Bahamians students pursuing careers in the financial services and other sectors are being encouraged to seize job opportunities offered to them in the U.S. and other countries.
However, many of these students, once they have settled into posh, high-paying jobs, are chosing not to return home leading to an increase in the brain drain in the country.
Wendy Warren, CEO of The Bahamas Financial Services Board (BFSB) says she is aware of the brain drain concern in the sector, but added that BFSB continues to encourage students to gain work experience wherever possible to increase their marketability.
“A solid educational base is critical for Bahamians to gain access to desired jobs in or outside of The Bahamas. We have encouraged students, where possible, to take advantage of international job opportunities,” she said.
“A sound education coupled with experience undoubtedly brings added benefit in the very competitive job market worldwide.”
Many Bahamian students are not only finding excellent jobs overseas, but also opportunities to secure permanent residency in the country of their schooling.
A significant number of these colleges and Universities students are seeking permanent residency status in the English-speaking developed countries such as the United States, Canada and Great Britain.
When asked what was being done to make returning home more attractive to the globally marketable Bahamian graduate, Ms Warren said several initiatives had been launched to address this concern.
One of these initiatives is the Ministry of Labour’s Skills Databank, which was set up to track Bahamian human resources both locally and internationally.
With this tool, Ms Warren said the Ministry would be able to build a more efficient mechanism for employers to better assess individuals unable to find work.
No obligation scholarships
Another concern in the sector is the issuance of no obligation scholarships where students are given opportunities to further their education without any commitment to return home and contribute to the society.
Bruce Souder, Managing Director of Bahamas Supermarkets said the food chain, which gives such scholarships, does not arbitrarily do so but patterns them around fileds that are needed in the country.
“No, we don’t have an obligation for them to come back but we try to consider the education opportunities that they seek as well as the needs here such as the education field, nurses and doctors,” he said.
“We consider these fields with the hope that they do come back but they are not obligated.”
He added that even with ‘no bounds’ attached to the scholarships, many students still return to The Bahamas.
“It’s really mixed. Some come back and some stay but it seems like after a while, they do end up returning,” he said.
“I think initially the students have more of an opportunity in the U.S. after completing their education but when it comes to expertise, they might have a better opportunity here to open their own business because I don’t think they will face the competition here as they would have over there.”
The Bahamas Supermarkets Foundation awarded 36 scholarships to outstanding students last Thursday at its annual scholarship awards banquet. The event is a part of that organisation’s commitment to youth development.
The awards was first presented by the local supermarket foundation in 1968 and has since generated more than $7.5 million. It has helped fund higher education for 1,599 students at colleges and technical institutions both locally and abroad.
By: MINDELL SMALL, The Nassau Guardian
