The Total Workforce Index Summary Report
For eight years, the Total Workforce Index™ (TWI) has measured the relative ease of sourcing, hiring and retaining contingent and permanent workers. It’s the only index of its kind to analyze over 200 factors across 75 competing labor markets, providing a comprehensive and comparative view of four key categories: WORKFORCE SUPPLY, COST EFFICIENCY, REGULATION and WORKFORCE PRODUCTIVITY.
This paper takes a closer look at the macro-level TWI data to identify market characteristics of Mature, Emerging and Incubator markets. It surfaces three important labor market opportunities while looking specifically at investment opportunities in key growth sectors of Digital Services, Advanced Manufacturing and Clean Energy.
Mature markets: These 20 markets are home to the largest contingents of growth talent (average 40% skilled workers) and have infrastructures to support upskilling and reskilling; exposed to wage inflation.
In Mature markets, 40% of contingent work is among highly skilled.
Incubator markets: There are 16 high-potential markets for Digital Services, Advanced Manufacturing and Clean Energy technologies and they provide an opportunity to balance skilled labor with cost competitiveness.
Advanced Manufacturing Incubator Markets have a young (39% Gen Z/millennials), highly skilled workforce (33%) with an average monthly wage nearly half ($2,314) that of Mature markets.
Emerging markets: These are 31 markets with a rising Gen Z/millennial workforce (50% or greater share of total labor pool) but a shortage of skilled talent due to low rates of tertiary education and they require long-term investments.
Emerging markets have half the number (20%) of highly skilled workers as Mature markets (40%) with only 19% of workers aged 25+ having a tertiary education as compared to 39% in Mature markets.
Market intelligence tools such as the Total Workforce Index™(TWI) have become a go-to intelligence source that has proven to be a difference-maker in a company’s ability to execute growth strategies.
Organizations can also conduct customized analyses with the weightings for data adjusted to factors that drive growth uniquely within a specific industry and market(s). The opportunities for customization are extensive.
Download the full report
or visit the TWI website to explore the data and rankings.