Where is the world’s top talent hub?
Being ranked as the world’s top talent hub is a huge accolade. But sadly Singapore has missed out on this honour. Instead, top spot in the IMD World Talent Ranking 2019 goes to Switzerland.
In fact, Europe leads the way in fostering the best conditions for competitiveness in a skills-scarce global economy. Denmark took second spot with Sweden third. The Top 10 was completed by Austria (4th), Luxembourg (5th), Norway (6th), Iceland (7th), Finland (8th), the Netherlands (9th) with Singapore in 10th.
Interestingly, the top ranked talent hubs are dominated by small and mid-sized European countries. These economies all share strong levels of investment in education and a high quality of life.
According to IMD (International Institute for Management Development), Switzerland leads the world in the ‘appeal’ factor and in areas such as apprenticeships, health infrastructure, remuneration, attracting highly-skilled foreign workers, along with university and management education.
Singapore, as the only non-European nation in the top ten, scores highest globally for talent ‘readiness’. The US, the world’s biggest economy, ranked 12th.
“Most leading economies emphasize long-term talent development by focusing on investment and development. This emphasis, however, goes beyond purely academic aspects to encompass the effective implementation of apprenticeships and employee training,” said Professor Arturo Bris, Director of the IMD World Competitiveness Center.
The ranking evaluates the ability of 63 economies in developing, attracting and retaining talent.