| Sustained worldwide demand for natural resources is | | | | eventually enter into a new downturn in the economy," |
| pushing investment in oil and gas exploration and | | | | Velaochaga says. "The challenge thus is to harmonize |
| production, mining and alternative natural resources | | | | both perspectives avoiding the 'over expectation' |
| such as wind and solar while the pace of research in | | | | syndrome that could put compensation packages at |
| new and renewable energy sciences continues to | | | | levels that are not sustainable." |
| elevate. | | | | He says natural resources companies across Latin |
| But one challenge transcends national borders. It also | | | | America are facing pressure to recruit and retain |
| presents a strikingly similar long-term growth barrier for | | | | personnel in general, not only at the top executive |
| nearly all of the world's leading natural resources | | | | levels. Some companies have taken steps to improve |
| companies – that is, the scarcity of human capital | | | | working conditions at sites while others have |
| and skilled leadership talent. | | | | implemented new human resource policies to help |
| Looking ahead to the issues that will frame many | | | | attract new talent into their workforce. |
| Natural Resources challenges across the Latin | | | | Velaochaga explains that these new approaches to |
| America region, Jorge Velaochaga, managing partner | | | | workforce engagement and retention have put natural |
| for TRANSEARCH Peru and Regional Director for | | | | resources managers into a position from which they |
| Latin America, says the business cycle will inevitably | | | | are building teams, inviting innovative ideas from the |
| bring change. | | | | workforce and engaging in honest dialogue about |
| "The industry will continue growing but companies and | | | | career progression within their workforces. |
| top executives should be cautious since we might | | | | |