Nearly 33% of R&D executives surveyed report that they have already felt the effects of economic nationalism on their R&D talent acquisition or retention because of visa or work restrictions — either losing employees, seeing less talent available or in hiring more local talent.
Although nearly 66% of all participants surveyed say they have not experienced pressure to change their approach to innovation in their headquarters country to date, 23% say they have already experienced such pressure in another country.
Almost 50% of the companies in North America plan to make changes to their R&D programs over the next two years in response to the changing political environment.
Survey participants believed US, UK, and China could be most at risk from potential changes in policy that could impact R&D investment. Both the US and UK’s talent flow could be at risk of potential disruption while China’s decline in corporate R&D spending and reliance on R&D investment from abroad could be at risk. Canada, Germany, and France are likely to gain if protectionist policies broadly become a reality.