In a globalised world, a country's human capital is a key factor in its competitiveness. Most countries around the world not only want to grow and attract talent, but also to retain it. This is the idea developed by the INSEAD business school in establishing its annual report on countries' talent competitiveness (GTCI*).
The Grand Duchy knows how to attract and keep talent
The INSEAD, Adecco and the Human Capital Leadership Institute use 6 sub-categories and 65 indicators to compare the performances of 118 countries worldwide. After concentrating on attracting talent and international mobility in its last report, the theme for this year focuses on technology. The study attempts to explore further the ways in which technological change has been affecting talent competitiveness as well as - more broadly- the nature of work.
The top place in the 2017 Global Talent Competitiveness Index is occupied by Switzerland, followed by Singapore and the United Kingdom. The Grand Duchy ranks 7th in the world, with excellent results in two of the six sub-categories: the power to attract talent (2nd place in the world) and the power to retain talent (3rd place in the world). It should nevertheless be noted that the Grand Duchy still needs to make an effort in terms of labour market flexibility and education.
Generally, the Grand Duchy's performances are better than the average for developed countries with high incomes. In comparison, the Netherlands rank 11th, Belgium 16th, Germany 17th, and France 24th in the 2017 Index.
*The GTCI (Global Talent Competitiveness Index) is a global index that aims to help the governments of the various countries, businesses and individuals identify the ability of each to attract, grow and retain talent.
(Article written by the editorial team of the portal luxembourg.lu - Source: press release from the Observatory for Competitiveness)