Pvt. sector told to be more proactive in tackling brain drain

University of Kelaniya, Department of HR Prof.  Prasadini Gamage, Goodhope Asia Holdings Director HR Group and Country Head Sri Lanka Ishan Dantanarayana, Acuity Knowledge Partners Global Head of Compliance Services and Country Head Jehan Jeyaretnam, Commercial Bank of Ceylon Deputy General Manager HRM Isuru Tillakawardana, 99X Founder and CEO Mano Sekaram, and CFA Sri Lanka Member of Employer Outreach Committee Leo Fernando at the panel discussion on ‘Navigating Through a Brain Drain Crisis’ 
Pic by Kithsiri de Mel 

• Panel of private sector leaders and academia emphasises the need for private sector to actively retain talent within the country
• Human resource professionals urged to develop innovative strategies to retain highly skilled workers seeking better opportunities elsewhere
• Key reasons for migration: “Lack of visionary leadership” and “inadequate compensation” primarily in middle management
• Calls for supplementing employees with a ‘stay bonus’ in addition to their salary for increased retention

By Shabiya Ali Ahlam

The private sector can and should be more proactive in retaining talent within the country, rather than giving up and choosing to do nothing regarding the ongoing brain drain, as stated by a top panel comprising private sector leaders and academia.

As Sri Lanka grapples with the rapid outflux of highly skilled workers seeking better opportunities, human resource professionals were urged to develop strategies with renewed thinking. These strategies are intended to allow the local talent pool to see a light at the end of the tunnel.

A recent panel discussion focusing on HR by the CFA Sri Lanka Society offered hope that the private sector in the country is not doomed, provided that it takes charge and remedies the situation. If left unaddressed, the issue could be detrimental to businesses and the national economy.

As a first step, Prof. Prasadini Gamage from the University of Kelaniya, Department of HR, emphasised the need for the private sector to acknowledge that the majority of the workforce belongs to generations Z and Y, and to work accordingly. 

“As leaders, you must understand their requirements, grievances, and talents and treat them accordingly. We call this emotional intelligence,” she said.

Prof. Gamage shared findings from a recent survey, revealing that the majority of individuals considering migration cited a “lack of visionary leadership in the country” and “inadequate compensation for qualifications and effort” as key reasons. Moreover, the outflux is predominantly observed in the middle management level.

Building on this, Ishan Dantanarayana, Director HR Group and Country Head Sri Lanka at Goodhope Asia Holdings, emphasised the importance of companies identifying top performers, differentiating them, and compensating them accordingly. 

“Companies need to communicate plans for career growth and assure employees of their potential to succeed in higher roles,” he added.

Currently, the higher management makes the majority, if not all, decisions regarding middle management, which comprises a younger workforce. Dantanarayana stressed the need to consider their differences and implement changes to accommodate the needs of this group, advocating for a transformation in thinking rather than a mere change.

Commenting on the IT sector, which experiences one of the highest rates of talent migration, Mano Sekaram, Founder and CEO of 99X, highlighted the importance of communication. 

He emphasised the need to communicate the reality of the situation, whether positive or negative, and instill confidence in the possibility of improvement. 

Sekaram also shared that his company encourages employee retention by supplementing them with a ‘stay bonus’ in addition to their salary, suggesting that entities explore such options if they have the means and reserves.