In 2013, Insead, the Singaporean Human Capital Leadership Institute and Adecco launched a new measurement exercise for nations on their ability to attract and nurture talent.
The exercise has identified those countries that have vibrant and sustainable economies thanks to their systemic capacity to develop talent and attract foreign talented individuals. These countries are mainly Nordic European and rich countries, Singapore and the United States. A strong correlation between talent competitiveness and innovation performance was one of the extremely interesting highlights of the exercise.
On the other hand, those countries that are not in the top league are low-income countries confronting a wide array of challenges, from skills shortages to high joblessness. Poorer countries may also face the risk of brain drain and difficulties to keep the skilled workers they have developed and attracted.
The Global Talent Competitiveness Index – GTCI – is based on a number of variables that measures the skills ‘crop’ available including vocational and technical skills, but also the so called ‘global knowledge skills’. These are skills, which Insead had termed as global knowledge economy skills, which provide the capacity to innovate, manage change and multi-cultural virtual teams.
The Index also measures the countries’ abilities to enable, attract, grow and retain talent to foster this output of skills ‘crop’.
The forerunning countries and city states are those who are managing to build and sustain a knowledge-based society with either strong educational traditions at the basis or appealing immigration policies and strong policies that attract inwardly talent.
The wide gaps in performance are evident in the global knowledge skills – the high scorers reach the top bar because of sophisticated ecosystems of educational actors nurturing innovation.
Best practices that have been identified in terms of Talent Policy include thriving apprenticeship programmes, and a continuous professional development system where workers blend practice and experience with learning on a continuous basis. Emerging countries are playing hard at competition and offering skills propositions that out-win what other neighbouring countries offer and develop the talent that is highly in demand.
The authors of the Report recommend the forging of alliances and partnerships to deliver more cross-border mobility of talent, improved access to education for women and other marginalised social groups, and revitalised apprenticeship programmes.
Read the full report here: Global Talent Competitiveness Index
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