MILWAUKEE, Oct. 11, 2017 /PRNewswire/ -- ManpowerGroup Solutions today launches its first Total Workforce Index™ (TWI) report. The report summarizes the findings of the TWI, the only index of its kind to use a high-tech, high-touch approach. Expert insights are combined with a proprietary formula to compare the workforce potential of markets and help companies ensure their workforce strategy is aligned with their business goals. Through a combination of data and ManpowerGroup Solutions' industry leading experience, organizations can leverage the TWI to develop and execute a Total Talent Management approach to workforce strategy (including all permanent and contingent labor types) based on skills availability, cost efficiency, workforce productivity and regulation.
In a global analysis of 75 markets, the TWI identifies those countries where workforce skills, productivity and labor regulation make it most favorable to conduct business. In the 2017 report, New Zealand, Hong Kong and Singapore come out on top. TWI rankings provide Big Data and fresh insight that can influence both short- and long-term growth strategies for companies. The global ranking equally weights skills availability, cost efficiency, regulation and productivity. This algorithm can be customized to reflect the unique workforce priorities of any organization.
View the full 2017 Total Workforce Index™ at www.totalworkforceindex.com
"Access to skilled talent and effective labor policy are just as important as access to capital and other economic factors for companies when choosing where to locate their operations," said Kate Donovan, Senior Vice President of ManpowerGroup Solutions. "With the new TWI, we can fully customize the formula to match an organization's strategic priorities. Employers can leverage the index and our insight to rapidly develop a workforce with the skill set they need. The global rankings using TWI demonstrate that no country is perfect when it comes to creating an environment for organizations to quickly set up shop. However, we can see those that prioritize effective labor regulation, skills and access to talent - Canada, Ireland, New Zealand, Singapore and the U.S. - are leading the way."
REGIONAL RANKINGS
- APAC: New Zealand, Hong Kong, Singapore, Australia and Philippines rank highly in the APAC TWI. Nearly 60% of the global population sits in the APAC region1. New skills requirements, updated tax policy and labor laws have shifted some of the cost benefit scenarios in the region, now some smaller markets, such as Hong Kong and Singapore are now more effective when sourcing certain skills or supporting shift schedules.
- AMERICAS: Canada and the U.S. hold the top two positions in the Americas region, due to the stable maturity of their workforce, followed by Chile, Uruguay and Mexico. Across South and Central America micro market shifts can have a similarly high impact as large legislative changes on hiring practices, increasing complexity - the lowest ranked countries across the global TWI are also located in the Americas; Paraguay, Brazil, Honduras, Bolivia and Venezuela.
- EMEA: The top five ranked countries in the region are Ireland, UK, United Arab Emirates, Israel and Denmark. These countries are also ranked sixth to tenth in the global top ten countries. The accelerated migration across Europe, coupled with shifting wages and legislation, has altered how skills are dispersed and priced across the region.
About the Total Workforce Index™
The Total Workforce Index™ (TWI) uses a proprietary algorithm to measure the relative ease of sourcing, hiring and retaining a workforce in competing labor markets around the world. The TWI compiles more than 90 key factors which relate to the Availability, Cost Efficiency, Regulation and Productivity of the workforce of each country. Unlike any other Workforce Index, the Total Workforce Index™ considers the entire workforce and not a single segment of the workforce in each country. The inclusion of the complete workforce allows for segmentation, to review and analyze the contingent and permanent workforce considerations, in addition to the sum of these two workforce segments
About ManpowerGroup Solutions
ManpowerGroup Solutions provides clients with outsourcing services related to human resources functions, primarily in the areas of large-scale recruiting and workforce-intensive initiatives that are outcome-based, thereby sharing in the risk and reward with our clients. Our solutions offerings include TAPFIN-Managed Service Provider, Strategic Workforce Consulting, Borderless Talent Solutions, Talent Based Outsourcing and Recruitment Process Outsourcing, where we are one of the largest providers of permanent and contingent recruitment in the world. ManpowerGroup Solutions is part of the ManpowerGroup family of companies, which also includes Manpower, Experis, and Right Management. More information at www.manpowergroupsolutions.com.
About ManpowerGroup
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing and managing the talent that enables them to win. We develop innovative solutions for over 400,000 clients and connect 3+ million people to meaningful, sustainable work across a wide range of industries and skills. Our expert family of brands – Manpower®, Experis®, Right Management® and ManpowerGroup® Solutions – creates substantially more value for candidates and clients across 80 countries and territories and has done so for nearly 70 years. In 2017, ManpowerGroup was named one of the World's Most Ethical Companies for the seventh consecutive year and one of Fortune's Most Admired Companies, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup is powering the future of work: www.manpowergroup.com
1 http://www.unescap.org/our-work/social-development/population-dynamics
SOURCE ManpowerGroup Solutions
For further information: Alec Wescott, ManpowerGroup, (414) 906 6625, alec.wescott@manpowergroup.com
