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Sponsoring Migrant Workers: Impact of Immigration Policy Changes on Foreign Graduates
UK-based giants Deloitte and KPMG have withdrawn job offers to foreign graduates due to recent changes in UK visa regulations. The government's decision to raise the salary threshold for skilled workers has left many companies scrambling to comply, impacting their recruitment strategies.
The new visa requirements clash with the typical salary ranges offered by the ‘Big Four’ consulting firms, causing disruptions in their hiring plans. KPMG has already rescinded job offers to some foreign graduates and plans to fill these roles with candidates already eligible to work in the UK.
Affected graduates were told they couldn't defer their positions to 2025 and were advised to consider transferring to other graduate programs in 2024. Deloitte has retracted about 35 job offers to foreign graduates, raising concerns about the UK's ability to attract top talent and the potential impact on the country's economy.
Employers have been criticised for not adjusting salaries to meet new requirements, accusing them of being unwilling to invest in top talent. Conversely, hiring sponsored staff at higher wages than their peers could result in equal pay and discrimination claims.
The Financial Times reports that HSBC has withdrawn offers to several foreign graduates, especially in digital innovation roles for its Sheffield office, despite them already participating in welcome events and being assigned mentors.
One frustrated graduate shared their feelings with the Financial Times, stating, "I had three other offers that I rejected... After spending £50,000 on attending university in the UK, I now have to return to my home country."
How can UK Visas help?
We can assist foreign graduates in navigating this new landscape and provide expert advice on sponsoring migrant workers, Global Business Mobility, and skilled worker routes. Contact us today to learn how we can help your business attract and retain international employees. Email us at [email protected] or call 01403 801801.