"Consulting firms may be less outspoken than tech CEOs, but they're staring down the same staffing problem as Silicon Valley after President Donald Trump introduced a $100,000 H-1B application fee last Friday."
""For many firms, the H-1B route has been a steady pipeline for mid-level consultants with strong technical and analytical skills, roles that are difficult to fill at scale in the US domestic market. Leaders are concerned this change adds further friction at a time when competition for talent is already high," said Ransome."
"The Department of Labor reports that nearly 50% of H-1B applications are related to "professional, scientific, and technical services" - with professional services typically referring to the consulting and accounting work carried out by firms like Deloitte, EY, KPMG, and PwC."
"The changes will boost competition for expertise and accelerate offshoring, analysts told Business Insider."
An executive order introduced a $100,000 H-1B application fee, sharply raising costs for US employers hiring foreign skilled workers. Nearly half of H-1B applications involve professional, scientific, and technical services, a sector that includes major consulting and accounting firms. Consulting leaders rely on H-1B hires for mid-level technical and analytical consultants difficult to hire domestically. Firms such as Deloitte, Accenture, and EY hired thousands of H-1B workers in recent years, representing meaningful shares of their US workforces. The fee increase is expected to intensify competition for expertise and drive accelerated offshoring as firms seek alternative talent pipelines.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]