one challenge transcends national borders. It also presents a strikingly similar long-term growth barrier for nearly all of the world's leading natural resources companies – that is, the scarcity of human capital and skilled leadership talent.Looking ahead to the issues that will frame many Natural Resources challenges across the Latin America region, Jorge Velaochaga, managing partner for TRANSEARCH Peru and Regional Director for Latin America, says the business cycle will inevitably bring change.
"The industry will continue growing but companies and top executives should be cautious since we might eventually enter into a new downturn in the economy," Velaochaga says. "The challenge thus is to harmonize both perspectives avoiding the 'over expectation' syndrome that could put compensation packages at levels that are not sustainable."
He says natural resources companies across Latin America are facing pressure to recruit and retain personnel in general, not only at the top executive levels. Some companies have taken steps to improve working conditions at sites while others have implemented new human resource policies to help attract new talent into their workforce.
Velaochaga explains that these new approaches to workforce engagement and retention have put natural resources managers into a position from which they are building teams, inviting innovative ideas from the workforce and engaging in honest dialogue about career progression within their workforces.
Latin America continues to demand and draw from a truly global pool of executive talent in natural resources through executive search assignments, he adds, and given the competition for the best leaders, it's likely that many more companies will need to recognize that many of their vacant leadership positions could indeed be filled by strong, adaptable executives coming from other sectors.
No comments:
Post a Comment