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Nations Revamp Immigration for a Skilled Workforce
Global competition to attract top talent and skilled labor is heating up as countries look for every edge to attract the best foreign workers and students. To that end, countries are shifting immigration policies to favor the best candidates and help solve internal economic and demographic challenges.
Intense Country Competition
The 2023 Hiring & Workplace Trends Report produced jointly by companies Glassdoor and Indeed finds there will likely be a persistent tight supply of workers for years to come in key economic sectors and without sustained immigration, an increase in labor productivity or a focus on attracting workers, many industrialized countries will continue to struggle with a tight labor market.
Countries are implementing new programs to not only understand where new talent may come from, but also which countries’ talent pools they can best attract and then changing immigration requirements to support this.
Successful governments are implementing four key strategies to attract international talent, according to the Mauve Group, a provider of Global Business Solutions and Consultancy Services:
1. Introducing new work visas
2. Shifting immigration policies
3. Targeting incentives for specific occupation shortages
4. Offering financial incentives and better benefits
Consider this small sample of recent country-specific schemes to attract talent:
- The UK feels its High Potential Individual (HPI) visa route will attract the "brightest and best" early in their careers allowing identified talent permission to stay in the UK for at least two years.
- Hong Kong says its “Top Talent Pass Scheme” will raise its international competitiveness by offering them a two-year visa that allows them to work, establish a business or change employers in Hong Kong.
- Finland’s “Talent Boost” program aims to attract high-skilled workers from Vietnam, as well as Brazil, Turkey, and India.
- Canada’s New Brunswick province hosted recruitment sessions for candidates of specific countries, such as Nigeria, the United Arab Emirates, and Argentina.
- Bahrain’s Golden Residency Visa helps international workers stay in Bahrain permanently.
- The German government announced plans to make it easier for IT workers from India to obtain German work visas.
- The United Arab Emirates extended its Golden visa program to attract skilled foreign talent -- professionals, scientists, and researchers - to live, study, or work in UAE for 10 years.
Clearly, a post-pandemic global battle for talent and immigration shift is underway, one that will be critical to the future success of many countries as demographics and economies evolve.
Country Case Study: Japan
Every country’s immigration scheme has their own specific and highly unique details for candidates to qualify for entry and attention to details cannot be emphasized enough.
Consider the example of Japan, which ranked 41st of 63 economies in 2022 for attracting and retaining talent. To improve its position in the high-stakes global talent game, it recently introduced two new visas, the J-Skip and the J-Find:
- The “J-Skip” Visa, aimed at attracting special, highly skilled professionals to Japan.
- Requirements: Individuals who hold at least a master’s degree or 10 years’ relevant work experience with an annual income of 20 million JPY ($143,530 USD) or more can apply for either a Highly Skilled Professional (i)(a) - advanced academic research activity or a Highly Skilled Professional (i)(b) - advanced specialized/technical activity. Individuals with 5+ years of practical experience in business management with annual income of 40 million JPY ($287,060 USD) or more can apply for a Highly Skilled Professional (i)(c) Advanced business management activity.
- The “J-Find” Visa, designed for recent graduates of highly ranked universities to pursue job or entrepreneurship opportunities in Japan. They will be allowed to stay in Japan for up to two years for job hunting and preparation for starting a business. They can also accompany their dependents, such as spouses and children.
- Requirements: Status of residence will be granted by Japan to graduates of a university ranked in the top 100 of at least two of the following three World University rankings* within the last five years and have an amount of deposit and savings of at least 200,000 JPY ($1,435 USD) for living expenses when applying. * QS Top Universities, the Times Higher Education World University Rankings, and Shanghai Jiao Tong University’s Academic Ranking of World Universities.
Further supporting this effort and a talent pipeline, Japan’s Council for the Future of Education Creation also recently announced an initial proposal to further “internationalize” higher education with the goal of attracting over 400,000 foreign students from overseas institutions and encouraging them to work in Japan after they graduate.
Global Talent and Immigration Shift
It is clear countries will continue modifying visa and immigration laws to help boost their future economies and compete as popular destinations for global talent.
If you would like to discuss this or other immigration or global mobility trends or company needs, please contact your NEI representative.
The above article is provided for informational purposes only. Please consult your tax, legal, immigration or accounting advisors before making any decisions or transactions.
Nations Revamp Immigration for a Skilled Workforce
Global competition to attract top talent and skilled labor is heating up as countries look for every edge to attract the best foreign workers and students. To that end, countries are shifting immigration policies to favor the best candidates and help solve internal economic and demographic challenges.
Intense Country Competition
The 2023 Hiring & Workplace Trends Report produced jointly by companies Glassdoor and Indeed finds there will likely be a persistent tight supply of workers for years to come in key economic sectors and without sustained immigration, an increase in labor productivity or a focus on attracting workers, many industrialized countries will continue to struggle with a tight labor market.
Countries are implementing new programs to not only understand where new talent may come from, but also which countries’ talent pools they can best attract and then changing immigration requirements to support this.
Successful governments are implementing four key strategies to attract international talent, according to the Mauve Group, a provider of Global Business Solutions and Consultancy Services:
1. Introducing new work visas
2. Shifting immigration policies
3. Targeting incentives for specific occupation shortages
4. Offering financial incentives and better benefits
Consider this small sample of recent country-specific schemes to attract talent:
- The UK feels its High Potential Individual (HPI) visa route will attract the "brightest and best" early in their careers allowing identified talent permission to stay in the UK for at least two years.
- Hong Kong says its “Top Talent Pass Scheme” will raise its international competitiveness by offering them a two-year visa that allows them to work, establish a business or change employers in Hong Kong.
- Finland’s “Talent Boost” program aims to attract high-skilled workers from Vietnam, as well as Brazil, Turkey, and India.
- Canada’s New Brunswick province hosted recruitment sessions for candidates of specific countries, such as Nigeria, the United Arab Emirates, and Argentina.
- Bahrain’s Golden Residency Visa helps international workers stay in Bahrain permanently.
- The German government announced plans to make it easier for IT workers from India to obtain German work visas.
- The United Arab Emirates extended its Golden visa program to attract skilled foreign talent -- professionals, scientists, and researchers - to live, study, or work in UAE for 10 years.
Clearly, a post-pandemic global battle for talent and immigration shift is underway, one that will be critical to the future success of many countries as demographics and economies evolve.
Country Case Study: Japan
Every country’s immigration scheme has their own specific and highly unique details for candidates to qualify for entry and attention to details cannot be emphasized enough.
Consider the example of Japan, which ranked 41st of 63 economies in 2022 for attracting and retaining talent. To improve its position in the high-stakes global talent game, it recently introduced two new visas, the J-Skip and the J-Find:
- The “J-Skip” Visa, aimed at attracting special, highly skilled professionals to Japan.
- Requirements: Individuals who hold at least a master’s degree or 10 years’ relevant work experience with an annual income of 20 million JPY ($143,530 USD) or more can apply for either a Highly Skilled Professional (i)(a) - advanced academic research activity or a Highly Skilled Professional (i)(b) - advanced specialized/technical activity. Individuals with 5+ years of practical experience in business management with annual income of 40 million JPY ($287,060 USD) or more can apply for a Highly Skilled Professional (i)(c) Advanced business management activity.
- The “J-Find” Visa, designed for recent graduates of highly ranked universities to pursue job or entrepreneurship opportunities in Japan. They will be allowed to stay in Japan for up to two years for job hunting and preparation for starting a business. They can also accompany their dependents, such as spouses and children.
- Requirements: Status of residence will be granted by Japan to graduates of a university ranked in the top 100 of at least two of the following three World University rankings* within the last five years and have an amount of deposit and savings of at least 200,000 JPY ($1,435 USD) for living expenses when applying. * QS Top Universities, the Times Higher Education World University Rankings, and Shanghai Jiao Tong University’s Academic Ranking of World Universities.
Further supporting this effort and a talent pipeline, Japan’s Council for the Future of Education Creation also recently announced an initial proposal to further “internationalize” higher education with the goal of attracting over 400,000 foreign students from overseas institutions and encouraging them to work in Japan after they graduate.
Global Talent and Immigration Shift
It is clear countries will continue modifying visa and immigration laws to help boost their future economies and compete as popular destinations for global talent.
If you would like to discuss this or other immigration or global mobility trends or company needs, please contact your NEI representative.
The above article is provided for informational purposes only. Please consult your tax, legal, immigration or accounting advisors before making any decisions or transactions.
