Immigration reform and discussions remain a contentious topic in the U.S. One thing that many companies agree on, though, is the need for a fresh pool of talent to keep businesses thriving.
This holds true for many sectors of the economy.
The importance of global talent
Forbes writes about the importance of immigrants to the startup and entrepreneurial community in the U.S. While immigrants make up about 15% of the workforce, they account for about one-quarter of entrepreneurs and inventors.
Many companies and CEOs believe that the U.S. does not have the necessary talent to power the needs of many businesses. They point to an incapacity to train local individuals to meet the demand for these numerous positions. A continued talent deficit will impact economic growth.
The article also cites many of the difficulties immigrants face in negotiating the immigration process with its paperwork and expenses. This leads talented workers to go to larger companies that have the resources to assist incoming migrants, sometimes to the detriment of smaller companies.
The impact on wages
According to FWD.us, much research shows that immigrants do not hurt the wages of native-born workers, but complement wages. Laws exist that require companies to pay temporary workers competitive wages, and permanent immigration programs must go through a certification process when hiring immigrants. The end result of these laws and programs is to avoid any downward pressure on wages.
Most research shows that employment-based immigrants are vital to the U.S. economy. In many instances, these foreign-born workers meet the temporary and permanent needs of employers in various industries.