Amir Saeed

Owing to the freedom and flexibility that freelancing offers, professionals are being drawn away from traditional employment, resulting in a considerable talent drain across many industries. Speaking to WealthPK, Ghulam Rehman, President of Freelancers’ Association of Gilgit-Baltistan, said the need for flexibility and work-life balance was a main cause of the talent drain. One appealing option for the professionals looking for more control over their careers is freelancing, which gives them the freedom to choose their projects, make their timetables, and work from any location. “As freelancers set their rates and accept as much or as little work as they like, they frequently have greater earning potential. Many organizations’ hierarchical systems and bureaucratic red-tape impede creativity and innovation, which pushes creative workers to look for other possibilities,” he opined. He suggested that the companies change and adapt to counteract this tendency by providing chances for professional development, attractive pay packages, and flexible work schedules.

“Effective management is also crucial, as it fosters a positive work environment and encourages innovation and creativity. Competitive compensation and benefits packages are also essential, as they show an organization’s appreciation for its employees’ skills and contributions.” Concluding, he said talent drain had a great effect on the businesses as they struggle to attract and retain their outstanding personnel. This could eventually hurt a company’s productivity, innovation, and general competitiveness. Talking to WealthPK, Dr Anwar Shah, Professor at the Quaid-e-Azam University Islamabad, said the restrictions of regular employment was one of the elements fuelling the talent drain. Many organizations are unable to provide their employees with the same degree of independence and flexibility as freelancing, which irritates and dissatisfies them.

He explained that the talent drain was further fuelled by various factors, including the lack of challenging work, poor management, limited opportunities for growth and development, uncompetitive compensation and benefits, and an unfavourable work culture. “The talent drain because of freelancing is a wake-up call for businesses to re-evaluate their approach to talent management. The companies need to attract and retain the top talent by establishing work cultures which recognize the advantages of flexibility and professional growth,” he said. He suggested that the organizations implement strategies, such as offering remote work or flexible hours to retain their skilled workforce. Providing challenging work and opportunities for growth and development can keep the employees engaged and motivated. Concluding, he said a positive work culture that values innovation, creativity, and teamwork and recognizes and rewards the talent through personalized development plans and career paths would further motivate the professionals to stay.

Credit: INP-WealthPk