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New York is the lowest risk city in the world for recruiting, employing and relocating employees, according to rankings published today by HR business Aon Hewitt. The city retained its title for the second time in a row, mainly because of top educational institutions, training facilities and its pool of qualified and experienced staff.
The People Risk Index, which measures risks companies face with recruitment, employment and relocation across the globe, also found that Singapore, Toronto, London and Montreal were among the lowest risk cities in the world.
At the bottom end were Luanda in Angola, Port Moresby in Papua New Guinea, Addis Ababa in Ethiopia, Sana'a in Yemen and Damascus in Syria. The lack of a stable and transparent government and an absence of investments were mainly to blame for the poor results. High-risk cities are expected to produce a surplus of low skilled workers and a shortage of highly educated professional talent in the future, Aon Hewitt said.
“The way businesses now recognize and manage people risk has changed significantly over the last few years,” said Richard Payne from Aon Hewitt in 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.”
Singapore was the only city outside Europe and North America that is ranked among the top five, with Hong Kong still found in the top 10 lowest risk cities. Two European cities, Copenhagen and Zurich, moved up the ranks and are now included in the top 10 because of their pro-business employment policies.
“Pro-business employment policies have a significant impact on people risk,” said Mr Payne. “Where government policies support a more flexible approach to talent immigration, employment practices and the provision of social welfare, these cities are able to attract and retain a talent supply critical for businesses.”