Good news for H-1B visa holders: Several US firms hire workers laid-off by other companies, reveals survey
Despite the harsh economic realities, the survey uncovered that demand for foreign talent is greater now than in early 2022. At the time, the Department of Labor reported an all-time peak in H-1B sponsorships. According to the report, 71 per cent of companies report hiring more foreign nationals in the first quarter of 2023 than in the same time last year.
FollowNearly 89 per cent of businesses surveyed hired one or more foreign nationals laid off by another company, revealed the latest survey report published by Envoy Global, a global immigration services provider. The survey was conducted in February and received 443 responses from HR professionals responsible for immigration in their organisations. It affects a broad range of industries and business sizes.
Following Envoy's recently released '2023 immigration trends' report, 78 per cent of the businesses surveyed implemented a hiring freeze into 2022, while nearly 51 per cent laid off foreign employees. Many companies, however, benefited from recruiting foreign talent impacted by previous layoffs.
Despite the harsh economic realities, the survey uncovered that demand for foreign talent is greater now than in early 2022. At the time, the Department of Labor reported an all-time peak in H-1B sponsorships. According to the report, 71 per cent of companies report hiring more foreign nationals in the first quarter of 2023 than in the same time last year.
This momentum, according to Envoy, is expected to continue, with employers expected to file slightly more H-1B registrations than in 2022, when a record 4,83,000 were submitted. On March 1, the internet registration session for H-1B speciality occupation visas began. As is customary, once the registration period ends, a lottery will be held to select candidates because the number of registrations far surpasses the yearly H-1B limit quota of 85,000 visas. Indians are typically the primary beneficiaries, accounting for over 60 per cent of new H-1B cap allotments.
The survey further revealed that while 84 per cent of respondents approve of the Biden administration's handling of employment-based immigration, a major barrier is the limited number of annual H-1B cap visas.
The survey report, as in previous years, notes that, despite the high demand for foreign talent in the US, immigration barriers are forcing employers to relocate foreign national employees abroad and outsource jobs. With 62 per cent of respondents saying that employees were relocated to this neighbouring nation, Canada stood to benefit. This was followed by Mexico and the United Kingdom (both with 48 per cent positive answers).
In addition to establishing one or more entities outside the United States, American companies are exploring the formation of a Global Employment Company and relocating employees to other countries via an 'Employer of Record' or a 'Professional Employer Organization' or another contracting method to continue working with them indirectly.
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