Singapore has been ranked second-best in the world in its ability to compete for talent for the fourth year in a row.
It also emerged first in Asia-Pacific, ahead of Australia, which came in 6th globally, and was the only other Asian country that made the top 10 of the Global Talent Competitiveness Index compiled by business school Insead.
As in previous years, Switzerland took the top spot in GTCI 2017. The United Kingdom and the United States placed third and four respectively. Notably, four Nordic countries made the top 10 – they are Sweden, Denmark, Finland and Norway.
The GTCI measures how countries grow, attract and retain talent, providing a resource for decision makers to develop strategies for boosting their talent competitiveness. The theme of this fourth edition of the GTCI is Talent and Technology: Shaping the Future of Work.
The 2017 report explores the effects of technological change on talent competitiveness, arguing that while jobs at all levels continue to be replaced by machines, technology is also creating new opportunities.
However, people and organisations will need to adapt to a working environment in which technology know-how, people skills, flexibility and collaboration are key to success, and in which horizontal networks are replacing hierarchies as the new leadership norm.
Governments and business players need to work together to build educational systems and labour market policies that are fit for purpose.
High ranking countries share key traits, including educational systems that meet the needs of the economy, employment policies that favour flexibility, mobility and entrepreneurship, and high connectedness of stakeholders in business and government.
Produced in partnership with The Adecco Group and the Human Capital Leadership Institute of Singapore (HCLI), the GTCI is an annual benchmarking report that measures the ability of countries to compete for talent.
Global Talent Competitiveness Index 2017 Rankings: Top 10
- United Kingdom
- United States