Changes to Skilled Worker Visas will impact access to global executive talent pool, says AESC
31.5.2017 23:00 | NASDAQ OMX
Call to reconsider visa changes in light of negative 'unintended consequences'
SYDNEY, Australia, May 31, 2017 (GLOBE NEWSWIRE) -- There was collective concern expressed this week amongst members of the Association of Executive Search and Leadership Consultants (AESC) over the impact of recent changes to immigration regulations. It was agreed the changes may detrimentally affect Australia's ability to attract high calibre global talent. The AESC members are drawn from the top executive search and leadership advisory firms across Australia.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e6feb0f1-41e3-4a21-97e6-2300cdce7b5c
"We are collectively concerned that the mooted changes to Australia's Skilled Worker Visa arrangements will impact access to the global executive talent pool," said Graham Willis, AESC Chair for Australia. "On a daily basis our members are dealing with the deep executive talent pools that exist within Australia. However, these talent pools do not always offer the depth of executive experience needed to meet the future needs of a business. With executive recruitment now a global story and given rapid disruptive changes in the market, Australian companies must ensure they are globally competitive."
Mr Willis said there were thus many times that executive search and leadership advisory firms needed to step outside Australia, tapping into overseas talent or attracting the rich experience of Australians who have built careers overseas.
"The decision by a Senior Executive to relocate-whether for offshoring or onshoring-is not one taken lightly; nor is the decision by Australian companies to employ overseas talent," he said. "It is significant that the collective view of Australian AESC members this week was that the proposed 457 and 186 visa changes are likely to be counterproductive in attracting the very best executive talent to Australia."
The comments follow the 18 April 2017 announcement by the Australian Prime Minister, the Hon Malcolm Turnbull MP, and his Minister for Immigration and Border Protection, the Hon Peter Dutton MP, and reference their proposal that the Temporary Work (Skilled) visa (subclass 457 visa) be abolished and replaced with the new Temporary Skill Shortage (TSS) visa. Changes to the subclass 186 visa were also announced-including the extension of age limits. These would set a new maximum age limit of 45 years old for executive-level professionals to obtain 186 visas, significantly restricting Australia's access to +45 year old top senior executive talent.
"The executive search and leadership consulting profession recognises the benefits of promoting local talent pools, however, AESC's central concern is that the proposed visa changes will serve to restrict onshoring of key leaders and access to specific and specialised skills in the global market," said Graham Willis.
Mr Willis noted that diversity of talent was essential to Australia's economic success, especially leaders who bring experience working in global markets or with specific skills. The skills and background required for successful senior level appointments cannot always be found locally, and for businesses to gain a competitive advantage in their increasingly global industries, mobilisation of executive talent across borders is critical.
AESC members also expressed concern about the proposal to establish a new two-year renewable visa-only able to be renewed once-and the closing of pathways to permanent residency status for some senior executives. "The view of our profession generally is that a two-year visa will likely create unnecessary and often irreconcilable risk both for Australian companies whose investors seek leadership certainty while, at the same time, top candidates seek both flexible, and long term contracts, of more than four years duration," said Mr Willis.
AESC noted that lack of employment security reduces the attractiveness of senior executive positions to overseas talent not available locally. AESC members also expressed concern that the closing of the pathway to permanent residency for company sponsored executives will create a talent vacuum-a loss of long term capability building Australia's talent ranks-and executives who have, historically, made long-term contributions to Australia.
"Executive Search and Leadership Consulting firms fully appreciate the depth of executive talent within the country, and understand the intention and desire of this legislation to protect opportunities available to Australian citizens," said Steve Mullinjer, AESC Global Vice Chair and Chair of AESC's Council of Asia Pacific and the Middle East. "However, for true economic opportunities for Australia and its citizens, it is essential that Australian companies have access to talent that can best deliver the greatest business outcomes." He reinforced the point that AESC's experience confirmed that high performance from any company requires leadership expertise that is diverse, experienced and can drive transformation and change.
"AESC members play a critical role in ensuring that organisations have the greatest competitive advantage-a direct pipeline of outstanding talent to encourage and facilitate greater output, innovation and productivity," said Mr Mullinjer. "To best position Australian business to be competitive on an international scale and reward prosperity for Australia, AESC and its Australian membership, we urge the government to reconsider the unintended consequences of the legislation."
About the Association of Executive Search and Leadership Consultants
AESC is the voice of excellence for the executive search and leadership consulting profession worldwide. Its rigorous Code of Professional Practice guides our members in nearly 1,300 offices in 74 countries and beyond to serve as strategic advisors on behalf of their clients. In turn, AESC members are best positioned to provide companies with a competitive advantage-the ability to find, attract and develop the best talent in the world and ensure that executives are successfully integrated.
By virtue of selecting an AESC member, clients can be secure in their choice of consulting firm, and can reap the benefits that only a trusted advisor can deliver. To learn more about AESC and to view a list of AESC members, visit www.aesc.org. To learn more about AESC's career service for executive-level candidates, visit www.bluesteps.com.
Joe Chappell, AESC
+ 1 (212) 398 9556 ext. 236
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Association of Executive Search & Leadership Consultants (AESC) via Globenewswire
Följ NASDAQ OMX
Skriv in din e-postadress så får du ett mejl när vi har något nytt att berätta.
