Expats give competitive edge over others: Global execs

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Expats give competitive edge over others: Global execs
New Delhi: Most of the Indian companies feel that hiring expat employees is beneficial as it gives them corporate advantage over other. This is the finding of a survey that covered more than 500 executives across the world and was carried out by payment solutions provider Western Union. As many as 74 percent of business leaders based in Asia Pacific region and 76 percent worldwide said international workers have a positive impact on the economy. Two out of every three respondents globally said foreign workers provide their businesses with competitive advantages, according to The Economic Times.

Around 60 percent of respondents indicated that the current global economic recession will not change their hiring practices towards foreign workers with about 11 percent saying they are now more likely to hire foreign workers. "While economic insecurity is putting politicians under pressure to protect jobs for locals, it is clear that business leaders still see an open economy with economic migration as essential to drive the recovery," said Anil Kapur, Managing Director (South and South East Asia), Western Union.

The survey also indicated that about 80 percent of respondents hired international workers because they have the skills to fill specific staffing needs, particularly in senior management, information technology, and sales and marketing. Also, one in five respondents across all industries was dependent on employing international workers.

The survey also pointed out that business leaders also see immigration laws and regulations affecting their ability to hire international workers with over a quarter of those surveyed saying regulations make it difficult to hire a sufficient number of international workers. But companies are not yet pushing their local governments hard enough.

Quoting an estimate of United Nations Development Programme, the survey said international mobile workforce represents more than 200 million people. It added that when economic recovery gains momentum, businesses will seek more international employees.

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