Cagayan De Oro Brain Drain Killing Business

An interesting article.

It used to be thought that Cagayan De Oro would be an up-and-coming technology center in The Philippines. Instead, what has happened is that talented locals here are being wooed to larger and better-paying companies in Cebu and Manila. Local companies are finding themselves out of business as they spend a lot of time training new employees, only to have them poached as soon as they have enough experience. Having the Mindanao bugbear chasing off investors has been a huge problem as well.

This video talks about medical transcription in The Philippines and points out that it suffers from the same problem as Cagayan De Oro's call centers and other knowledge-intensive jobs: There aren't enough talented employees and too many positions waiting to be filled. Employees will jump ship at the first higher-paying job opportunity... of which there are many.

Also mentioned in the video was an idea that I had as well: The only way to make money at medical transcription in The Philippines is to open up a school to train transcriptionists.

To put it bluntly, here in The Philippines, either you can pay people to get trained by your company before they go off and find a high-paying job, or people can pay you to get trained by your company before they go off and find a high-paying job.