As President Obama announced his full support for comprehensive U.S. immigration policy reforms this week, Bill Gates, founder of Microsoft and the Bill and Melinda Gates Foundation, discussed how the United States was in need of an immigration reform to retain talented graduates in the country as well.
In a broadcast interview with CNN Money (below), Mr. Gates expounded on missed opportunities to tap high-caliber individuals who have benefitted from education at America’s leading institutions. The reason, Mr. Gates articulated, lies in an immigration system that does not allow them to take on jobs, even if companies are keen on hiring them.
As a firm specialising in Singapore work visa applications, we have over the past year discussed how the US immigration system has let talented graduates fall through the “cracks” and in turn go where they are wanted. Some have been compelled to register a Singapore company in order to tap opportunities in emerging economies.
However, during the same year, Singapore has introduced a slew of measures to slow down the inflow of foreign workers as the country endeavours to restructure its economy. Over the past week, ranking reports by Bloomberg and Ernst and Young have revealed that Singapore’s labour crunch, partly contributed by said policies, has hurt its competitiveness in that category.
The lesson to not throw talent away resonates well in Singapore in spite of current domestic constraints. The Population White Paper, that was released this week unveiled that Singapore will continue to maintain an open door policy to the talented, albeit at a slower pace until 2030.