GLOBAL AND MOBILE: TALENT RESHAPES THE WORLD ECONOMY
SWITZERLAND AND SINGAPORE SHOWING THE WAY
INSEAD's Global Talent Competitiveness Index shows that
there are many ways to compete for talent
Fontainebleau (France), Singapore, Abu Dhabi, November 26, 2013 - The first
edition of the Global Talent Competitiveness Index (GTCI) was launched today
by INSEAD, based on research in partnership with the Human Capital Leadership
Institute of Singapore (HCLI) and Adecco. The Index, which measures a nation's
competitiveness based on the quality of talent it can produce, attract and
retain, placed Switzerland at the top of the ranking, followed by Singapore
and Denmark in second and third place respectively.
The purpose of the GTCI is to provide a neutral, global and respected index
that would enable private and public players to assess the effectiveness of
talent-related policies and practices, identify priorities for action in
relevant areas and inform international and local debates in the talent arena.
The GTCI model covers 103 countries, representing 86.3% of the world's
population and 96.7% of the world's GDP.
"There is a widespread mismatch between what companies need in terms of skills
and what local labour markets can offer. Educational institutions are under
pressure to supply the employable skills that the new global knowledge economy
demands. Obviously, these issues require a collaborative effort among
government, business, organised labour and global business schools such as
INSEAD. While the approach may not be uniform across various economic
environments, the provision of fact-based quantitative indicators such as the
GTCI can help identify options and facilitate action." commented Ilian Mihov,
Dean of INSEAD.
The GTCI framework considers how each country scores against six pillars -
Enablers, Attract, Grow, Retain, Labour and Vocational Skills (LV) and Global
Knowledge Skills (GK) - populated by 48 variables. This allows a broad
combination of data measuring how a country grows, attracts and retains
talent, going from government policy and quality of education to
sustainability or lifestyle for example.
Bruno Lanvin, Executive Director for Global Indices at INSEAD, and co-author
of the report stressed that "Talent attractiveness is becoming the true
currency by which countries, regions and cities compete with each other. Youth
unemployment has become a core issue in all types of countries, rich or poor,
industrialised or emerging: over 50% of people younger than 25 are unemployed
in Southern Europe, while more than 50% of the population of many African
countries is less than 18 years of age. The mere confrontation of these two
figures gives an idea of the tensions, flows, and challenges that lie ahead."
European countries dominate the 2013 rankings
The GTCI ranking is heavily dominated by European countries. The top ten
include only two non-European countries, namely Singapore (2) and the United
States (9). Within Europe, it is mostly the northern part of the continent
that appears as most 'talent competitive'. The top-ranked nations all have
many aspects in common, including a long-standing commitment to quality
education (UK, Switzerland, Finland, Sweden), history of immigration (US,
Australia) and a clear strategy to grow and attract the best and brightest
Top Ten 2013 Rankings and Scores - Global
1 Switzerland 6 Netherlands
2 Singapore 7 UK
3 Denmark 8 Finland
4 Sweden 9 US
5 Luxembourg 10 Iceland
First-placed Switzerland excelled in almost all variables, its least
convincing performance being on the Attract pillar (18). It also ranked first
on both LV and GK pillars. Denmark outdid its Nordic neighbours by excelling
in variables such as voicing concern to officials paired with high government
effectiveness. Additionally, Denmark has better labour market flexibility and
social protection than its neighbours in Northern Europe, which allowed it to
achieve third place in the ranking.
Paul Evans, The Shell Chaired Professor of Human Resources and Organisational
Development, Emeritus, at INSEAD, and co-editor of the report noted, "There
are differences among the 103 countries covered by this first edition of the
GTCI: rich countries need more global knowledge skills to foster innovation
and a job-rich recovery; developing countries still need the labour and
vocational skills required to build infrastructure, health and education
systems. But all of them have to build better environments to grow, attract
and retain the skills and talents they need."
A tool to learn and grow
"Nations, particularly those looking to enhance their talent capabilities,
cannot take just one variable and concentrate on improving that particular
field," states Kwan Chee Wei, CEO of the Human Capital Leadership Institute
(HCLI). "Rather, they should take a holistic approach to establish a talent
eco-system of government, business and education to address the multifaceted
challenges of employability."
