Workforce availability is an essential consideration when evaluating potential markets. As a category, it is comprised of factors that measure the size of the total workforce, as well as contingent and permanent segments, and supported by an array of metrics that are measured annually. These factors include but are not limited to workforce skill, education, gender parity and the generational breakdowns of the total labor force.
The top markets in workforce availability reflect a weighted preference for English proficiency, education and emerging workers based on current employer sourcing preferences.
As such, the markets with the highest levels of availability for targeted workers do not necessarily reflect the largest or most mature markets. However, these markets do represent competitive hiring opportunities when targeting certain dominant skills in each workforce.
Among these locations, other factors not captured by the Total Workforce Index™ can also impact workforce strategy. For instance, analysts report that nearly 40% of the Australian workforce has the potential to be replaced by automation in the next two decades and current initiatives to better align workforce skills represent opportunities for improved workforce strategies.
On the other hand, the nearly 20% of self-employed skilled labor in The Netherlands is fueling the momentum of the gig economy in Northern Europe. Despite higher labor costs, The Netherlands has one of the most skilled, highly educated and multilingual workforces in Europe. Languages found in the labor force include Dutch and English along with high proficiencies in German and French. These and similar market specific features affect the favorability of one market over another when matching markets to workforce priorities and skills needed.
For more information, interactive charts and to download the full Total Workforce Index™ visit the Total Workforce Index™ microsite from the link below.