Hong Kong continues to be the highest-ranked market for contingent workforce operations in 2014, followed closely by the United States, according to ManpowerGroup Solutions' Contingent Workforce Index.
The CWI measures and tracks the relative ease of sourcing, hiring and retaining contingent workforce in 75 jurisdictions. A contingent workforce is a provisional group of workers who work for an organization on a non-permanent basis.
China advanced from 16th place in 2013 to third due to its well-balanced mix of relatively high workforce availability and industry dynamics, despite shifting regulations and wages.
Other significant changes include Australia's fall from fourth place in 2013 to 15th in 2014 as the result of rising manufacturing wages and reduced workforce availability.
"Managing business and workforce strategies globally presents tremendous challenges to business leaders who must align resources and leverage talent holistically," said Kip Wright, ManpowerGroup Solutions senior vice president.
The second annual CWI was refined and enhanced to assure the analysis and results reflect the constantly evolving world of work trends. For example, additional insight into regulations and workforce dynamics, such as "language proficiency" was added.
Moreover, with greater emphasis placed on the size of countries' contingent workforces, countries with large populations or pools of contingent labor rose in the rankings. Consequently, decreased rankings were observed for countries with smaller contingent labor pools or higher costs.