Intellectual brain drain and economic growth in developing countries A theoretical solution of strategic compensation

Abstract

Brain drain is a real problem for the developing countries like Pakistan. It not only impacts the workforce, but its effect eventually translates to economic growth as well. The most severe form of brain drain is intellectual as top tier skilled employees’ move out of the country. This study explores the issue of intellectual brain drain in Pakistan moreover analyzes its severity to the economic growth. Finally, this study provides with a novel solution for the issue of brain drain by utilizing the strategic compensation. This is significant for the academia and industry as the recommendations provided can help tackle intellectual brain drain. Brain drain is distinguished as the relocation of professionals looking for the better way of life and personal satisfaction, more significant compensations, admittance to cutting edge innovation and more steady political conditions in better places around the world. This movement of professionals for better freedoms, both inside nations and across global boundaries, is of developing concern overall as a result of its effect on in general frameworks in developing nations. For what reason do professionals leave their nations and travel to another country? What are the results of such relocations particularly on the instructive area? What approaches can be embraced to stem such developments from developing nations to developed nations? This article seeks to raise questions, identify key issues, and provide solutions which would enable immigrant professionals to share their knowledge, skills and innovative capacities and thereby enhancing the economic development of their countries. The discussions and findings concluded that compensation patterns need to be influential and persuasive so that brain drain can be converted to brain gain.