After five years of global consolidation and growth, the metals industry faces some of the greatest long-term human capital management challenges: the talent crisis; an ageing workforce in the Western world; the rising demands for global worker mobility as well as the organisational and cultural issues emerging from the dramatic pace of change in the past ten years. At the same time, a turbulent economic situation is bringing people related costs into sharper focus than ever before. The lack of availability of key skills may pose a threat to business growth and the problem is likely to increase as the nature of the skill set needed changes.The metals industry has not traditionally been seen as one of the most attractive industries to work in. The inability to attract and retain talent, including young people, is a potential threat to business growth. As metal companies expand their geographic reach, they will face new challenges in terms of ensuring that they are able to get the right people in place on projects in diverse locations. Management needs to devote more time on people issues during periods of strategic change.
How PwC can help you
PwC advice on people in the sector is multidisciplinary. With our tax practice, we advise on the international mobility strategies, as companies seek to get the right people on projects around the world. Our advice – to companies and high net worth individuals – includes tax structuring advice within the human resources function. Within our Human Resource Services practice, we advise companies on their recruitment, retention and reward strategies in order to help the industry attract talent and retain a highly skilled workforce. Following industry transactions, we also advise companies on their change management and people strategies post-merger.