The 2018 Global Talent Competitiveness Index (GTCI) report found that Switzerland still leads the way in terms of talent competitiveness, followed by Singapore and the United States.
Singapore also ranks as the most talent-competitive nation in the Asia Pacific region. Japan is the only other Asian country in the top 25, coming in at 20th place.
In general, European countries continue to dominate the GTCI rankings, with 15 in the top 25.
The index assesses the policies and practices that enable a country to attract, develop and retain both technical and global knowledge skills associated with innovation, entrepreneurship and leadership – qualities which contribute to productivity.
This year’s edition revealed that the top ten countries share one major feature: they all have a well-developed educational system providing the social and collaboration skills needed for employability in today’s labour market.
Additionally, there are several other characteristics in common between the top-ranking countries:
- A flexible regulatory and business landscape
- Employment policies which combine flexibility and social protection
- External and internal openness
“Singapore, along with Switzerland, remains at the at the top for similar reasons: both of them balance attention to factors that retain talent, especially having open economies,” said INSEAD Professor Paul Evans, co-editor of 2018 GTCI report.
“Both of them pay attention to having a flexible labour force, which includes lifelong learning programs (Skillsfuture in Singapore).”
In addition to the talent competitiveness ranking, this year’s report investigated the theme of ‘Diversity for competitiveness’. Three types of diversity were distinguished: cognitive, identity and preference (or value).
Paying attention to demographic diversity nurtures a sustainable and innovative future and helps organisations to retain and develop talent.
However, the report highlights that there is a cost to diversity: people are often ill equipped to collaborate with others who are different from themselves.
The report is published by INSEAD in partnership with the Adecco Group and Tata Communications.
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