Mongolian Business Start up Lessons
What I have learned
After recently spending a couple of weeks in Ulaanbaatar, I am still at the stage where I don’t know what I don’t know. What I did learn is that Mongolian people, with the great opportunities sitting in front of them, are rightfully very protective of their national assets and their heritage and justly cautious of exploitation of the mineral wealth the country possesses.
It’s a fine balance for Mongolia, of opening the door wide enough to allow experienced mining, exploration and investment companies to warm themselves by the fire, but not wide enough to allow them take over the industry. That said, the economy will stall without significant foreign investment, not only in mining, but in agriculture, manufacturing, finance and technology. The investment simply needs to be responsible and sustainable, with Mongolia as the primary consideration; the prospect of lining your pockets will have to be a long-term goal.
Mongolians are Mongolia, and Mongolia is Mongolian; with a unique heritage and history. It is a distinctive country, with a truly independent people. Comparing the country to anywhere else in the world is not really possible, or advisable for that matter. It is true that some Western companies have much to offer the eager generations of students, workers and business people in terms of training development and experience. The youth of Mongolia literally have the world at their fingertips with the economic growth of the nation. It is impressive how on the whole, that opportunity is met not with greed, but with a responsible approach to developing sustainable businesses, with a vision of a sustainable future. Despite the uncertainty brought about by upcoming elections, whatever the outcome, it will be the choice made by the people and that will be the right choice for the country.
You need to earn your stripes as a guest company and employer in Mongolia through working with locally owned businesses; identify shared, long-term objectives with your in-country partners and ensure national participation and ownership in all areas of business. Provide training and development programs with substance and demonstrate your genuine intent to approach business in Mongolia in a bespoke way. This will set your business a foundation for success.
Because of the far-reaching vision of a sustainable, nationally dominated industry, training focus and recruitment partnerships are an important aspect of doing business in the Mongolian mining sector. I see great opportunity for Globe 24-7 in this area, with a track record of providing high volume – low margin, partnered recruitment process outsourcing (RPO); mobilising our team to site or to corporate offices to establish recruitment process, train HR teams in-house and set up internal HR and resourcing teams for success in what will definitely be a market short on experienced, skilled mining professionals for some time. I have also seen the mutual benefits of teaming up with a local training institution, to ensure seamless and “ready now” training for employees and new recruits, and have had some excellent discussion within the mining sector about scheduling a ‘workshop road-show’.
Thanks for Your Hospitality
Thanks to all of those who made me very welcome in Ulaanbaatar. It was great to have such enlightening discussion around resourcing and training in the Mongolian mining industry and it was satisfying that Globe 24-7’s HR consulting, executive search services and our local and international resourcing capabilities were well received by all. To the select group of mining companies who discussed our Human Resources policy templates; when you are ready to initiate the project, we can have these translated and implemented within a few short weeks. We look forward also to working with the wider Mongolian business community, as we continue to cement our strong foundations.
UB is such a dynamic place to be. There is never a dull moment, there is so much work to be done and so much opportunity – I look forward to coming back there soon. To share in the potential bounty of Mongolia the attitude, in my opinion, should be to join with Mongolia, add value to the country, then enjoy a fair and equitable share of the rewards.
Globe 24-7 Mongolia: The Future
As guests in Mongolia, Globe 24-7 looks forward to identifying a Mongolian business leader to work with our global resourcing team and to steward the growth of our UB office. Our business serves to provide specialist mining HR consulting, recruitment and labour hire services to international standards. With Mongolian talent and training as our foundation value, we offer business leadership and entrepreneurship, along with over a decade of HR, recruitment and mining knowledge, with resources available from our global mining HR business. We expect our partnership will lead to a highly rewarding, preeminent business in Mongolia with benefits and rewards in the upper echelon of the market.
If you wish to be part of a responsible, industry leading business and wish to contribute to responsibly shaping the Mongolian recruitment and HR industry, I invite you to contact me to discuss how we can work together.
— Nick Smith, Regional Manger Asia Pacific