Global, cultural, gender and generational diversity in US companies not only drives greater marketplace innovation and profitability, but it’s an important factor for the American companies to compete in oversees (see American Competitiveness Demands Immigration Reform, by Lauren Leader-Chivee, Harvard Business Review).
According to Ms. Leader-Chivee, a better understanding of customers and users in foreign markets could only come from having a diverse pool of employees, especially from those who share cultural connections with customers. This is a critical element, particularly for American businesses who are heavily dependent on overseas revenues. GE posted 54% in overseas revenues, Ford 51%, Boeing 41%, and Wal-Mart 26%. Furthermore, 46% of the revenues of S&P 500 companies come from outside US. Ms. Leader-Chivee correctly argues for removing the barriers imposed to best foreign students and highly skilled workers because they could make a significant difference inside US companies. An appropriate immigration approach will allow American companies to “field a diverse array of talent that no other country can match. In the economy of the twenty-first century, that’s an advantage we can’t afford to miss.”
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