Canada Immigration

Canadian Global Talent Policies Change: Long Term Economic Benefits

The policies that Canada boasts of to attract global talent has recently garnered a shimmering review from the Graduate Management Admissions Council(GMAC) this time around.

The policies that the Canadian government brandishes now are studied as innovative, including the Global Skills Strategy which was introduced recently. All of these are reassuring the position of Canada to yield multiple economic benefits for the upcoming decades, according to the report.

Canadian Global Talent Policies Change: Long Term Economic Benefits
Canadian Global Talent Policies Change: Long Term Economic Benefits

 

It is fascinating how Canada is putting more effort into attracting international students and making sure that they remain in the country after they graduate. The efforts of Canada on these lines are commendable, enlisting it with 5 other countries that encourage global talent to flow. The list now stands:

 

  • Canada
  • South Africa
  • Korea
  • India
  • China

Going by the demographic hurdles that Canada is experiencing, immigration is the only identifiable remedy. Moreover, according to the article titled “Early Warning Signals: Winners and Losers in the Global Race for Talent”, the singular way that the country can have the talent required to boost its economy is via immigration.

20% of the Canadian population consists of immigrants, but interestingly, they comprise half of the degree-holders of the country in the STEM subjects – Science, Technology, Engineering, and Mathematics. Behind all of the initiatives of Canada to drive the talent in is the Global Skills Strategy which also includes the Global Talent Stream, launched in June 2016.

What’s Inside?

This new scheme introduced a work permit for two weeks which is valid for the professions which the Canadian government considers the most demanding among all. Furthermore, the Global Talent Stream also allowed short-term work permit across the country.

Thus, with this venture businesses are now enjoying a reliable stream of talent from outside the borders of the country. It also helped in reducing the total duration of the process to 10 days which once took around a year.

Global Skills Strategy: Key Highlights

  • The standard fees of processing the applications for a work permit in Canada ( along with the applications for Canadas visa applications) for highly skilled talent.
  • It promises dedicated service for companies striving to create new job opportunities in Canada and making significant investments with regards to the same.
  • It cuts off the duration of the work permit in case of short-term highly skilled work (30 days or less in 12 months), and brief academic stays.
  • The application process due to the Global Talent Stream is now streamlined for the workers of the companies applying for the same. The services which they will enjoy are:
  1. Dedicated service for the clients to successfully guide the eligible employers all along the journey of their application. Furthermore, they will all have access to the Labour Market Benefits Plan, with a service standard of 10 business days.
  2. The work permit applications for the eligible workers won’t be stretched and will take only 10 business days to be processed.

Thus, with the recent decision of the U.S to increase the red tape on the h1B visas whereas its Northern border becoming a rich hub of foreign talent, it is really interesting to see what the future unfolds.

 

 

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