TOTAL WORKFORCE INDEX

WORKFORCE COST EFFICIENCY

Cost is a factor many organizations focus on when evaluating the hiring of additional skills. Workforce cost efficiency provides insight into the total cost of labor beyond compensation and is inclusive of statutory burdens and other costs.

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Calculating Workforce Cost Efficiency

The primary data sources for this index are all based on statistics from the ministries of labour for the 75 markets within the scope, the Central Intelligence Agency (U.S.), World Data Bank, Trading Economics, and internal data collected as part of ManpowerGroup global reporting efforts.

Top Ten Markets for Total Workforce Cost Efficiency

Certain engagements do not require specialized skills or English proficiency. Where this is the case and the skills needed are broad enough, many employment organizations can focus primarily on the metrics related to the cost of skills. While the majority of these markets rank very favorably relative to cost, they do not fare as well when ranked for Availability, Productivity or Regulatory impact.

The only exception being the Philippines which ranks well consistently across the other categories. This is due to additional investments that the Philippines has made into its workforce allowing this market to emerge as a global leader. Cost efficiency may remain a primary influencer driving new investments in this market. However, the availability of skills and English proficiency has continued to improve.

Along the same narrative is Vietnam, which has made bold moves to improve English proficiency along with strengthening the availability of technology skills such as application development for mobile platforms. This expansion of skills is being driven primarily by growth in investment from outsourcing companies.

Comparison of the Top Five Markets for Workforce Cost Efficiency

Size of the bubble reflects the Relative Availability of each market, while the color reflects Relative Regulation

  • Minimal Regulatory Impact
  • Moderate Regulatory Impact
  • Restrictive Regulatory Impact

Comparison of 2017 vs 2018 for Workforce Cost Efficiency

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2017 Top 102018 Top 10

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