As the talent war continues, the brain drain in Asian markets is soaring new heights. While organisations are trying all means to prevent this drain and tightly plug all loopholes within the system, the attrition rates are still high.
While the beginning of brain drain in Asia cannot be identified, the matter of fact is that it is experienced across all markets in Asia namely – India, China, Malaysia, Vietnam, Indonesia and others.
Some of the factors to control brain drain in Asia are definitely beyond control such as the need for improved standard of living, better medical and modern educational facilities, infrastructure stability, well-defined political system and so much more. The only way that we can visualise at a company level to stop brain drain is by creating a world-class environment for the teams to function.
Enlisted below are some more means by which employers and companies alike can stop the brain drain with a plug that fits all industries, irrespective of their magnum of operations. They are:
Companies should enable for a cross-border knowledge transfer such that employees can resist the temptation to move abroad for international exposure, knowledge and experience. The knowledge transfer should happen within an enterprise in the form of co-workers from different backgrounds, training opportunities and networking sessions.
Also inviting members from the international team to come and share their knowledge and experience to a different country base, can provide for diversity at workplaces and create more developed environments without the discomfort of leaving their places of residence.
While employers are always aware of the fact that from the employees’ viewpoint, grass always looks greener on the other side. Today many corporations are aping Google to offer talented employees with world-class benefits, however there seems to a biased approach existing in most workplaces. How do employers offer world-class benefits to all employees irrespective of their rung of management?
Primarily, you need to get employer branding right to be perceived and accepted in a positive light by the workforce. Effective communication methodologies and giving employees a purpose to come to work every day, which goes beyond the financial compensation is a must for retaining talent for long.
See: Female brain drain in Asia – why advancing gender diversity is an economic imperative
Be it increases in monetary benefits or better cafeteria facilities, improvement in attendance and leave management policies; address the employee challenges effectively with a neat communication program and processes in place.
We all know tides are changing and power is in the hands of potential talent. In these changing times, it is demanded of HR managers to stay up on high vigil and ensure better employee engagement practices are implemented and job satisfaction mechanism is prioritised to retain bright talent within the organisation.
To encourage employees to not leave their native countries or promote migrant workers, it is important to understand why employees feel the increasing need to migrate to foreign countries.
According to Policy Horizons Canada, “Improved political, economic, social, and educational circumstances in Asia are generating new opportunities for migrant talent, students, and labour. As a result, potential migrants from Asia are beginning to question the value of migrating outside of the region to countries like Canada and USA.”
Attracting talent is important for fast-developing economies such as China, India and various countries in Southeast Asia, whose demand for skilled workers has exceeded what it can produce. The need for workers in Asia is currently predicted to rise 22% over the next decade. Drawing a young and fertile workforce is now essential for rapidly aging and low fertility countries such as South Korea and Japan.
Furthermore, the development of research and education sectors has become a priority of Asian countries such as Singapore and Malaysia, either to pull in the “brightest and the best” researchers, or to entice well-off international students. Herein, reverse migration could provide the solution for many of Asia’s emerging needs.
Also read: New Zealand wants to reverse brain drain with jobs pitch to Australian professionals
Image credits: flickr.com
