U.S. companies are increasingly moving key foreign employees abroad in order to retain them. The approach referred to as offshoring or nearshoring, gives companies the option to avoid the long delays and shortage of U.S. employee visa options and keep their teams intact.
In a recent survey, 93% of companies stated they expect to relocate some foreign talent in the coming year. Between immigration limitations and high demands for labor, smaller companies are starting to use these tactics, long used by larger companies, per Bloomberg Law.
US employers are increasingly relocating employees abroad to hold onto key talent in the face of restrictive quotas on high-skilled foreign workers. Respondents noted Canada, Mexico, the United Kingdom, and Germany as options, per the survey. Over 8 out of 10 employers stated an employee was not able to continue working with the company that hired them due to a lack of employment-based visas in the U.S.
The H-1B visa has seen demand far outstrip availability for several years. Only 85,000 H-1B visas are available annually. Over 200,000 registrations are submitted. Demand for individuals with experience and education in STEM fields (science, technology, math, and engineering) continues to grow. The U.S. has not historically been a sufficient source of this type of talent. As such, international talent is a source.
As many companies moved to some sort of hybrid or remote work during the pandemic, offshoring/nearshoring is now far more attainable for companies of all sizes. Certainly, issues arise in terms of companies and human resources requirements. However, as interest has grown, so have services to address those needs.
If you have questions about employment-based visas or any other immigration-related issue, contact us at ILBSG. Our team of lawyers has extensive expertise in employment-based visas, options for the H-1B, and more. We work with our clients in their specific situations to ensure they get the right advice.
