Recent changes in the points system have seen additional points being offered to those people applying with Science, Technology, Engineering and Mathematics (STEM) qualifications.
The pass-mark for Skilled Visas is currently 65 points and as a result of the 16 November, 2019 changes an additional 15 points are offered for those with these STEM qualifications. This provides a significant advantage for those with these qualifications to come to Australia to support the growth of hi-tech businesses in Australia.
Businesses in Australia such as Atlassian, CSL, Cochlear, Resmed, Rode Microphones and Wise Tech Global to mention just a handful are leaders in their fields.
In a recent interview with the ABC WiseTech Global CEO Richard White identified that Australia is probably short of about 200,000 people across the whole marketplace. He further identified that the company is employing about 15 people each month.
There is no real alternative but for Australia to draw from countries overseas, as the skills simply do not exist in Australia. This means that growth is inhibited.
In the US the top 5 companies are all hi-tech: Microsoft, Apple, Amazon, Alphabet (owns Google) and Facebook, while in Australia the top 5 companies are BHP, Commonwealth Bank, Rio Tinto, CSL and Westpac. Here CSL is the only company that could claim to be as hi-tech.
Since the hi-tech business sees no borders Australian hi-tech companies see no alternative but to look to opening offices overseas in US, UK and other countries to combat this skill shortage.
Although there are currently over 40,000 university students in these fields, this will not satisfy future demands.
Author: Graham Copson (MARN 1575606)
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