SA’s highly skilled professionals will fly the coop if ignored
Corporations tend to invest less in employee training and education when times are hard, which will affect the country’s competitiveness down the line
This is a difficult time to be a young and driven professional in corporate SA. The country’s dire economic situation has resulted in the implementation of severe cost-cutting measures across most corporations, leading to drastic hiring freezes and mass retrenchments. Unfortunately, in such a climate, there is also a growing narrative that formal and informal executive education is a frivolous expense that should be reduced, and that employees must simply consider themselves “lucky to even have a job”.
While spending less on developing talent may appear to save companies money in the short term, the long-term effect of cutting back on professional development opportunities will surely result in a less engaged and productive workforce, and will ultimately lead to an accelerated brain drain.