JOHANNESBURG, 22 May 2019 – The number of skilled professionals committed to a career in South Africa is diminishing, while the demand for their expertise is not, according to the 2019 PPS Graduate Professional Index (GPI) results that were released today.
PPS conducted an independent survey of 5,837 members at the beginning of 2019 to gauge their perceptions on a number of issues affecting their professions, both now and in the near future.
Graduate professionals working across the Accounting, Dental, Engineering, Legal, Medical, Pharmaceutical and other sectors were polled, and the findings of the survey shed light on the state of South African professionals.
While the majority of respondents (68%) felt confident about the future of their profession over the next five years - with accountants (86%) leading the pack - due to financial viability (35%) and regulations (23%) in their professions, many were concerned about political issues (43%) and economic conditions (27%).
“According to our survey’s results, South Africa’s skilled professionals – doctors, accountants, lawyers, engineers, corporate employees, and successful entrepreneurs – are giving more consideration towards emigrating due to their being qualified to do so and having the financial means,” says Motshabi Nomvete, Head of Technical Marketing at PPS. “This holds many implications of a professional migration trend on a developing nation.”
The majority of respondents (71%) would encourage matriculants to enter their respective professions, particularly accountants (89%), engineers (80%), ‘other’ professionals (79%), pharmacists (59%) and medical professionals (56%). The main reasons are that the skills are needed in SA (51%), and that the profession is personally rewarding (35%).
When asked about the state of youth employment, 36% of respondents thought this was a government problem which they must solve, and 30% believed that their professional associations were also looking for solutions.
Main findings for each of the professions:
“Skilled professionals play a critical role in the working environment and in shaping SA’s future. They are usually the highest earners, and therefore the most significant contributors to the country’s tax revenue. As the pool of top talent contracts, so too does the revenue obtained by SARS. The long-term effects of this ongoing erosion of the country’s human resources and endowments should be of considerable concern to every citizen who wants to build a sustainable future,” says Nomvete.
However, she emphasises that a window of opportunity exists right now for South Africa to turn things around before it’s too late.
“If government and business can work together to create a mutually beneficial and viable platform for opportunity and success, then we will increasingly see more skilled professionals wanting, and choosing to stay. And once we reach a tipping point, not only will we stop the brain drain, it could actually start reversing,” ends Nomvete.
PPS has more than 150 000 members who enjoy access to a comprehensive suite of financial and healthcare products that are specifically tailored to meet the needs of graduate professionals.
PPS is the largest South African company of its kind, exclusively for graduate professionals, that still embraces an ethos of mutuality, which means that it exists solely for the benefit of its members. Members receive profit allocations based on the qualifying life risk products they hold with PPS. Thus, PPS members with qualifying products could share in the profits of PPS Insurance, PPS Investments, PPS Short-Term Insurance and PPS Healthcare Administrators via annual allocations to the unique PPS Profit-Share Account. In addition, the more products members hold across these PPS businesses, the larger their percentage of earnings through the PPS Cross-Holdings Profit-Share Booster.
PPS membership provides access to the following tried, tested and trusted products and services: PPS Life Insurance, PPS Short-Term Insurance, PPS Financial Advisory, PPS Investments and Profmed Medical Scheme. Visit www.pps.co.za for more information.
PPS is a Licensed Insurer and Financial Services Provider.