Australia’s most recent mining boom was one of the biggest in the nation’s history. Now that the boom is over, candidates are placing an even greater emphasis on job security than they were five years ago, however salary and compensation remains the number one driver of attraction.
Salary and compensation is the top priority (16.7%) for candidates in the mining, resources and energy industry. Insurance, such as income protection and health, is viewed as particularly attractive, along with additional superannuation, equity in a business, clothing allowances and supplied or subsidised food.
While job security was ranked number three in 2012, it has now moved up to second place (14.5%). The end of the mining boom may account for this shift, however the contract nature of much of the industry may also have an impact.
"Job security will be a deciding factor for candidates in this sector and they’ll be keener than ever to land a permanent, stable and secure role. However, regardless of whether the role is permanent or contract, conditions such as culture, location and facilities, benefits, flexibility of hours, leadership, and learning opportunities assist in attracting top talent in this industry.” - Donna Ison, Senior Consultant, Energy & Resources (QLD) at Davidson Recruitment.
Work-life balance (14.1%) is now the third-greatest driver of attraction for candidates in the industry, moving up from fourth place in 2012. This may be due to rostered work schedules, which often dictate two weeks on and one week off, and also the interstate or overseas travel that may accompany the job.
Job location is now a greater driver for candidates than it was five years ago and has moved up one place to number six. Working environment is now considered less important and has slipped one spot to seventh place. Meanwhile, career development opportunities, which was ranked number two in 2012, has now fallen to fourth place for candidates when choosing their next role.
This may be due to the prevalence of older workers in the industry – 46% are aged over 45 years compared to 32% of the total group. Due to their later life stage, they may prioritise job security and work-life balance over career development. There may also be a greater likelihood that they have children and this may influence their priorities.
The mining, resources and energy industry is characterised by an older workforce and employers have a strong opportunity to delight candidates by focusing on benefits such as insurance and additional superannuation payments. This is likely to appeal to their top two motivators – salary and compensation and job security.
Candidates in this industry are significantly more likely to live regionally (39% compared to 23% of the total sample group) and to be high earners (42% earn over $104k versus 15% of the total group).
About this research: The data points referred to on this page are drawn from the SEEK Laws of Attraction survey. For more information about the SEEK Laws of Attraction survey and the terms and conditions governing the use of this data, click here.