Local hiring shortage creates concern within the mobility arena
Hanna Asmussen, CEO and co-founder of Localyze, is raising a red flag about how new immigration policies could affect UK businesses. With the Labour government aiming to cut down on legal migration and focus more on local hiring, there’s a real worry that British companies might struggle to stay competitive on a global scale.
Upskilling local workers is definitely important, but it won’t fully address the issues caused by an aging population. Reducing migration won’t fix the talent shortages in critical areas or help the economy recover from Covid. In fact, these changes might make things even tougher and impact the country’s economy and culture negatively.
In December 2023, the Conservative government made changes that increased the minimum salary for skilled foreign workers from £26,200 to £38,700. This has made it harder for businesses to bring in talent from abroad. The delays in processes is also a real problem for sectors like tech, finance, and healthcare.
Even though Labour is now in power, there hasn’t been much change in the approach to immigration. Businesses are still facing hurdles when trying to hire international talent, which could hurt their ability to grow and compete. Asmussen points out that without access to both local and global talent, the UK risks falling behind.