| Growing tensions about the state of the world's natural | | | | around the world have to change the way they do |
| resources workforces have surfaced for a few stark | | | | business with prospective recruits, current employees |
| reasons. These include the industry's increased | | | | and their high performers in order to maximize the |
| appetite for skilled workers, the ongoing challenge of | | | | effectiveness of their workforces and drive |
| convincing enough university students to pursue | | | | consistently high profitability. "They have to start |
| energy-related careers and the considerable | | | | thinking about being more innovative and creative in |
| demographic shift that is beginning to move the global | | | | how they look at acquiring talent," he says. They also |
| post-war generation into retirement. | | | | have to ensure that the talented professionals and |
| Russ Buckland, managing partner of TRANSEARCH | | | | managers they recruit into their organizations land |
| in Canada and global co-leader of the Resources, | | | | smoothly in their new roles, stay long enough to deliver |
| Energy and Inftrastructure practice for | | | | a return on the company's training investment and |
| TRANSEARCH International, says he sees some | | | | reach their full potential. |
| incredible challenges ahead for North American and | | | | But creating a new approach to sourcing, attracting |
| global employers in the oil, gas and mining sectors in | | | | and building a natural resource company's human |
| the months and years ahead. These new pressures | | | | capital will require a significant dosing of change from |
| are being driven, he says, by the acceleration of major | | | | today's status quo. "Executive search is generally a |
| merger and acquisition activity, a so-called commodities | | | | reactive business. I'm suggesting we need to turn the |
| market "super-cycle" that continues to drive the price | | | | paradigm completely upside down. Companies and |
| of oil, base metals and gold, and a demographic shift | | | | search firms alike have to start thinking more |
| that will put an equally high premium on talent. | | | | proactively about talent," Buckland asserts. |
| "The biggest issue facing the Natural Resources | | | | By identifying potential professional and management |
| market is a shortage of talent in all positions and that's | | | | recruits and building a relationship with them before you |
| being driven by Baby Boomer retirements and a lack | | | | may wish to hire them, Buckland says, natural |
| of talent acquisition in the down times of the 1980s and | | | | resources companies can dramatically reduce |
| 1990s, around the time when I presented a paper at | | | | time-to-hire and "cycle time for replacement." They |
| the CIM asking, 'Where Has All The Talent Gone,'" | | | | can also gather important market intelligence that can |
| Buckland says. | | | | inform not only recruitment strategy, but corporate |
| Buckland explains that there is a huge gap in the | | | | strategy as well. |
| Natural Resources workforce globally and that the | | | | The candidates with the best credentials are |
| shortage of talent is especially acute among workers | | | | increasingly expecting to learn and know far more |
| ages 30 to 45. That's because of the business cycle | | | | about prospective employers than ever before. Top |
| and how it has pushed companies to hire only in fits | | | | talent will gravitate to natural resources companies that |
| and starts, because of consolidation and an overall | | | | are proactive about talent acquisition and develop a |
| "lack of feeding the talent pipeline previously." | | | | relationship with them to help educate them about their |
| "The war for talent between the companies is intense | | | | markets, competition and new opportunities. |
| and compensation is being driven upward," Buckland | | | | In other words, talented people want to see |
| says. "People don't want to join losing companies, so | | | | prospective employers invest time with them, and |
| companies have to have a strong overall position to | | | | that's so vital because they have an increasing number |
| attract the best talent," he contends. "Talent acquisition | | | | of employment options to consider and the winners in |
| and retention has to become a strategic imperative for | | | | the war for superior natural resources talent will be |
| natural resources companies. If they don't, those | | | | those that differentiate the recruiting process. "In the |
| companies won't attract the right people, they won't | | | | past, people needed companies. Today, companies |
| keep people and they won't compete for the best." | | | | need people, so the nexus of the relationship needs to |
| Buckland says that natural resources employers | | | | change," Buckland says. |