According to research, over two-thirds (71%) of Australian business leaders planned to hire international talent on a permanent basis in 2022, either because or in anticipation of an inability to find the skills locally.
But what about Australia’s homegrown talent? Surely the hundreds of thousands of university students that graduate each year, often tens of thousands of dollars in debt, could be nurtured and trained, through formal qualifications or mentor schemes, in order to fill the gaps, even at senior levels? Wouldn’t companies be better off filling their labour shortage with local candidates?
Tech Council chief executive Kate Pounder says it’s not as simple as that. “It’s an experience shortage, not a labour shortage.” And in some roles, that experience can only be found overseas, leading business leaders to call for the jobs list, which determines and restricts which skilled migrants can come into the country, to be scrapped for high earners to fill the talent gaps at the top levels.
Grattan Institute economic policy program director Brendan Coates said the system was slow and cumbersome, while The Business Council of Australia said the different lists caused confusion and were overly restrictive. When combined with outdated job classifications, employers faced limited access to global talent, it said.
In answer, Home Affairs Minister Clare O’Neil launched a review into immigration in September 2022, with a final report due in May before the budget. If the criteria for skilled talent is changed, the ability to recruit high-level leaders from overseas could be expanded.
What will this mean for local, domestic graduates, who are currently experiencing their highest levels of full-time employment since 2009? Currently, Australian candidates can expect a modicum of protection from the processing system, which takes three to six months for a skills visa to be processed in Australia, compared with just 10 days in the United Kingdom and Canada and 15 days in the US. But if the system is revolutionised and revitalised, those times are likely to drop, leading to bigger competition internationally. What do you think? Would you prefer to ‘partner’ with a local, domestic candidate or seek someone with more international experience?