Top CEOs Say Trump Courts Economic Failure Through Anti-Immigration
The second most powerful woman in the world grew up in Chennai, India, (formerly Madras) according to Forbes, while 400 miles away, Time Magazine’s Top 100 Leader was born in Hyderabad.
What they have in common is a simple algorithm. What made Indra Nooyi and Satya Nadella the leaders they are today is that they are both Americans. Until they arrived in the United States, they had good futures, but it takes a country to create a great future.
This is no anthem to patriotism or ringing the bells of liberty. It is a data based analysis that a combination of talent, risk-taking, capital availability, and reasonable regulation turns on the great engine of capitalism. Let’s add, the same engine powers innovation does the same for charitable giving.
President Trump’s administration has chosen to throw sand into the engine of the H-1B visa program, which is the same ship that brought Nadella and Nooyi here. Whether this is related to a perception of good jobs going to non-citizens or something about the border wall, the way our government is going about this will have a detrimental effect on technology and innovation.
But it is not limited to Silicon Valley.
Now, the most highly respected group of business leaders in the world has spoken up in a letter to Kirstjen M. Nielsen, Secretary, Department of Homeland Security. The letter says, “on behalf of the CEO members of Business Roundtable, we write to express our serious concern about changes in immigration policy that are causing considerable anxiety for many thousands of our employees while threatening to disrupt company operations.”
They have four main beefs: “inconsistent immigration decisions,” which means a government adjudicator can disagree with prior approvals; also, “uncertainty about required information” meaning an application may be approved one month but may not be approved when the visa holder tries to extend status later on; then there is ‘revoked status for spouses,” which is a backdoor for denying entry by refusing to allow the spouse to work; finally, “commencement of removal proceedings,” sounding like something out of George Orwell, means any time legal status is not extended, employees face removal proceedings even if they plan to depart the country.
The CEOs make the point that this behavior increases the chance that a ‘long-term employee, who has followed the rules…will lose his or her status.” The people who signed this letter aren’t the ranting type. They are the most conscientious business leaders in the world.
The spread of anti-immigrant concern could affect customers as well. International sales are at risk if international markets conclude America has become belligerently anti-immigrant. Then there is also the likelihood that companies with stronger international teams will pull an old trick of ours, produce better products with former American immigrant ingenuity.
The bottom line is America is a rich country, but the one thing we can’t afford is immigration failure. The political issues have to be worked out, but while Washington grinds its way through these, the companies need to put people to work.
Are you listening, Mr. President?
The views expressed in this article do not necessarily reflect those of Thunderbird School of Global Management or Arizona State University as a whole.
Jeff Cunningham is an advocate for enlightened global leadership, which he calls the most valuable natural resource in the world.
He is a Professor at ASU’s Thunderbird School of Global Management and was the former publisher of Forbes Magazine, startup founder, digital content CEO, and ran an internet venture capital fund.
He travels the globe in search of iconic leaders. As an interviewer/host, he created a YouTube interview series, Iconic Voices, now co-produced by @Thunderbird, featuring mega moguls from Warren Buffett to Jeff Immelt. His articles on leadership have been featured in the Arizona Republic, Forbes, Chief Executive Magazine, Board Member Magazine, LinkedIn and Medium via JeffCunningham.com.
His career experience includes publisher of Forbes Magazine; founder of Directorship Magazine; CEO of Zip2 (founded by Elon Musk), Myway.com, and CareerTrack.com; venture partner with Schroders. He serves as a trustee of the McCain Institute and previously as a trustee of CSIS and Middle East Institute, and as an advisor to the Nobel Peace Prize Committee.
He has also been a board director of 10 public companies.
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