Forecasting

As the year wraps up, you may find yourself trying to get a handle on your immigration budget. Bridge provides tools or resources to use in your year-end immigration review and forecasting process.

We are releasing the Job Bank feature to improve role standardization, forecasting, and talent management within your immigration workflows.

An HR guide for measuring immigration programs and helping People teams to benchmark their immigration function.

For budgeting and forecasting, you use historical spending data and future max-out dates to help you make accurate projections of future spending. As a result, you can anticipate the next steps in the immigration process and know the costs associated with each international hire. You can also leverage that data to refine your immigration policy and practices to ensure there is a positive ROI and that your policies are relatively competitive across industry peers.

As one of the critical metrics to help you assess the effectiveness of your recruiting efforts, the cost per hire can vary greatly for international employees. And while the investment in international talent is worth it for the skills it brings into your organization, you need better tools for budgeting and forecasting immigration costs.

If it feels like your process for tracking spending varies tremendously for each international candidate, it may be time to consider re-evaluating how to create an immigration budget. By building your understanding of key levers of immigration costs and how your historical sponsorship costs add up you can more accurately forecast the future.