For employers and policy-makers alike, the results provide a timely insight
into the global pools of talent and what drives competitiveness in this area.
For governments, adopting the right talent policies can be critically
important to attracting the global companies that can contribute to job
creation, train local employees and spur further development.
Patrick De Maeseneire, CEO of Adecco Group, said, "Talent has become the key
resource of our global economy. The talent champions foster and develop
locally available talent by making their labour markets more flexible, by
investing in lifelong learning and by promoting geographical mobility.
Governments and companies need to work closer together to build labour markets
where education systems create the right skills to match employers' needs."
The GTCI model and rankings rely on a variety of reliable international
sources including the United Nations Educational, Scientific and Cultural
Organization (UNESCO), the World Bank, and the World Intellectual Property
Organization (WIPO). Furthermore, the GTCI model has passed the test of a
rigorous audit by the Joint Research Centre (JRC) of the European Commission.
For more information on the Global Talent Competitiveness Index, please visit:
Follow twitter: #GTCIndex for updates.
YouTube Video: http://bit.ly/GTCIndex
About INSEAD, The Business School for the World
As one of the world's leading and largest graduate business schools, INSEAD
brings together people, cultures and ideas to change lives and to transform
organisations. A global perspective and cultural diversity are reflected in
all aspects of our research and teaching.
With campuses in Europe (France), Asia (Singapore) and Abu Dhabi, INSEAD's
business education and research spans three continents. Our 146 renowned
Faculty members from 34 countries inspire more than 1,300 degree participants
annually in our MBA, Executive MBA, specialised master's degrees (Master in
Finance, Executive Master in Consulting and Coaching for Change) and PhD
programmes. In addition, more than 12,000 executives participate in INSEAD's
executive education programmes each year.
In addition to INSEAD's programmes on our three campuses, INSEAD participates
in academic partnerships with the Wharton School of the University of
Pennsylvania (Philadelphia & San Francisco); the Kellogg School of Management
at Northwestern University near Chicago, and Johns Hopkins University/SAIS in
Washington DC. In Asia, INSEAD partners with Tsinghua University in Beijing
and with CEIBS. INSEAD is a founding member in the multidisciplinary Sorbonne
University created in 2012, and also partners with Fundação Dom Cabral in
INSEAD became a pioneer of international business education with the
graduation of the first MBA class on the Fontainebleau campus in Europe in
1960. In 2000, INSEAD opened its Asia campus in Singapore. And in 2007 the
school began an association in the Middle East, officially opening the Abu
Dhabi campus in 2010.
Around the world and over the decades, INSEAD continues to conduct cutting
edge research and to innovate across all our programmes to provide business
leaders with the knowledge and sensitivity to operate anywhere. These core
values have enabled us to become truly "The Business School for the World."
More information about INSEAD can be found at http://www.insead.edu
About Human Capital Leadership Institute
Human Capital Leadership Institute (HCLI) seeks to help organisations
accelerate human capital and leadership development in Asia. We do this by
driving Pan-Asian research, creating cutting edge executive development
programmes and fostering rich networks between leaders in business,
government, academia and consulting.
HCLI is a strategic alliance between the Singapore Ministry of Manpower (MOM),
Singapore Economic Development Board (EDB) and Singapore Management University
For more information, please visit www.hcli.org
About the Adecco Group
The Adecco Group, based in Zurich, Switzerland, is the world's leading
provider of HR solutions. With over 31,000 FTE employees and around 5,100
branches, in over 60 countries and territories around the world, Adecco Group
offers a wide variety of services, connecting more than 650,000 associates
with over 100,000 clients every day. The services offered fall into the broad
categories of temporary staffing, permanent placement, career transition and
talent development, as well as outsourcing and consulting. The Adecco Group is
a Fortune Global 500 company.
Adecco S.A. is registered in Switzerland (ISIN: CH0012138605) and listed on
the SIX Swiss Exchange (ADEN).
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