Singapore retains the top position in the Asia Pacific region for the fifth consecutive year in the Global Talent Competitiveness Index (GTCI) 2018. India stood 81st in the rankings. Globally, Switzerland took the first rank.
Last year, India was at the 92nd position. Switzerland was the top rank holder last year as well.
Produced in partnership with The Adecco Group and Tata Communications, the GTCI is an annual benchmarking report that measures the ability of 119 countries to compete for talent.
In GTCI 2018, six Asia-Pacific countries rank in the top 30: Singapore is first (and second globally), followed by Australia (11th), New Zealand (12th), Japan (20th), Malaysia (27th) and South Korea (30th).
The report said top-ranking countries share several characteristics, including having educational systems focused on employability, flexible regulatory and business landscapes, employment policies.
Further, the report underlines that diversity is also an investment: people are often ill equipped to collaborate with others who are different from themselves.
Bruno Lanvin, Executive Director of Global Indices at INSEAD and co-editor of the report said, “A concerted call for greater inclusiveness and collaboration from around the world will undoubtedly open up opportunities for demographic groups which have often been side-lined in the past on the talent scene.”
Singapore (2nd globally) continues to occupy the top spot in Asia Pacific and is the leader in the Enable pillar and Attract pillar. Dimensions for which Singapore has room for improvement include Access to Growth Opportunities, Innovation output, and more Social protection for labour.
Vinod Kumar, Chief Executive Officer and Managing Director, Tata Communications said as digital transformation continues to top the agenda for organisations/nations, technology will reshape the world of work as highly automated and immersive technologies work side-by-side with humans.
The report said India (ranked 81st) remains far from the top, even though its performance in formal education and lifelong learning are keeping pace, and its pool of global knowledge skills is solid compared with other emerging markets. It added that the country has plenty of room for improvement in minimising brain drain while boosting brain gain by luring back more of its talented diaspora members.
Globally, European countries continue to dominate the GTCI rankings, with 8 of them in the top 10. Switzerland maintains its number 1 position, followed by Singapore and the United States.
The Global Cities Talent Competitiveness Index (GCTCI), which was introduced last year, has been greatly broadened to cover 90 cities across the world, in comparison to 46 cities in its inaugural edition.