What is Brain Drain?
‘Brain Drain’ occurs when a large number of employees leave a company for any number of reasons. An employee might leave a company for any reason. However, when a large number of employees leave simultaneously, it affects the company economically and is detrimental to its working.
Although it is a rare phenomenon, its occurrence is a huge risk for any organization. Hence, companies generally try to prevent such occurrences by taking surveys and making sure that employees’ collective job satisfaction does not dip. It might happen due to any reason like a drastic change in the company culture, change in HR policies or any other elements affecting the employees negatively.
The brain drain can also affect a country as a whole. Although rarer than a company-wide brain drain, it occurs in case of unprecedented economic slowdown, wars, etc.