
But how can you achieve this goal, and why is it not just about the bottom line?
The first step to achieving this target is to make it a strategic objective and communicate it as clearly as possible. Ensure that these objectives cascade down to the people who are closest to identifying the low hanging fruit and that they appear in their performance objectives. You also need to ensure there are mechanisms for them to identify the obvious and hidden wastes, so they can bring them to their leaders’ attention.
You will be surprised how often front-line operators, supervisors and superintendents shake their heads in despair at questionable practices. This is their opportunity to shine.
Focusing only on financial metrics is not enough to ensure long-term success. To create a resilient business that’s able to scale and grow, your mine sites must also focus on systemic improvements that address the root causes of inefficiencies and waste. This will require a slightly different approach and a bit more effort and resources. So where does the cash come from for that?
By achieving these quick wins you can deliver and leverage immediate financial results.
But it gets better than that: it will demonstrate to your team and other stakeholders that you are serious about improving the bottom line. This will build momentum for further improvements, unlocking more challenging but foundational building blocks of the business. By increasing operational efficiency, redesigning workflows or organisational structures to bust silos and reduce waste, and increasing employee engagement along the way, you can get magical breakthroughs that lead to sustainable bottom-line improvements.