Brain drain to continue

With current technological developments, changing generational attitudes and new knowledge, many ‘employment-norms’ have rapidly become obsolete. “Our Society members tell us,” said Society founder and CEO Ric Willmot FAIM, “that everyone realises the days of long-term employee loyalty to a company, employees assigning security to their current employment, and hesitancy to employ a ‘multiple-career employee’ are gone. And that human talent is becoming more inclined to seek high-paying opportunities off-shore in what may appear exotic locales.”

“The Australian economy has never been stronger nor the outlook been more buoyant, yet talent is heading to Dubai, UK and USA in waves,” says Willmot. “So we will continue to see employers thirsting for talent, as the pool of quality people evaporate as quickly as our dams and rivers in this great Australian drought.”

“Our Society members are seeing an interesting shift in attitudes of Generation X and Y, along with a frustration for employers where current immigration is failing to deliver the quality needed to fill positions; whilst Gen X and Y venture offshore where remuneration is at significantly higher rates. But money is not the sole motivator; it is a hygiene-factor. More money will not guarantee the retention of talent, but a lack of money will most certainly see the exodus continue,” adds Willmot.

The winning Prime Ministerial candidate must be prepared to capitalise on the resources boom, assist scientific research to remain here, and bring more corporate investors to joint venture with Australian-owned business, enabling the talent pool to choose to remain in Australia because of exciting and interesting work opportunities.

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