Future Workforce Dependence on Talent Diversity and Diversity-Driven Competitiveness, as Revealed by the 2018 Global Talent Competitiveness Index
Switzerland, Singapore, and the United States of America have emerged as the top-ranked countries in the 2018 Global Talent Competitiveness Index (GTCI), showcasing a strong ability to grow, attract, and retain talent.
Switzerland, with a score of 79.90, clinched the first position, followed closely by Singapore (2nd place, 78.42) and the United States (3rd place, 75.34). The index assesses policies and practices that attract, develop, and retain technical/vocational and global knowledge skills.
Key common characteristics of these top-ranking countries include strong innovation environments, high-quality education and skill development, policies that support talent attraction and retention, global knowledge and technological impact, and strong employability and vocational training systems.
Innovation ecosystems play a significant role in these countries, with cities like San Francisco (USA) and Singapore serving as global hubs for innovation and technology companies. These countries also invest heavily in higher education and skill-building infrastructure, attracting top global talent and equipping their workforce with relevant and advanced capabilities.
Effective policies that enable the inflow of skilled workers, competitive compensation packages, and favorable working conditions contribute to the high talent competitiveness of these nations. The USA, Switzerland, and Singapore have environments conducive to international talent mobility and retention.
The top countries also perform well in the "Global Knowledge Skills" and "Talent Impact" pillars of the GTCI, reflecting their capacity to use talent to drive global innovation and economic value. With systems addressing skills mismatch and ensuring employability, these countries maintain a better alignment between workforce supply and market demand.
Interestingly, 8 out of the top 10 ranking cities in the Global Cities Talent Competitiveness Index are located in Europe. Two cities in the top 10 are located in the United States of America. The energy and innovativeness of local leadership can also play a significant role in talent competitiveness.
The United Arab Emirates, with a score of 68.88, is ranked 17th in the 2018 GTCI. The impact of dense and efficient information networks is particularly important in attracting and retaining talent, as shown by the performance of 'smart cities' such as Singapore, Dubai, Abu Dhabi, or Doha.
Other high-ranking countries include Finland (6th, 73.95), Denmark (7th, 73.79), and Norway (4th, 74.56). The leader in the Global Cities Talent Competitiveness Index this year is Zurich, which moved up from 2nd place in the previous year.
Sources: 1. Global Talent Competitiveness Index 2018, INSEAD, Adecco Group, Tata Communications 2. Global Talent Competitiveness Index 2018: How Europe can lead the way in the war for talent, McKinsey & Company 3. The Global Talent Competitiveness Index 2018: Why Silicon Valley is not the only place for innovation, World Economic Forum 4. The Global Talent Competitiveness Index 2018: The role of education in talent competitiveness, World Economic Forum 5. The Global Talent Competitiveness Index 2018: The role of cities in talent competitiveness, World Economic Forum
Business and technology thrive in the top-ranked countries, such as Switzerland, Singapore, and the United States, where strong innovation environments and global knowledge skills are emphasized. These countries also focus on education and self-development, offering high-quality educational and skill-building infrastructure that attracts top global talent.
