German Occupation?

Staying Power for Brainpower: Germany for years has boasted that it has Europe’s largest economy. But the nation is faced with an enormous challenge for the future: growing new workers and keeping them from taking their skills to other lands. About 160,000 employees left in 2007 for better career options elsewhere, according to Deutsche Presse Agentur, German’s national news agency. It cites a survey commissioned by Germany’s Department of Economics and Technology, which concludes that stagnant earnings, combined with lack of career opportunities and high taxes, are behind a continuing exodus of highly skilled workers and managers. Most alarming: 83 percent of Germans working in foreign nations possess academic qualifications, meaning the country is losing out on precious intellectual capital. The U.S., Great Britain and Switzerland are the most popular destinations for skilled German workers. More than half (53 percent) say they left because “German’s income and employment situation [is] unsatisfactory,” but 68 percent say they would return home for better wages. In January, hoping to reverse a high rate of dropouts and prepare young people for work, Germany’s Cabinet launched an initiative to provide financial incentives to help companies launch internships and trainee programs.

Germany is hardly alone in its struggles to retain homegrown talent. According to a recent survey by Manpower Inc., 31 percent of global employers are concerned about the impact on the labor market of people leaving their home countries to work abroad. And in a parallel study, Manpower finds that 37 percent of individuals would be willing to relocate to other nations if it meant advancing their careers.