In a global survey conducted by IMD Business School Switzerland which compiles inputs from more than 6,000 executives in 63 different countries has released its list of rankings of the country on the global talent Index. While India has got the 53rd position, Switzerland continues to top the list.
In 2017, India was ranked at 51st position. Switzerland has continued to be at the top spot, with no Asian country or even the US in the top 10. While Switzerland retained its top position for the fifth consecutive year on the list, Denmark, Norway, Austria and the Netherlands were ranked second, third, fourth and fifth, respectively, in the survey titled as ‘IMD World Talent Ranking 2018’.
The rankings are based on three key factors — investment, appeal and readiness. The categories analyses a nation’s capabilities in areas like workplace training, education, and language skills. The indicators also include investment by the countries in nurturing local talents and how well it attracts and retains talent. The survey compiles inputs from more than 6,000 executives in 63 different countries.
In Asia, Singapore got the top spot while being at 13th position globally, in the list of 63 nations in developing, attracting and retaining talent.
China, on the other hand, is ranked at 39th in the survey, possibly because of the difficulties it is facing in “attracting foreign skilled workers paired with a level of public expenditure in education that is below the average of other advanced economies”, the report showed.
Canada was the only non-European country in the top ten. On the other hand, among BRICS nations, Brazil was ranked 58th, while South Africa and Russia came at 50 and 46, respectively.
“Economies placed in the top-10 of the ranking generally share high levels of investments in public education and a high quality of life, which allow them both to develop local human capital and to attract highly-skilled professionals from abroad,” said Arturo Bris, director of the IMD World Competitiveness Center, IMD Business School, adding that “South East Asian economies, on average, perform well in tapping into the international talent pool, but they tend to lag behind in terms of public investments for the development of home grown talent”.
The IMD said it used “hard data and responses to the IMD Executive Opinion Survey” to produce the ranking.