Staffing Industry Analysts (SIA) has issued its 2016 report on the Most Complex Contingent Markets Globally. Sixty different staffing markets were assessed across six continents in SIA's most detailed analysis of market complexity to date. The findings cover both emerging and established staffing markets, and complexity is identified according to 11 different criteria.
This year's report found Venezuela to be the most complex market, followed by Egypt and with Italy ranking third in complexity. Heavy regulation on temporary work, low VMS/MSP maturity, labor market inefficiencies and political instability were among contributing factors to Venezuela's high level of complexity. India was the most complex of the Asian markets, with Indonesia following.
The United Kingdom ranked as the least complex contingent market, followed by Australia and the United States as joint second in the rankings. English-speaking markets are less complex overall and scored favorably across most criteria, deeming them easier places in general for employers to develop a contingent workforce.
"This report provides a framework by which to understand the relative ease of deploying or extending a contingent workforce program," said Barry Asin, President of SIA. "Complexity should not be interpreted as lack of feasibility. It simply suggests additional considerations may need to be taken into account when choosing to extend activities in a particular geography or region. Conversely, those markets that are the least complex still require extensive market knowledge, along with strategic and cultural alignment as part of a successful approach to contingent work."
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Argentina, Bulgaria, Estonia and Kuwait and Malaysia were all less complex compared to findings for 2015. Markets that have become more complex in the past year include Egypt, Latvia, Lithuania, Sweden and Turkey. Algeria, Israel, Slovakia, Slovenia and Venezuela were additional countries included in the assessment for the first time this year.
The full report is available for SIA's CWS Council Members, along with the excel-based Market Complexity Assessment Tool (MACAT). The MACAT allows users to conduct their own evaluations by weighting the indicators which are most relevant to their business activities and specific risk profile/appetite.