India has jumped almost 19 places up to be at the 5th position globally and in the APAC region at the Manpower Group Solutions’ fourth Contingent Workforce Index (CWI) ahead of the US which fell from 2nd position to 6th. Additionally, India has ranked 1st in availability of large contingent labour workforces. Previously, India had ranked 24th on the index.
The ManpowerGroup Solutions’ fourth Contingent Workforce Index (CWI) evaluates the relative ease of sourcing, hiring and retaining a contingent workforce in competing labour markets around the world. The CWI ranking demonstrates that countries are able to support higher volumes of contingent hiring with greater cost efficiency, based on quality and productivity, with additional consideration of geopolitical factors such as ease of doing business, political stability, regulations, and rankings for economic and financial risk.
"Employers are feeling the talent shortage. Availability of contingent workers, as well as skilled labour, is gaining prominence. As a result, we saw countries like China and India re-emerge into the top ten markets for availability of talent," ManpowerGroup Solutions Senior Vice President Kate Donovan quoted to Economic Times.
Countries ranked by the CWI are evaluated on more than 50 market conditions and statistics that influence contingent workforce conditions.
New Zealand ranks the highest on the CWI, maintaining its earlier rank. The other countries to top the list are Singapore (second), Philippines (third) and Israel (fourth). Other countries in the top ten list included Ireland (eighth), UK (ninth) and Hong Kong (tenth).