- Cost Efficiency
The markets that rank highest in the Total Workforce Index™ are those with the highest relative performance across all four categories. The ability to perform well across two or more of the four main categories, in addition to having a minimal regulatory impact and large workforce availability, make these ten markets the most generally favorable for workforce engagement.
With a heavier focus on remote-ready workforce metrics, such as technical infrastructure, language proficiencies and skills availability, the United States rises from 5th to 1st, year-over-year. Meanwhile, New Zealand climbs from 3rd to 2nd place. Canada enters the top five for the first time since 2017 due to the addition of remote skills availability factors to the Index, among other weighting adjustments made for 2020.
Through each iteration of the Total Workforce Index™ and despite the weighting’s adjustments and addition of over 50 factors since it’s inception, several markets are consistently featured in the top ten markets each year. Hong Kong, the United States, New Zealand, Singapore and Canada have appeared in each of the annual reports in the top ten markets for workforce engagement. This pattern demonstrates stability in these more mature workforces as well as skills availability, language proficiency and moderately flexible regulatory factors.
The overall rankings are influenced equally by the scores for each market in all four categories. If a global market were to perform ‘very good’ to ‘excellent’ in two or more of the four categories, the result would be a rise in ranking overall. Markets with more variation in scoring and performance across all four categories typically fall in the middle of the spread and will not score as well overall when categories are evenly weighted.
The weighting of individual Total Workforce Index™ factors as well as categories is fully customizable in a consultative setting. For example, if an organization chooses to weigh cost efficiency and regulation influencers lower than availability and productivity, the top 10 would instead reveal a unique top 10 workforce markets better suited for that organization’s workforce strategy. Additional analysis of the reasons behind the data rankings would benefit organizations seeking to use the Total Workforce Index™ to inform their business and hiring strategy.
As workforce experts, ManpowerGroup find work for millions of people around the globe every year, helping hundreds of thousands of companies attract, assess, develop, and retain skilled workers.
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