Contingent Workforce Index 2016 Global Analysis
Contingent Workforce Index 2016 Global AnalysisDOWNLOAD
The Contingent Workforce Index (CWI) measures the relative ease of sourcing, hiring and retaining a contingent workforce in competing labor markets around the world. The CWI compiles more than 50 key data points around the Availability, Cost Efficiency, Regulation and Productivity of each country’s contingent workforce. Then, using a proprietary formula, a numerical value is assigned to each country that provides a comparison of the relative opportunities of entering one labor market over another.
Just as a country’s Gross Domestic Product (GDP) is used as an economic indicator, the CWI may be used as an indicator of contingent workforce availability. CWI rankings provide perspective and insight that can impact both short- and long-term strategies involving contingent workforce procurement, including:
- Capacity planning
- Recruitment strategies
- Location strategy
- Workforce budget and forecasting
- Cost-saving initiatives
- Organizational restructuring
- Merger and acquisition
In the global CWI analysis, an equal weight is attributed to each factor: Availability, Cost Efficiency, Regulation and Productivity. A higher CWI ranking indicates that a country is likely to support higher volumes of contingent hiring, based on quality and productivity, with greater cost efficiency and ease of doing business.