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KPMG: Crisis didn’t dent businesses’ urge to source skilled labor from overseas

Despite the effects of the economic slowdown over the recruitment wage costs, the businesses' urge to source skilled labor from overseas remained strong, reveals a KPMG survey, one of the biggest audit and advisory firms in the world.

Nearly three quarters (73 percent) of the surveyed said that labor mobility allowed them to hire better quality people, while more than eight out of ten respondents (82 percent) agreed that better labor mobility gives them a greater pool of talent from which to choose.

Nearly 70 percent of respondents felt that hiring people from other countries fosters better understanding of global markets, with 76 percent saying that foreign workers help develop a valuable global mindset.

No Of Romanians Working Abroad Seen Down On International Financial Crisis

The number of Romanians working abroad, as well as of foreign employees in Romania, is expected to fall in the light of the international financial crisis, but on medium and long term, multinational companies will continue to depend on labor mobility, according to KPMG survey.In Romania, the labor mobility was subject to changes since the global economic decline started. So far, as more and more Romanians worked abroad, especially in the EU states, local companies started hiring from overseas, especially from China. But the trend is now seen reversing, as less Romanian are seen working in other countries and subsequently the number of forreigners that work in Romania will decrease, said Madalina Racovitan, senior manager of KPMG International Executive Services departmentShe added the economic crisis could cause a short-term interruption of government immigration programs.KPMG also emphasized that work and stay permit procedures for non-EU citizens are too complicated and sluggish in Romania.Racovitan added that the unemployment and the economic crisis might represent an incentive for qualified workers and professionals in developed countries to emigrate, as they are the most affected. The study was conducted in September 2008 - February 2009 where 260 executives in 11 countries participated in the survey. KPMG is a global network of professional firms providing Audit, Tax and Advisory services.

 

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Tags: labor kpmg overseas crisis

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