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Migration of highly skilled workers: Modelling the relationships with business sustainability
Vol 1, Issue 2, 2023
Issue release: 31 October 2023
VIEWS - 6561 (Abstract)
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Abstract
The research paper investigates the impact of international migration of highly skilled workers on business sustainability and models the relationships between them on this basis. The relationship between the migration of highly skilled workers and business sustainability was investigated using the example of 27 countries of the European Union in 2022, based on the use of the correlation analysis method by calculating the Pearson pairwise correlation coefficient. The results of the correlation analysis demonstrate that “brain drain” has a negative impact on the values of business sustainability indicators. Companies of all sizes, industries, and geographies are improving their sustainability management practices while being tolerant of workers from other countries. A significant positive impact of the arrival of highly skilled individuals from abroad for employment on the “business environment” indicator in the Global Innovation Index of the destination country has been proven. In order to detail the relationship between the migration of highly skilled workers and business sustainability, an economic and mathematical model of the form y4 = 26.114 − 2.039x1 + 0.080x3 − 0.090x5 + 0.113x6 was developed, which proves that the creation of conditions for attracting and retaining highly qualified migrants is of primary importance for the formation of a sustainable business culture in the country.
Keywords
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University of City Island, Cyprus
