Top 10 Markets for Total Workforce Engagement
The top 10 markets, based on the rankings of the Total Workforce Index™, are led by three APAC region markets: New Zealand, Hong Kong and Singapore. Rounding out the top five are the United States and Canada, both in the Americas region.
Worth noting is the fact that 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 result would be that this market rises to one of the top ranked positions.
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. That said, the weighting of the Total Workforce Index™ categories is fully customizable in a consultative setting. For example, if an organization chooses to weigh cost efficiency and regulatory influencers lower than availability and productivity the top 10 would instead reveal a unique top 10 better suited for that organization's workforce strategy.
Top 25 Markets for Total Workforce Engagement
The majority of the markets in the top 25, but not the top 10, are in Europe, which continues to have many of the world’s more mature workforces. Surprisingly, there are both similarities and differences among top-ranking markets. Some boast mature workforces in addition to more flexible regulations, such as the United States, United Kingdom, Canada, Australia and Belgium. Others offer flexible regulation yet have less mature workforces, including New Zealand, Denmark, the Philippines and Israel. Regardless, each of these markets have secured a top-25 ranking based on above-average performance in two or more categories.
For example, Estonia performs very well in both cost efficiency and regulation while receiving relatively neutral scores in availability and productivity. In a hypothetical top 25 where a higher weighting was attributed to cost and regulatory factors, Estonia would have the potential to rank in the top 10 and possibly even the top five based on organizational priorities.
Workforce engagement priorities and strategies differ widely between organizations, and business priorities have a substantial impact on the development of workforce planning. While the Total Workforce Index™ rankings are standardized for this report, fully customizable reporting based on the Total Workforce Index™ can be created in a consultative engagement to determine the markets that best meet organizational priorities.
Complete Total Workforce Index™ Rankings
The complete rankings for each market relative to the Total, Permanent and Contingent indices show why segmentation of the workforce is so vital to workforce engagement strategy. Considerations for permanent and contingent workers vary greatly across the four categories, and some markets perform far better in one subset of the workforce than in another. In fact, only five of the 75 markets in the Total Workforce Index™ ranked in top 10 in the Total, Permanent, and Contingent Workforce Indices, namely Canada, Ireland, New Zealand, Singapore and the United States.