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How to Close the Skills Gap

Brain drain, which is also known as human capital flight, refers to the loss of talented and skilled workers on a mass level.

On a national level, this may occur during economic or political instability when there is limited opportunity. On a corporate or industrial level, brain drain can occur when workers perceive limited upward mobility and room for development or are enticed by better opportunities and benefits in other companies and sectors.

Much like national brain drain, companies of all sizes face similar challenges when it comes to attracting and retaining top talent. During turbulent job market conditions, such as those caused by the 2008 recession or COVID-19 pandemic, the need for high-performing employees rises even as staff numbers are reduced. As companies seek to streamline processes and introduce new technologies to remain competitive, specialized skills are often required to help manage them.

In this guide, we cover ways to combat brain drain, including:

  • Gaining visibility into your workforce
  • Expanding your talent pool
  • Diversifying your talent acquisition
  • Upskilling employees

Download the guide How to Close the Skills Gap and Combat Brain Drain in Your Business and learn more about the short and long-term strategies that can help mitigate human capital flight.

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