ManpowerGroup Talent Solutions' unique Total Workforce Index™ (TWI) combines Big Data with expert analysis to identify the workforce engagement potential of 76 markets. The annual TWI report finds United States, New Zealand, Canada and Ireland are most attractive for employer investment based on 200 factors evaluating skills availability, cost efficiency, regulation, and productivity. By using the Index, businesses can make data-driven decisions to inform their short- and long-term workforce planning needs, including location strategy, remote work allocation, capacity planning, cost savings, workforce mix, and more.
For this year’s analysis, ManpowerGroup Talent Solutions took a deeper look at talent availability, comparing the percentage of remote-ready workforces in different markets and exploring the availability of cybersecurity resources. The ManpowerGroup (NYSE: MAN) Talent Solutions’ Total Workforce Index™ 2020 reveals the United States, New Zealand, Canada and Ireland as top labour markets across the globe for sourcing, hiring and retaining workforce skills.
With the right combination of data and insight, companies can ensure their workforce strategy is aligned to their business strategy. ManpowerGroup has spent decades developing strategies and tools that organizations can leverage today to face change. The Total Workforce Index™ is a robust tool companies can leverage to make decisions for a reimagined future. IT skills, particularly those that support remote work such as cybersecurity, continue to be in demand, along with an ongoing need for medical, operations and logistics and those roles deemed essential.
Jonny Edgar, Solutions Director of ManpowerGroup Ireland states "The need to have a workforce that can sustain unexpected shifts is more important than ever before. Employers are thinking long-term when it comes to their entire workforce. We have proven businesses can run in a different way. It’s important to not only identify what’s sustainable in this new normal, but to bridge the skills and technology needed to realistically sustain these new ways of working.
Overall Ireland places 4th out of the 76 regions studied which is very positive and reflects both the competitiveness and quality of Ireland as a global business market. Irish businesses can have confidence in the sustainability of our business models and I would encourage organisations to engage with the report and take on board the key findings from a strategic context into 2021".
Top 5 Insights from the TWI 2020
1. As more global employers evaluate remote workforce strategies, the readiness of a market encompasses far more than just a cost analysis.
2. While workforce skills continue to drive the value and direction of a workforce, it’s the definition of requirements associated with jobs that is evolving in response to current market conditions.
3. Employers can no longer default to just the available mix of labour. Rather, they must proactively determine the optimal mix of permanent and contingent labour types in their organisation based on their business priorities.
4. With brand new roles and skillsets emerging, wage pressure has intensified, as has the need to find or build talent with the skills to fill new and emerging roles.
5. Despite unemployment numbers improving in the second half of 2020, there are large segments of the workforce not actively reengaged, representing an opportunity for employers to redefine job requirements and opportunities.