THE GUARDIAN
As the brain drain syndrome in the health and information technology (IT) sectors persists, Phillips Consulting (PCL) has revealed in its recent survey that about 52 per cent of Nigerian professionals are considering quitting their jobs and relocating abroad within a year.
The report by the talent management firm, titled: “A New World Order: Shifting Paradigms In Addressing Brain Drain,” was presented during the quarterly meeting of the Nigerian Human Resources Directors Network in Lagos.
The finance, insurance, professional services, education, healthcare and IT sectors are to be worst hit, as it was found that nearly 50 per cent of employees working in these fields are contemplating relocation.
According to the study, Nigerian businesses face numerous challenges in the post-pandemic world, such as market uncertainty, inflation, digitisation acceleration, changes in consumer behaviour, increased operational expenses and complexity. But employee retention and brain drain prevention are today’s most pressing issues.
The survey noted that rising cost of living is impacting employees’ finances and productivity. Before the Ukraine crisis, the Nigerian economy witnessed several impediments, including unemployment, a weak currency and insecurity. The situation has worsened the high cost of living and affected remunerations and negatively impacted citizens’ purchasing power.
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