Market Intelligence Reports

2022 Total Workforce Index Report

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TOTAL WORKFORCE INDEX TM | 2 When the COVID-19 pandemic emerged in 2020, companies responded quickly to manage travel restrictions and rapidly deploy remote, offshore and nearshore talent. In the two years since, decisions have been shaped by far-reaching challenges, including rising demand, inflation and wage pressure, low unemployment, changing demographics and geopolitical upheaval – most notably Russia's war with Ukraine. Today's labor markets are also characterized by intense competition for talent. In ManpowerGroup's 2022 Talent Shortage Survey, 75% of companies globally reported talent shortages and difficulty hiring – a 16-year high. The Total Workforce Index TM is designed to help organizations navigate these challenges by providing insights into the availability, costs, productivity and regulatory environments of workforces in over 60 countries. Now in its ninth year, we routinely refine our models to adapt to our clients' changing needs. In 2022, we strengthened our focus on remote work capabilities based on increased acceptance and continued demand among employers looking to access workers without the investment in infrastructure. New regulations are also having an impact, such as in the Netherlands where employers will soon be required to justify any denials of remote work requests. Other changes in 2022 include the addition of cost of living, wage growth and emerging/younger workforce considerations while scaling back weightings related to border limitations and slowing migration patterns as countries have adjusted to the pandemic. We also reduced the weighting of policies related to night and weekend work, which become less relevant as the prevalence of remote work increases. As short-term necessities have transitioned into longer-term investment priorities, companies are now looking for new markets to meet their business objectives while differentiating themselves and advancing their employer value propositions. It is not enough to choose the optimal location. In the competition for in-demand talent, employers must work to become employers of choice regardless of where they are located. Organizations looking to separate from the pack are turning to the Total Workforce Index TM to help them navigate change in real time. The Total Workforce Index TM has become a go-to predictive resource to inform critical business decision-making. In unpredictable times, the Total Workforce Index TM enables companies to proactively and creatively compete for much-needed talent. Introduction

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