Reverse brain drain in US resulting to Slump Business:
Growing new economies also flagging prospects in the United States are pushing "talented" immigrants, including those from other countries, to move back to their homes, according to a new study. For more than 40 years, some countries suffered a major "brain drain" as tens of thousands of talented people made their way to US
However, growing new economies abroad along with flagging prospects in the U.S. also the clumsy U.S. immigration rules have forced talent from these countries 80 percent of whom held master's degrees or doctorates in technology, management or science. Specifically, the kind of people who could make the greatest contribution move back to the U.S. economy. Pointing out which ‘America's loss will be the world's gain,' in study "Immigrants who leave the U.S. will launch companies, file patents also fill the intellectual coffers of other nations.
"Their talents will benefit to their own countries, not the U.S."
Noting, which almost 25 percent of all international patent applications filed from U.S. in 2006 named foreign nationals as inventors ‘when smart young foreigners leave these shores, they take with them the seeds of tomorrow's innovation. 'The study further reveals which a sizable number of those who left the U.S. which they had advanced significantly in their careers since leaving America. "They were more optimistic about opportunities for entrepreneurship also more than half planned to start their own businesses, if they had not done so already. Only a quarter said which they were likely to return to the US." The facts hold importance because the US has heavily relied on smart immigrants to staff its labs, engineering design studios also tech firms.
An analysis of the Census showed which immigrants made up 47 percent of all scientists also engineers with doctorates. What's more 67 percent of all those who entered the fields of science also engineering between 1995 also 2006 were immigrants. What will happen to America's competitive edge when these people go home? So far rather than welcoming these entrepreneurs US government is confining many of them to a painful purgatory.
Who are Immigrants?
Depending on where your small business is located and the makeup of the available labour pool you may have a steady supply of immigrant candidates to fill your job openings. Immigrants come to the United States for a number of reasons like to reunite with family members or to seek a better way of life.
Hiring immigrants for business can pose a number of possible advantages and disadvantages.
Reduced Labour Costs:
A major advantage of hiring immigrants is that they may be able to lower labour costs. Immigrants often come to the United States to pursue economic opportunities that are not available in their native countries. As per result they may be willing to work for a lower wage than people who were born and raised in America.
To expand your business into a foreign market or an immigrant culture in the United States, hiring immigrants can be of great value from a marketing standpoint. For example, if you are looking to reach the Hispanic market, a Latino sales representative can provide language and cultural knowledge which you or current staff members do not possess.
They can help in diversifying your workforce. At the time when hiring practices are closely scrutinized hiring immigrants can help keep your business on the right side of anti-discrimination laws. Through diversifying your workforce you may also gain broader perspective and knowledge supplied by people from different cultures.
On the downside hiring immigrants may meet with resistance from current employees. If employee base mainly consists of people of a certain cultural background or who come from local area it may be difficult to assimilate immigrants into your work culture. You may required to implement diversity training programs to help get everybody on same page and to develop a healthy work environment.
Hire immigrants may present a challenge to conducting business. For example, if company hire an immigrant who doesn't have full command of English with heavy accent you may experience difficulties in roles such as customer service or liaising with other businesses. In some of the cases you may have to pay for language training for a highly qualified applicant.
If hire immigrants, you will need to ensure you have all the necessary credentials like green cards and I-9 forms to verify their legal right to work in the United States. If you make a practice of hiring immigrants over native-born American citizens, you will need to protect yourself against possible charges of reverse discrimination. Single method of ensuring fair hiring practices is to utilize a standardized interview format where you ask all job applicants the same questions.