The disturbing trend of Brain-drain in recent years is a reality faced by economically backward nations, where increasingly an exodus of white-collared professionals is migrating to developed nations for better prospects. This essay shall discuss the challenges posed due to this migration, on the other hand, it will list out suggested solutions to address the same.
Under-developed nations find it a challenge to retain their skilled labour force as the lure of attractive opportunities take them overseas for employment. These nations are plagued by the economic challenge of a weaker currency which impacts the standard of living they offer to their workforce. This migration impacts the growth and development of under-developed nations by affecting the quality of the employable workforce. Given the large population of these countries, when skilled manpower such as Doctors and Engineers exit, it results in further weakening of the economy. To highlight this concern, it has been observed in recent years, skilled labour from Asian countries is increasingly applying for Permanent Residency in Canada.
One of the solutions which the Government of these nations can undertake for a reverse brain drain is opening up key sectors of the economy for divestment such as Health, Education, Infrastructure, Banking & Finance. This move shall attract developed nations to build requisite infrastructure in these countries. This will help create financially viable options for professionals and elevate their standard of living. Divestment will encourage MNCs to set shop in under-developed nations and offer professionals the growth and recognition they crave in their career paths.
To conclude, a concerted effort is required on the part of the Government to curb the challenge of migration by creating adequate opportunities for professionals domestically through the route of divestment, thus helping address this phenomenon to some extent.