Singapore — March 25
For the second year, New York City is the lowest-risk city in the world for recruiting, employing and relocating employees, according to rankings released by Aon Hewitt, the global human resources business of Aon PLC.
New York retained its title as the world’s lowest-risk city in large part because of its educational institutions, training facilities and large pool of qualified and experienced talent. New York’s demographic risk is also the second lowest due to its large working-age population and high workforce productivity.
Aon Hewitt’s 2013 “People Risk Index” measures the risks that organizations face with recruitment, employment and relocation in 138 cities worldwide by analyzing factors as demographics, access to education, talent development, employment practices and government regulations.
According to the index, New York, Singapore, Toronto, London and Montreal retained their ranks as the top five lowest-risk cities in the world. Conversely, Luanda, Angola; Port Moresby, Papua New Guinea; Addis Ababa, Ethiopia; Sana’a, Yemen; and Damascus, Syria, represent the highest-risk locations of the 138 cities for employers.
The index showed minimal differences from the 2012 rankings among the top five cities. Singapore remains the only city outside of Europe and North America that is ranked among the top five, while Hong Kong is among those ranked as the 10 lowest risk cities.
Of note, two European cities moved up the ranks to be among the top 10 in 2013 — Copenhagen and Zurich. This can be attributed to the many pro-business employment policies in these two cities, their open-door policy toward talent and continued focus on developing and improving the education and talent development infrastructures, according to the index.
Furthermore, the increased risk in the euro zone cities exacerbated by the ongoing debt crisis has reduced the relative risk in European cities outside of the euro zone.
The top 10 highest-risk cities to employers were: Luanda, Angola; Port Moresby, Papua New Guinea; Lagos, Nigeria; Dhaka, Bangladesh; Tripoli, Libya; Karachi, Pakistan; Baghdad, Iraq; Addis Ababa, Ethiopia; Sana’a, Yemen; and Damascus, Syria.
The lack of a stable and transparent government continues to be an obstacle to implement and enforce business-friendly employment practices in these cities, according to the index. Moreover, the lack of government investment in developing and improving the education and talent development infrastructure increases employers’ risk in finding skilled talent.
Source: Aon plc