When we talk about the “gray wave,” we are referring to the experienced baby boomers who are retiring, not only in the Chilean industry but in most other industrialized countries as well.
Chilean mining companies are grappling with the challenges associated with the gray wave, and although today’s senior generation – unlike the previous one – still has thread on the reel, it is common for these individuals to be forced to retire on their 65th birthday.
It is interesting to note that the official retirement age in most European countries has been raised to sixty-seven, not so in Chile, where people over sixty-five sometimes also simply do not have the luxury of leaving paid work yet.
The Study “Labor Force in Chilean Big Mining 2023-2032” by the Mining Skills Council (CCM) projects that, by the end of the decade, more than twenty-seven thousand people will have retired from mining companies and contractors.
Aside from the challenges of the replacement of senior employees combined with a large gap in new labor supply, this bleeding of experienced talent and knowledge presents companies with significant challenges – if not threats – including: