To plug the talent gap, finance departments are hiring foreign nationals — if they can obtain visas, that is.
Kate Plourd, CFO Magazine
July 15, 2008
There is no talent gap. There's a willingness to pay market wages gap, which businesses can get around with immigrant labor. For all of the complaints of not enough talent, I don't see H-1B labor staffing the overpaid top management positions.
Posted by Nathan Herkowitz | August 10, 2008 06:56 pm
I would be curious to know where most of there discretionaty income is spent; I would suspect that a fair bit of it is getting "re-patriated" to thier own countries. Which means of course that little of it is getting spent in the USA and as such doing very little to stimulate the economy in which they thrive.
Posted by Rick Macchiarulo | August 08, 2008 08:21 am
I understand the frustration of Americans who love to complain about outsourcing or in sourcing of talent. But the free market knows no patriotism and globalization is forcing a lot of Americans face the fact that they are part of the gloabal economy and they are competing with talent from all over the world. The truth is that some foreign nationals make better employees than local Americans and the fact that there is an unmet demand of financial talent is no news for any body who is familiar with the industry. The situation is only going to get worse after the SEC sets the date for IFRS implementation, there is going to be a huge influx of foreign nationals who have IFRS expereince where no American has had any IFRS experience.
Posted by Gagik Melkumyan | August 07, 2008 01:50 pm
I believe American Corporations do not try hard enough to find qualified applicants within the USA to fill financail positions. These corporations do not want to bear the burden of agency fees, moving expenses, and paying higher wages to a citizen with all the qualifications. There are many savy financial persons with a great deal of experience that are under/unemployed from great universities that specialize in business, ie Bryant University, who would relocate. But American corporations are looking for cheap labor as they did when moving manufacturing overseas. Our corporations prefer foreign labor which gives undivided loyalty and anything that the corporation wants. American corporations should prove to immigration before applying for H1-B visas; that the corporation "CAN NOT" find a qualified American the position - meaning they searched the entire country for a candidate. Qualified Americans, no mateer the job position, deserve the right to work before immigrant labor is hired.
Posted by Richard Hagan | July 15, 2008 01:27 pm© CFO Publishing Corporation 2009. All rights reserved.