World Talent Ranking: European countries top list
The IMD World Talent Ranking scores countries across three factors of Investment & Development, Readiness and Appeal.
A global ranking of 63 countries has found that investing in education at all levels boosts competitiveness by developing and attracting talent. International Institute for Management Development (IMD) is a business education school based in Switzerland. The Institute for Management Development’s (IMD) World Competitiveness Center take a three-pronged approach in measuring talent in economies. The Investment & Development factor measures the resources earmarked to cultivate a homegrown workforce. Read more about the findings-
Switzerland leads the way for the fourth year in a row, Denmark is 2nd and Luxembourg 3rd in the IMD World Talent Ranking 2020.
Brexit’s impact on the UK’s talent competitiveness appears to be reflected in figures. In 2016, the year of the Brexit vote, the UK was in 16th position in the same ranking. This year’s 23rd position is a likely reflection that uncertainties around Brexit have been chipping away at the UK’s talent competitiveness.
Factors
The IMD World Talent Ranking scores countries across three factors of Investment & Development, Readiness and Appeal.
The Appeal factor evaluates the extent to which an economy attracts foreign and retains local talent. And the Readiness factor measures the quality of the skills and competencies that are available in a country’s talent pool.
Top nations
Switzerland balances a high-quality education system that earns top marks for those being channeled into university and for those embarking on apprenticeships. The country is also attractive to foreign labor thanks to the high quality of life and remuneration.
Denmark, at second number, performs well across the board and stands out for the perceived fairness of its society (e.g. justice).
Luxembourg, in third position, has seen a consistent improvement over the past five years, progressing from 11th to 3rd. This is due to a marked improvement in the Investment & Development factor, both relative to other economies but also in absolute terms.
India’s performance slips
Meanwhile India’s ranking in IMD competitive ranking slipped from 59 in 2019 to 62 in 2020. India’s performances in various factors are 63 in Investment and Development, 55 in Appeal, 25 in Readiness and 62 is India’s overall performance.
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