Welcome to our latest blog update! Today, we’re diving into the recent changes in the UK’s immigration laws, specifically focusing on the new visa rules that have impacted the ability of companies like KPMG to hire foreign graduates.
This shift in policy not only affects prospective employees but also has broader implications for various sectors of the economy that rely on skilled international workers. Join us as we explore the immediate effects of these changes and what they mean for the future of skilled employment in the UK.
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Today’s blog covers the following:
– Tougher Visa Requirements for Skilled Workers
– Immediate Effects on Graduate Employment
– Broader Economic Concerns
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Tougher Visa Requirements for Skilled Workers
KPMG, a global leader in professional services, has recently canceled job offers to some foreign graduates in the UK following the government’s implementation of stricter visa rules for overseas workers. This move comes after the UK raised the salary threshold for the skilled worker visa, affecting companies’ ability to sponsor international talent.
Immediate Effects on Graduate Employment
The Financial Times reported that the increase in the minimum salary required for sponsoring a skilled worker visa in the UK—from £26,200 to £38,700, and to £30,960 for individuals under 26—has led KPMG to rescind offers to incoming graduates. This decision significantly impacts graduate programs that previously qualified for sponsorship under the skilled worker visa category.
Broader Economic Concerns
The change in visa policy, announced in December 2023, aims to curb immigration but also poses challenges for sectors like IT, architecture, engineering, and creative industries, which heavily rely on skilled foreign workers. KPMG’s response to halt hiring overseas graduates who require skilled worker visas outside of London, except for certain roles like junior actuaries, reflects the broader anxiety in the business community about these new restrictions.
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Looking Ahead
KPMG’s shift in hiring strategy now focuses more on domestic candidates and exploring alternative talent pools, such as recruiting more former prisoners. As the UK tightens immigration policies, businesses are forced to adapt quickly, reshaping the landscape for international students and professionals aiming to work in the UK under the skilled worker visa.
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