Total Workforce Index 2020 has identified the top five markets globally for cost efficiency: the Philippines, Croatia, Morocco, Vietnam and Thailand. Photo ManpowerGroup

The annual TWI report combined Big Data with expert analysis to identify the workforce  engagement potential of 76 markets.

New Zealand, Hong Kong, Singapore, Japan and the Republic of Korea were ranked as the top markets in the Asia-Pacific region, according to the report. Singapore and Hong Kong ranked highly for workforce productivity.

The TWI also identified the top five markets globally for cost efficiency: the Philippines, Croatia, Morocco, Vietnam and Thailand. These markets are driven by favourable country dynamics, such as cost of labour and regulations.

The average Vietnamese monthly wage was 321 USD a month in 2020, up by 32.6 percent compared to the year earlier, while the regional average was 1,835 USD a month.

In an increasingly complex global market, access to skilled talent is a top priority for organisations looking to build or grow their business.

For this year’s analysis, ManpowerGroup  Talent Solutions took a deeper look at talent availability, comparing the percentage of remote-ready workforces in different markets and exploring the availability of cybersecurity resources.

IT skills, particularly those that support remote work such as cybersecurity, continue to be in demand, along with an ongoing need for medical, operations and logistics skills and roles that are deemed essential./.VNS

Salary increases in 2020 lowest in 10 years: survey

Salaries increased by 6.5% this year at multinational companies (MNCs) and 5.2% at Vietnamese companies, and are forecast to increase by 7 per cent and 7.7% next year, according to the Talentnet – Mercer Total Remuneration Survey.