New York City has been rated as the best city for recruiting employees, according to a new study by Aon Hewitt.
The recruitment consultant’s latest People Risk Index ranked the US city as having the lowest risk in the world when it came to recruiting, employing and relocating staff. New York was given a score of 67 based on factors including its educational institutions, training facilities, government regulations and availability of talent.
The rankings’ top ten heavily featured North American locations, with the likes of Toronto, Los Angeles and Boston all featuring. The only city from the Middle East to be included in the top 20 was the Gulf emirate of Dubai, which came in at 19.
"The way businesses now recognize and manage people risk has changed significantly over the last few years," said Richard Payne, talent and rewards practice leader for Aon Hewitt, Asia Pacific. "Driven by a need to do more with less, business leaders have to be more innovative around how they invest; this has had an impact on how they think about talent sourcing and work force planning.”
In terms of the highest-risk cities, the Middle East and Africa dominated. War-torn Damascus rated highest, followed by Sana’a in Yemen, Ethiopia’s Addis Ababa, Baghdad in Iraq, Karachi in Pakistan, and Tripoli in Libya.
Those cities that scored badly in the index did so because of a lack of stable and transparent government, as well as investment in developing infrastructure to improve talent.
"There is a silver lining for these high risk cities - they will continue to experience population growth in the next decade which will increase the size of the labour pool," said Payne. "However, if the education and talent development infrastructure do not improve, these cities will face a surplus of low skilled workers and a shortage of highly educated professional talent."
Despite these drawbacks, businesses are still expressing interest in these high risk locations due to their natural resources and high economic growth potential. "Africa presents many opportunities if employers are able to identify and mitigate the people risk in these cities effectively." Payne added.