One of the most pervasive challenges facing asset-intensive organisations remains the changing workforce landscape. The demographic shift is accelerating as experienced personnel retire, taking with them decades of institutional knowledge, while organisations struggle to attract and develop new talent. According to Engineers Australia’s 2024 Engineering Skills Forecast, 62% of organisations in asset-intensive industries report critical shortages in maintenance and reliability engineering roles. The forecast projects that Australia will face a deficit of approximately 25,000 qualified maintenance professionals by 2027 if current trends continue. A 2024 analysis by the Australian Industry Group reveals that maintenance technician positions take 83% longer to fill compared to five years ago, with regional operations facing even greater recruitment challenges. The Australian Institute of Mining and Metallurgy’s workforce study found that 37% of technical knowledge in mining operations is undocumented and resides solely with experienced personnel. Their research suggests organisations lose approximately 4.5% of critical operational knowledge annually through retirements and staff turnover.

We’re experiencing a perfect storm - losing experienced people faster than we can replace them, while also dealing with changing skill requirements due to new technologies and decarbonisation. It’s not just about filling positions; it’s about transferring critical knowledge before it walks out the door. -Maintenance Manager, Power Generation

Our research indicates that 68% of organisations report critical knowledge gaps in technical roles, with 47% having trouble filling specialised maintenance and reliability positions. This challenge is particularly acute in regional and remote operations, where competition for skilled labour has intensified.

We have to create a capable, balanced and stable workforce in an unbalanced and unstable economic/political environment. -Head of Asset Management, Aviation & Defence

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The nature of workforce challenges has evolved from previous years in several ways:

How Different Generations Approach Things

Different learning styles and career expectations between experienced workers and newer generations require organisations to rethink knowledge transfer mechanisms. While experienced workers often relied on memorised procedures and informal knowledge sharing, younger workers expect digital access to information and structured development pathways.

The newer workforce wants to understand the ‘why’ behind everything. They won’t just follow procedures because ‘that’s how we’ve always done it.’ They expect information to be accessible digitally, and they’ll question established practices, which can actually drive improvement if we manage it properly. -Reliability Leas, Mining

Research from Deakin University’s Centre for Workplace Futures indicates that Generation Z workers in technical roles are 3.2 times more likely to seek employment elsewhere if they perceive knowledge is being hoarded rather than shared.

The Australian Manufacturing Growth Centre has identified that companies implementing cross-generational mentoring programs see a 28% improvement in time-to-competency for new maintenance professionals and a 36% increase in retention of institutional knowledge when senior staff retire.

Digital Skill Requirements

The increasing digitalisation of asset management has created new skill demands that traditional training pathways may not address. Organisations report significant gaps in data analysis, automation, and technology integration skills, even among technically proficient staff.

Most organisations that participated in our research have implemented or are implementing at least one new digital solution in their maintenance function, but only a small group feel they have adequate internal capabilities to maximise the value of these investments.

Flexible Work Expectations

Post-pandemic workforce expectations have permanently shifted, creating tensions between operational requirements and employee preferences. Organisations are grappling with how to provide flexibility for roles traditionally requiring physical presence, while addressing perceived inequities between office-based and field personnel.

The Hidden Impact of Career Perception

A growing concern rarely discussed openly is the diminishing appeal of maintenance and reliability careers to younger generations. While engineering graduates still express interest in design, innovation, and sustainability roles, maintenance functions are often perceived as less dynamic or cutting-edge. This perception challenge compounds the demographic shifts already in progress. Our interviews revealed that schools and universities rarely promote maintenance and reliability engineering as desirable career paths, instead emphasising manufacturing innovation, software development, and renewable energy design. Without deliberate intervention to reshape these perceptions, the talent pipeline will continue to narrow.

Multi-generational Knowledge Exchange Barriers

The knowledge transfer challenge is further complicated by fundamental differences in how generations process and share information. Traditional knowledge transfer approaches often fail because they don’t account for these differences. Experienced workers may struggle to articulate tacit knowledge they’ve internalised over decades, while newer workers may reject information that isn’t presented with clear context and rationale. These barriers require a complete rethinking of knowledge management approaches, moving beyond simple documentation to interactive learning experiences that resonate with different learning styles and generational preferences.

Strategic Approaches

Leading organisations are addressing these challenges through multifaceted strategies:

• Creating formal knowledge capture mechanisms through structured documentation, video tutorials, and collaborative platforms
• Implementing reverse mentoring programs pairing experienced technical staff with digitally savvy newer employees
• Developing modular training programs that accommodate different learning styles and provide clear progression pathways
• Redesigning roles to incorporate increased flexibility where possible
• Engaging with educational institutions to shape curriculum relevant to future asset management needs

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