Senaste nyheterna från NASDAQ OMX
Minerva Neurosciences Announces Pricing of Public Offering of Common Stock29.6.2017 00:47 | Pressmeddelande
WALTHAM, Mass., June 28, 2017 (GLOBE NEWSWIRE) -- Minerva Neurosciences, Inc. (NASDAQ:NERV), a clinical-stage biopharmaceutical company, today announced the pricing of an underwritten public offering of 5,000,000 shares of its common stock at a price to the public of $7.75 per share. Proceeds to Minerva from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $38,750,000. The offering is expected to close on or about July 5th, 2017, subject to customary closing conditions. Citigroup and Jefferies are acting as the book-running managers for the offering, and JMP Securities is acting as lead manager for the offering. Minerva has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of its common stock, on the same terms and conditions. Minerva intends to use the net proceeds from the offering, together with its existing cash and investments, to fund part of th
Yandy.com Celebrates Baywatch Movie With Inspired-By Swim Collection28.6.2017 20:18 | Pressmeddelande
Yandy launches swim collection for domestic and international consumers PHOENIX, June 28, 2017 (GLOBE NEWSWIRE) -- Yandy.com, the leading online retailer of intimates, swimwear, and specialty apparel, announced today the top-performing swimsuits from its Baywatch ® swimwear collection. To celebrate the film's U.S. release - Yandy.com produced, marketed and sold three swimwear designs inspired by looks worn by the movie's female lifeguard characters. The new Baywatch movie follows devoted lifeguard Mitch Buchannon (Dwayne Johnson) as he butts heads with a brash new recruit (Zac Efron). Together, they uncover a local criminal plot that threatens the future of the Bay. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/7d66d8a5-c973-4449-be85-6289c481671c Yandy's release of the Baywatch-inspired collection in May demonstrated an immediate interest among domestic consumers. No
Nasdaq's Directors Desk® and Boardvantage® to Introduce Board Assessments and Compliance Questionnaires28.6.2017 16:05 | Pressmeddelande
A Unique Collaboration between Nasdaq Corporate Solutions and the Center for Board Excellence NEW YORK and GREENSBORO, N.C., June 28, 2017 (GLOBE NEWSWIRE) -- Nasdaq Corporate Solutions, a business of Nasdaq, Inc. (Nasdaq:NDAQ), announced today a new partnership with The Center for Board Excellence (CBE), a provider of board assessments and compliance questionnaires. In the first phase of the partnership, Nasdaq Corporate Solutions will facilitate introductions for users of Directors Desk and Boardvantage - Nasdaq's board portal and meeting management solutions - to CBE's cloud-based corporate governance solutions including: board and committee assessments; director peer assessments; CEO and management evaluations; and directors' & officers' questionnaires. Later this year, the parties plan to offer an integrated workflow between Nasdaq's board portal solutions and CBE's EnGauge(TM) platform, making it even easier for users to elect to benefit fr
Datameer : Datameer Announces Industry-First Solution for Deploying AI to the Enterprise at Big Data Scale28.6.2017 15:00 | Pressmeddelande
New Datameer SmartAI democratizes data science within organizations by operationalizing deep learning models with enterprise scale and governance SAN FRANCISCO, June 28, 2017 (GLOBE NEWSWIRE) -- Furthering its mission to democratize data access within the enterprise, Datameer today unveiled SmartAI, an industry-first solution for operationalizing deep learning models directly within enterprise data lake environments securely and at scale. SmartAI finally allows enterprises to democratize data science, taking the deep learning work of data scientists from the lab to the business in production-ready scenarios that meet the big data security, governance and management standards IT requires. Now, business analysts can apply and execute trusted deep learning models against massive datasets from enterprise data lakes to drive better business outcomes. "With all the promise of data science and artificial intelligence, organizations have had difficulty delivering on its busi
Imperial Capital Hires Two Senior Sales Professionals Forming a Dedicated Convertible Institutional Sales Group28.6.2017 14:30 | Pressmeddelande
LOS ANGELES, June 28, 2017 (GLOBE NEWSWIRE) -- Imperial Capital Group, LLC ("Imperial Capital") announced today the hiring of James P. Kenney and Kevin Cadden, two senior institutional convertible sales professionals, forming a dedicated Convertible Sales Group, while adding to the franchise's continued credit sales & trading growth initiatives. The group will be responsible for expanding Imperial Capital's existing credit sales and trading business further into convertible products while working with a team of seasoned trading and research professionals to provide its institutional clients with valuable market color, trading ideas and excellent execution in both the fixed income and equity markets. "With the hiring of James and Kevin, we are able to provide our institutional clients with a team of veteran sales and trading professionals specializing in the convertible bond marketplace," said Tom Corcoran, President of Imperial Capital. "The team bri
AGF Management Limited Reports Strong Second Quarter 2017 Financial Results28.6.2017 14:00 | Pressmeddelande
30% growth in mutual fund gross sales compared to prior year quarter 50% of ranked AUM performed above median for the one-year period ended May 31, 2017, and 53% for the three-year period Achieved final close of InstarAGF Essential Infrastructure Fund (EIF) with $740 million in commitments Reported Diluted EPS of $0.16 compared to $0.12 in Q2 2016 TORONTO, June 28, 2017 (GLOBE NEWSWIRE) -- AGF Management Limited (AGF or the Company) today announced financial results for the second quarter ended May 31, 2017. Total assets under management (AUM) increased 8.0% to $36.4 billion compared to the same period in 2016, and up 3.7% compared to $35.1 billion as at February 28, 2017. AUM increased across all lines of business, including retail, private client, institutiona
I vårt nyhetsrum kan du läsa de senaste nyheterna, få tillgång till pressmaterial och hitta kontaktinformation.Besök vårt nyhetsrum