Recruit and retain top talent.
Large corporations spend millions of dollars each year to recruit and retain top talent. Businesses looking to fill a key executive position typically use professional recruiters—conducting extensive searches and often poaching directly from competitors. Many nonprofits, meanwhile, will settle for posting job descriptions on social sector job boards, or spreading the word through their personal networks.
For a record 16 straight months, the number of open jobs has been higher than the number of people looking for work. The US economy had 7.4 million job openings in June, but only 6 million people were looking for work, according to data released by the US Department of Labor.
Employers have been complaining about a shortage of skilled workers in recent years, particularly workers with advanced degrees in STEM (science, technology, engineering, and math) fields.
The hardest-to-find workers are no longer computer engineers. They are home health care aides, restaurant workers, and hotel staff. The shift is happening because more and more Americans are going to college and taking professional jobs, while working-class baby boomers are retiring en masse.
In 2017, the Wall Street Journal’s editorial board warned Trump that his restrictions on immigration could hurt the economy.
“If President Trump wants employers to produce and build more in America, the US will need to improve education and skills in manufacturing and IT. But the economy will also need more foreign workers, and better guest worker programs to bring them in legally,” the publication said in March 2017.
Providing more work visas for skilled and unskilled immigrants seems like an obvious solution to ease the labor shortage. This would open up the possibilities for companies to open international work programs. But it’s also a solution that seems pretty impossible to take in this political climate.
Nonetheless, there are options to increase the pull of candidates and talent that the companies are needing, hiring a team of professionals that can help get international talent for the companies needed can signify big savings for companies in the medium and long term, it can help reduce turn over and lower the cost of talent acquisition and retention, not to mention significantly increase the pool of candidates and the quality of them.
If you are interested in information about how to start an international program for your company contact us here.