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Migration of a significant number of educated and talented people from a country is referred to as Brain Drain. It occurs because of better job prospects in other countries as compared to one’s own country. Besides, brain drain may even occur at industrial or organizational levels when there is mass exodus from a company or industry as the other offers a better pay and other benefits. Brain Drain is a loss for the country, organization and industry as it takes away the most talented individuals of the lot.
The term, brain drain is often used to describe the emigration of scientists, doctors, engineers and other high profile professionals such as those in the banking and finance sector. Their emigration has a negative impact on their places of origin. In case of geographic brain drain, in addition to the loss of expertise, the consumer spending in the country also suffers immense loss. Hence, it can be a major loss for the country’s economy.
While the geographic brain drain occurs due to better financial prospects and standard of living in other countries, organizational brain drain may be caused due to various reasons including poor leadership, unreasonable work pressure, low salary package and lack of professional growth.