55%) of corporates surveyed say they have dedicated programmes in place to attract a more diverse talent pool. The most forward-thinking organisations are embracing diverse talent strategies, including establishing dedicated funding to support Gen Z into the sector, refreshing non-financial reward packages to compete with other industries, developing closer partnerships with schools, universities and government and communicating much more clearly the positive role that natural resources companies can play in the transition towards a low carbon economy.
More like this
