Impact of Insecurity on Human Capital: Financial Sector
Summary — This report by the Bank of the Republic of Haiti (BRH) examines the impact of insecurity on human capital within Haiti's financial sector. It analyzes the effects of violence and instability on employee turnover, recruitment, and the overall functioning of financial institutions.
Key Findings
- Insecurity has led to increased employee turnover in the financial sector.
- Migration, particularly of young professionals, continues to impact human capital.
- Financial institutions are experiencing losses due to vandalism and operational disruptions.
- Recruitment efforts are focused on replacing lost staff and maintaining service quality.
- Institutions are implementing strategies to retain staff and attract new talent.
Full Description
This study, conducted by the Banque de la République d'Haïti (BRH), investigates the repercussions of increasing insecurity on the human capital of the financial sector. It assesses employee turnover rates, difficulties in recruitment, and the operational challenges faced by banks and financial institutions due to violence and instability. The report also highlights the migration of skilled professionals and its impact on the sector's stability and service delivery, further exploring mitigation strategies adopted by financial institutions to address these challenges.