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Tapping into the full diversity of talent in Australia is a business imperative, yet hundreds of thousands of "incredibly skilled" refugees and migrants are working beneath their skill level.

With one in four permanent skilled migrants in this situation, employers have a "tremendous opportunity" to build more productive and diverse workforces, Settlement Services International head of strategic relations Dane Moores tells HR Daily.

After research conducted last year found reducing employment barriers for refugees and migrants could add billions to the Australian economy, almost 60 organisations have joined Billion Dollar Benefit – a coalition of businesses, unions, peak bodies, research institutions and NGOs committed to this goal.

The findings include that one in four permanent skilled migrants work below their skill level; only 33% of permanent arrivals have their post-school qualifications recognised in Australia; and applicants from ethnic backgrounds are 57% less likely to be considered for leadership roles in Australia, despite identical resumes...