Finding Talent
Finding Talent
This chapter closes in on the talent crisis with regards to the US chip industry. Through the globalization of the supply chain as well as the job loss to lower cost foreign engineers, high-tech companies have been issuing a “crisis warning” for engineering shortages. A debate between economists has risen regarding the imbalance in the engineering labor market, wherein the heart of the public debate is founded on two sides of the marketplace: The engineers; and their employers. Employers seek low-cost engineers with extensive knowledge, whereas engineers desire good compensation along with a promise of career development. The chapter then provides demographics and charts to reveal the relationship between engineers and their earnings. On a larger scale, the semiconductor industry has strengthened its global brain circulation, providing offshore opportunities for engineers in developing countries. However, these policies create complexities in the US supply of engineers due to issues that may arise in immigration and education.
Keywords: crisis warning, US chip industry, engineering labor market, engineering shortages, semiconductor industry, global brain circulation
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