Singapore Ranked Second in Global Talent Competitiveness Index
Singapore ranked second in the Global Talent Competitiveness Index 2014 Report and is the only Asian country in the top 10 list. The island country placed second after Switzerland and beat bigger countries like the United States, Australia, United Kingdom and Canada.
INSEAD’s Gloval Talent Competitiveness Index Report is an annual target study that studies the correlation between the dimension of human capital and competitiveness. The study is composed of 103 countries and also studies a group’s talents, growth and global skills.
The index report is based on a study conducted by Human Capital Leadership Institute of Singapore (HCLI) in partnership with the directors, professors and executives from INSEAD.
This study brings the growth of talent and abilities into perspective- an essential tool in the discussion of different workplace and global challenges and problems.
Moreover, the study ranks each country based on the quality of talents it can produce, retain and attract.
Here are some of the factors that affect talent competitiveness:
Openness. One factor that greatly affects talent competitiveness is a country’s openness to investment, trade, and new ideas. A country that produces talented individuals fully embraces positive globalization.
Internal or external talent growth and development. Countries have different ways of providing talented individuals. Some countries prefer home-grown talents that were trained internally while some countries like China, attract and entice foreign talents to the country or send excellent talents abroad for better education and training.
Education. Unlike past ways of learning, countries must adapt to novel and unique ways of developing their talents’ skills and capabilities.