Finding Solutions to manage the talent drain

President addressing the Human Capital Summit

Official records suggest that over 1.1 million Sri Lankans have left the country in 2022 with a monthly average of about 94,000 while only 27.6 percent of total departures have left for foreign employment purposes, most of them low- and semi-skilled workers. 
However, there is evidence that middle-class professionals joined the exodus in 2022 and 2023 thinking that the country would take years to recover. Overall, critical sectors like health care, banking sector and information technology increasingly struggle with talent shortages. 

President Ranil Wickremesinghe  addressing the issue of human capital shortage for key sectors highlighted the significance of education and training. He noted the departure of skilled individuals from the country and expressed concern over the loss of professionals to other nations. 

He emphasized the urgent need for the establishment of vocational training centres and universities to address the skills gap and meet the demands of a competitive economy. He further outlined plans to collaborate with the private sector and institutions to create a robust framework for education and training and stressed the importance of creating an environment that encourages professionals to remain in Sri Lanka”.

President (then Prime Minister) pointed out in 2016 that “given the future growth potential and envisaged development plans, Sri Lanka will have to overcome the scarcity of skilled human resources apart from managing power and water requirements”. Sri Lanka 8 years later is still looking for sustainable Human Resource solutions.

Talent Drain

Brain drain in Sri Lanka can be attributed to factors like poorly paid job opportunities, political instability, high cost of living due to the economic crisis, poor governance and a desire for better educational and career prospects abroad. The desire for more favorable conditions in terms of research opportunities , technology, finance, schooling, learning and development, work experience and professional growth often drives skilled/qualified individuals to seek opportunities outside Sri Lanka given the high cost of housing and the cost of living.
Most young people want to uplift themselves and their families. On the positive side, much needed Foreign remittances will increase with the flight of talent out of the country . This would also give opportunities for those who want to remain in SL because of shortages of skilled talent. However, research strongly suggest that talent retention is far more beneficial to a country to ensure a sustainable and self reliant economy.

Measures to address talent drain

1. Improve skilled and semi skilled job Opportunities: Enhance local job markets and create opportunities in diverse sectors.
2. Competitive Salaries: Offer competitive salaries to match international standards, making it more attractive for top talent to stay.
3. Low cost sound education opportunities: Improve and invest in higher education both digital and traditional education to provide advanced training, CPD and research opportunities locally.
4. Effective governance of the country, reducing uncertainties and corruption that drive professionals away.
5. Better soft and hard Infrastructure: Enhance infrastructure and technology, AI to support innovation and professional growth.
6. Public-Private Partnerships: Encourage collaboration between the government and private sector to create a sound business environment.
7. Entrepreneurial Support: Foster entrepreneurship by providing low cost finance, HR support and resources 
for startups.
8. International Collaboration: Collaborate with global institutions and companies to bring in expertise, create joint ventures, FTAs and boost knowledge transfer.
9. Quality of Life: Improve overall quality of life, including healthcare, entertainment, safety, and cultural amenities.
10. Stability in taxation and key policies that impact entrepreneurs and FDI and Trade.

Conclusion

Implementing a combination of these measures can contribute to stemming the brain drain and promoting sustainable economic growth in Sri Lanka.The country faced a huge movement of talent and a severe shortage of skilled workers in 2022/23, and also the cost of having trained them. This only benefited other nations.  Some also  left Sri Lanka, to gain experience, hopefully they will return home.
To change this situation however we need to create confidence in the future, reduce the distrust in politicians, promote social cohesion, reduce the cost of living and overall improve the quality of life. In the final analysis one of the key factors to the country’s true economic revival would be hugely dependent on the people who decide to stick it out, whether out of a sense of duty, or for other reasons.

References
https://youtu.be/CMNjsSoMjxc?si=qPN3PdM1veevGaor

https://nhrdc.gov.lk/nhrdc//repopdf/HR%20Capital%20Final%20Report.pdf

 Sri Lanka was hit hard by catastrophic economic and humanitarian crisis in 2022, many thought the country would take years to make a turnaround.