A recent small sample survey of local people who work in the mining industry, found that people are seemingly more concerned about money, than death or injury, even after the recent Paxton mine collapse last month.
Released by Newcastle Financial Planning, they interviewed their mining clients on a range of subjects and found that respondent's perception around safety in the industry was at a low level.
The dislike towards physical danger involved with the industry was the second least most disliked part of their job, both prior and post the Paxton mine disaster, with only 14 per cent of respondents indicating they disliked the physical danger element the most. Over a fifth of people are concerned with possible health issues related to working in the industry.
Business Development and Marketing Manager, Jessica Shuwalow, who conducted the survey, has produced a white paper on the results.
“Ultimately, you want to make the most of the high income the mining industry can provide, so that both you and your family can sleep comfortably and soundly at night knowing you're creating and protecting your financial future,” Jessica said.
“The results of our survey prove that our clients who have received professional financial advice are well and truly more adequately covered by insurance than most of the nation, and feel secure, even when one of them works in a high risk industry.”
Further results include the following:
- 72% of people that responded to the survey indicated they are drawn to the industry by the high income.
- 57% of respondents said the part they dislike most about the job is the long hours and shifts that take away from leisure time.
- 72% of people that responded to the survey said they would encourage others to enter the industry
- 86% believe they have adequate insurance cover in the case something happened to them at work
“In regards to the last point, interestingly national statistics suggest that only 31 per cent of people have income protection, which is probably linked to the low number of Australians that receive professional financial advice,” Jessica said.
Newcastle Financial Planning has been providing financial advice solutions to Newcastle and Hunter clients since 1979.
Nine out of the last ten years Newcastle Financial Planning has been recognised in the top 20 National Leading Practices under the second top rated Australian Dealer Group, Charter Financial Planning.