According to a study by Aon Consulting, a global risk management firm, Toronto is the least risky city in the world to recruit, employ and relocate employees. The study measured the risk involved to organizations in 90 cities worldwide by analyzing demographics, education, employment practices and government regulations.
“Montreal and Toronto are among the five lowest risk cities primarily due to Canada’s low level of corruption; strict enforcement of equal opportunity laws; health and retirement benefits; and high quality and broad availability of training facilities. The main difference between the two is due to Toronto’s larger population as well as quality and broader availability of training resources,” said the report.
Rounding out the top 10 were New York in second place, Singapore and London tied at third place with Montreal in fifth. Zurich and Stockholm tied for sixth, Copenhagen and Amsterdam shared eighth place and Los Angeles was 10th.
Rick Payne, Aon’s Chief Research Officer, said that a significant factor influencing the report is government support. “Cities were low risk typically have a government that is transparent, non-confrontational, and deal with employment issues fairly. Employers in these cities are less likely to be surprised by changes in government policies on employment, healthcare and retirement. Therefore, they have fewer issues finding and retaining educated and experienced talent.”
Payne went on to say that the report indicated that not even the top cities are perfect. “The talent pool in Toronto and Montreal is small compared to New York or Los Angeles, which increases the risk of recruiting for certain types of jobs such as highly specialised financial jobs and design/visual arts jobs. Additionally, in Singapore the inflow of foreign talent helps to increase its talent pool despite its small population, low birth rate and aging workforce.”
The top 10
2. New York
10. Los Angeles
The bottom 5
90. Dhaka, Bangladesh
89. Phnom Penh, Cambodia
88. Lagos, Nigeria
87. Karachi, Pakistan
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