Chief financial officers want to overhaul the country's immigration policy, according to a survey by Duke University/CFO Magazine Global Business Outlook.
The quarterly survey of 1,143 CFOs found that 88 percent think the United States should drop its current lottery system for foreign workers and instead adopt a merit-based system to determine who can immigrate to this country.
The majority also want it the government to make it easy for foreign science and technology undergraduate students studying in the United States to obtain H1B work visas, and to routinely give green cards to foreign grad students in advance science and technology.
“The collective opinion of corporate America is that the United States needs to become more welcoming to highly skilled and educated workers,” said Kate O’Sullivan, editorial director at CFO Magazine. "Otherwise, the U.S. risks a train-then-drain scenario, in which skilled workers are educated in the United States but then leave due to the difficulty in finding permanent employment."
— Despite improvements in confidence, CFOs consider there to be a 33 percent chance the U.S. will slip back into recession in the next 12 months.
— Nearly 40 percent of U.S companies plan to make an acquisition in the next 12 months.
— U.S. companies plan to increase business spending by 5.3 percent this year.
— About 23 percent of U.S. CFOs believe the dollar is overvalued, somewhat greater than the 17 percent who believe it is undervalued.
The survey, which concluded March 8, spans companies in the United States, Asia, Europe and Latin America.