4Sight spends more on talent management amidst brain drain, says CFO

Eric van der Merwe says 4Sight has turned its focus to retaining talent in the technology sector.

JSE-listed multinational and diversified technology company 4Sight has reported a slight improvement in normalised earnings from 1,329 cents to 1,695 cents per share for its 2021 financial year-end results.

According to CFO Eric van der Merwe, this was despite the tough trading conditions experienced during the period under review, which “includes spend on talent management initiatives focused on retention and training of skilled and scarce human resources”.

The company reported that, like the rest of South Africa, it has been significantly impacted by the massive human capital flight in the technology sector as local talent has become a target of global firms that offer flexible working hours and foreign currency-denominated remuneration.

“Countering the brain drain in South Africa to retain industry and domain skills and expertise remains a key focus for the group,” Eric explains. “Our learning programmes will help solve the skills gaps in our industry, and 4Sight will become the first place people will turn to learn more about careers, develop new skills, retrain for new positions and sharpen their skills.”

4Sight further announced that it achieved a 12.9 percent year-on-year increase in revenue and 3.6 percent in gross profit. It also notably increased its debt-to-equity ratio to 36.4 percent and net asset value climbed by 3.5 percent.