Figures recently released by Statistics South Africa show that there are still far too few people graduating with tertiary qualifications to adequately address the scarce skills gap in South Africa.

Madge Gibson, senior associate at Jack Hammer Executive Headhunters, says that this problem is exacerbated by the fact that the United Kingdom is facing a similar skills shortage, particularly in the financial services sector.

The ratio of applicants to vacancies in this sector has fallen dramatically over the past two years in the UK

"What we need to remember is that South African business graduates are English-speaking and have transferable qualifications and experience," Gibson says.

As with most South Africans, they also enjoy an international reputation for having a strong work ethic. South Africa has consequently become the hunting ground for UK-based financial services companies and their recruiters.

Salaries in the UK are significantly higher than salaries for the same position in South Africa.

A recently qualified accountant, for instance, can earn over R750 000 per annum in London - almost double what he or she may initially earn in South Africa. Candidates are actively courted by the international firms, who use a strong currency and the prospect of global experience to lure South African skills abroad.

In some cases, recruiters facilitate the securing of work permits on their behalf to expedite the process. Gibson points out that these recruitment campaigns are targeting black and white graduates with equal force.

"In the asset management sector, for instance, white graduates are finding it increasingly difficult to secure employment in South Africa, as most employers opt to recruit and train in accordance with employment equity legislation.

"One would think, therefore, that white candidates would be courted to a greater extent. However, international recruiters are investing broadly, winning as much talent as possible across all racial lines."

In short, international skills poaching is not only affecting overall skills levels in South Africa, but may be compromising certain sectors' efforts to achieve employment equity.

Nevertheless, Gibson maintains that South African employers must take some responsibility for this situation.

"All's fair in the war for talent. We are operating in a globally competitive skills market and South African employers should be reminded of this. Employment offers need to be attractive to retain our talent, or to win back talent that has already been lost."

"Keep in mind, appealing offers are not only about salary. They may include incentive bonuses, access to additional training, mentorship programmes, an enjoyable working environment and fast-track career opportunities," she says.

More companies should consider implementing repatriation programmes that cover relocation costs and assist with the logistics of moving individuals from the UK back to SA, as many South Africans are homesick and long to return to their country.