This Contingent Workforce Index was developed in 2013 to provide an in-depth review of the global contingent labor market. Initially, ManpowerGroup Talent Solutions focused exclusively on the contingent workforce across 76 markets. The Contingent Workforce Index addressed only a portion of the talent landscape. With the surge of employers committed to global workforce management and integrated workforce programs, the annual index evolved in 2017 to include the total workforce. The total workforce consists of both the permanent and contingent workforces, along with the subset of contingent workers, identified as the informal workforce.
The segmented views of the global workforce provided by the Total Workforce Index™ enable organizations to easily benchmark their own workforce mix and cost efficiency across global operations to create a total talent solution. For the first time, employers have one resource that provides a global perspective on remote workforce enablement, gender diversity, millennial impact, informal (gig) workforce participation and the gap between permanent and contingent workers from one market to the next.
The Total Workforce combines people in the contingent workforce and permanent workforces. The total workforce should not be confused with the total labor force. Where the total workforce includes all of the individuals engaged in work activity within a workforce market, the labor force describes both employed and unemployed members of the population who are of working age and who are reasonably able to be engaged for work.
The Total Workforce Index™ measures the relative ease of sourcing, hiring and retaining a workforce in competing labor markets around the world. The Total Workforce Index™ compiles more than 200 key factors that relate to the Availability, Cost Efficiency, Regulation and Productivity of the workforce of each market. Unlike any other workforce index, the ManpowerGroup Talent Solutions’ Total Workforce Index™ considers each aspect of the workforce and its unique dynamics, rather than inaccurately clustering contingent and permanent workers into a broad demographic analysis. The inclusive segmentation of the entire workforce introduces a new level of visibility and enables the review and analysis of all contingent and permanent workforce considerations, in addition to the sum of these two workforce segments.
Also setting the Total Workforce Index™ apart from other reports of a similar nature is the use of a proprietary ManpowerGroup talent Solutions formula. This formula assigns a numerical value to each market, comparing the relative opportunities and potentially negative impacts of entering one labor market versus another.
Just as the Gross Domestic Product (GDP) of a market is used as an economic indicator; the Total Workforce Index™ may be used as an indicator of workforce potential. Total Workforce Index™ rankings provide important perspectives and insights that can influence both short- and long-term strategies involving workforce procurement, including:
In this global Total Workforce Index™ analysis, an equal weight is attributed to each of the four categories: Availability, Cost Efficiency, Regulation and Productivity. A higher Total Workforce Index™ ranking indicates that a market is likely to support higher volumes of hiring − whether contingent, permanent or a combination of both − based on workforce quality and productivity.
The primary data sources for this index are all based on statistics from the ministries of labour for each of the markets within scope, the Central Intelligence Agency (U.S.), World Data Bank, Trading Economics, and internal data collected as part of ManpowerGroup global reporting efforts.
As workforce experts, ManpowerGroup find work for millions of people around the globe every year, helping hundreds of thousands of companies attract, assess, develop, and retain skilled workers.
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