Titan Engineer Insurance worries that skilled engineering workers are adding to a sector brain drain as more people seek jobs in emerging economies and thinks that the long term effect could be a delay in the recovery.
Titan Engineer Insurance says that many engineering projects rely on highly skilled personnel which once gone overseas, can be harder to replace that quickly. Titan believes that the prospects of a strong recovery could be damaged if once the projects come on stream again; key personnel and skill sets are missing.
Titan also believes that with countries like Australia and New Zealand making a big play for engineers, it is not just a question of workers leaving for short term contracts, but making a choice to relocate permanently.
Chief Executive Officer of Titan Engineer Insurance, Basil Tsapralis, said:
“With each recession the problem of large parts of the skilled workforce upping sticks and going to find jobs has become an issue as regards the pace of recovery. What’s more, these people are not just short term contractors working out in the same rapidly growing markets of China, India and Brazil. A lot of these workers are going lock, stock and barrel and resettling.
“Lose too many of these skilled workers and there could be a real danger of the economic recovery not achieving the desired pace.”
Titan Engineer Insurance deals with the needs of companies large and small throughout the UK. The company is known for its competitive prices and high levels of customer service.