International mobility to increase the competitiveness of countries
For its third edition (2015-2016), the Global talent Competitiveness index (CLG) has revealed on the eve of the World Economic Forum in Davos, the three most attractive countries for innovative workers: these are Switzerland, Singapore and Luxembourg.
This index aims to identify the countries’ ability to attract, develop and retain talent. INSEAD (French management school), Adecco (French Group for HR Solutions) and the Human Capital Leadership Institute (HCLI) have conducted this ranking on 109 countries (representing 84% of the population and 96% of world GDP).
Talent’s attraction and international mobility
This new edition highlights the key role of open country for talent, this, in order to fill skills’ lack.
According to the study, “it is impossible to develop creative talents without encouraging international mobility and the” brain circulation “.”
A country that encourages international mobility will naturally and easily connect to globalized value chains and develop sustainable growth strategies. But it is not enough for a country to attract skills; it still needs to know / be able to attract the “good” talents … The study quotes that “attracting good talents will play a key role in the success of national economies to implement their business strategies.”
Thus, movements of talent and economic prosperity are closely linked!
Focus on the highest ranked countries
Several similarities appear between Switzerland, Singapore and Luxembourg, the three countries leading the ranking GTCI 2015-2016, and among them there are especially important openness to trade, investment, immigration and innovation.
High immigration has indeed fashioned these three countries: in Switzerland and Luxembourg, 25% of the population is foreign-born; and this rate rises to 43% in Singapore! Moreover, in the top of the ranking, there are other “immigration lands”: the United States (4th), Canada (9th), New Zealand (11th) and Australia (15th).
The United States, for their part, have always sought to attract “new ideas.” They are, indisputably, the destination for “migrant inventors”!
In this area, France, who is ranked 22nd, suffers a regulatory framework and a competitive environment that does not foster the development of talent, and this, despite very good performance on professional skills.
The study also highlights several countries it considers being “magnets of talents”: these are countries with strong potential and attractive in terms of skills.
These countries include Indonesia, Chile and South Korea. As for China, the country capitalizes on its former emigrants to boost its potential of talents and seeks to attract them with technical and scientific skills.
The quality of the proposed education, especially higher education, is very important. This is, indeed, a many talents entry point into the country. Today, the number of countries with an education system of international fame remains relatively small, which is a clear advantage to attract the best talent and form them. Are part of these countries: the United States, Canada, Australia, UK, France, Singapore, Switzerland.
Emerging countries are in need of technical skills
Many emerging countries are facing a shortage of technical skills. Many have invested in higher education but have neglected “vocational skills”. Handicapped by the lack of skills, some countries are being penalized and show a slowdown in their ability to attract talent: this is particularly the case in India, China, South Africa and Brazil.
But this phenomenon does not only concern emerging countries, it has now spread to Ireland, Belgium and Spain.
Wong Su-Yen, CEO of Human Capital Leadership Institute (HCLI), sums up the situation in the following quote: “We must be aware that there is no acquired attractiveness of talents, they will always look for the best career development opportunities in other countries.
The challenge, for countries, is to continue to innovate in the way they develop, attract and retain talent. “
Source: LE MOCI