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Survey: American businesses struggle to hire STEM talent

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Survey: American businesses struggle to hire STEM talent

Increasing scarcity, higher costs and government fees cited as problems.

A survey released today by The American Competitiveness Alliance, a coalition of organizations dedicated to advancing common-sense immigration policies, highlighted the increasing challenges businesses face when recruiting STEM and IT professionals, including scarcity of talent, climbing administrative and regulatory costs, and constricting wage pressures.

We clearly need policies from Washington that support growth, not slow it."

As a result of this scarcity, wages have steadily increased for high-paying, in-demand positions in STEM fields, with three in four executives reporting higher salaries for their STEM workers than in the previous five years. Further, many of these jobs go unfilled for weeks or even months due to the limited pool of qualified candidates and increasing costs associated with recruitment and retention of skilled employees. Subsequent economic pressures decrease productivity and limit expansion, negatively impacting the marketplace and hampering job growth.

The survey – conducted by the Benenson Strategy Group – analyzed responses from 400 hiring managers and executives from companies nationwide and found that:

  • 8 in 10 executives report their company is investing more in STEM recruiting as a result of IT hiring challenges;
  • 82% of business professionals report hiring a skilled foreign worker costs as much or more than hiring a U.S. worker;
  • 3 in 4 professionals say the costs associated with sponsoring and complying with the H-1B visa program are already too high for most American companies.

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