Most employees who receive H-1B visas are hired to fill roles at asset managers that require technology skills, says Alan Johnson, managing director at Johnson Associates. BlackRock and Fidelity were each recruiting for tech jobs last year. Large firms with sophisticated recruitment teams are generally more likely to use the visa program, Johnson adds.

“The first thing firms are going to think about is: ‘Do we have an office around the world where we can put these people,’” he says. For example, companies can relocate positions they’d intended to be based in the U.S. to overseas offices.

Another option might be asking candidates to start their new jobs in January, Johnson says. The suspension of the visa program is set to end Dec. 31. And the presidential election could result in a change of the government’s immigration policies.

And the third option, he says, would be to fill those roles with U.S. citizens, Johnson says. However, he adds, that could be easier said than done.

Fund Fire / June 24, 2020