PRN: Britain Losing the Battle for Talent
It is the most popular destination country for executives from Germany, France and from outside Europe.
Britain Losing the Battle for Talent
MUNICH, December 6, 2011 /PRNewswire/ --
Latest research on executive talent flow between countries highlights the continuing trend of 'brain drain' from the UK
Over the past year, 26% of UK executive job changers chose to move to a different country, a 6% increase from 2009. This number compares starkly with emigration rates of only 7-8% in Germany, Italy and Spain, the countries with the lowest propensity to relocate. Britain is now the second biggest exporter of senior talent after central and eastern Europe.
This is one of the key findings of the 3rd edition of Talent Mapping research from international online career and recruitment service Experteer. Of its members, over 70,000 senior-level professionals changed jobs in the 12 months leading up through the first quarter of 2011. Almost one-sixth (15.6%) of these job changers took up a new position in a different country, representing a small drop from 2008-09 levels (17%) but a notable rise on 2007/08 (13.5%). International job changers within this group totaled 11,188, with 7.2% originating from the UK.
So what has contributed to the UK trend over the past two years? Clearly the continuing impact of economic recession on the domestic job market has played a part. There are also emerging threats to living standards from public sector spending cuts plus the introduction in 2010 of the 50p top personal tax rate for those earning over Â£150,000 (€170,000) a year. The result has been to make the UK less attractive to high-calibre talent and, perhaps, more importantly, less competitive internationally.
Seeking greener pastures
Of UK senior talent who secured employment abroad, the first choice was Germany. Â Interestingly, the second largest group chose to migrate farther abroad, beyond Europe. France was the third most popular destination.
Switzerland - for the third time running - achieved the highest net gain in imported senior-level professionals of just over 50%. It is the most popular destination country for executives from Germany, France and from outside Europe. On the other hand, the UK suffered a net loss of 15%; of those executives who chose to move here, almost one-third were from outside Europe.
Movement between neighboring countries remains most prevalent. Common language skills as well as proximity to home countries no doubt influence this pattern. Â Remuneration differences continue to have less influence, but average salaries of international movers are notably higher in Germany and Switzerland than in other Experteer-monitored countries. The largest disparity between highest and lowest earners is found in the UK.
About OMIS Research
OMIS Research is an independent economics consultancy founded and managed by Brian McDougall. At the core of the business is an on-going research programme that collates, validates, standardises and analyses demographic, economic, corporate, sector-specific property information and intelligence. OMIS Research has a large geographical coverage, spanning over 40 countries in Europe, plus major regions of Asia and Africa.
Experteer, the leading online career service for senior-level professionals across the UK and Europe, features more than 90,000 job opportunities, plus a network of 10,000 approved headhunters and 7,500 prestigious companies. This premium service is aimed at experienced executives who are either planning their next career move or monitoring the job market and their own market value.
Job opportunities available to members have been selected by a team of independent analysts, who constantly research the market, then classify each job and apply a salary benchmark. The online career service also provides job advertising and valuable candidate sourcing opportunities for headhunters. Â Â
Further information can be found at http://www.experteer.com or at the service's domain name for each country in which it operates: de/ .ch/.fr/ .co.uk/ .be/ .at/ .it/ .es/ .nl and us.experteer.com