According to the recent report launched by INSEAD in association with Adecco and Tata Communications, Singapore tops the list of 2019 Global Talent Competitiveness Index (GTCI).
The report GTCI is an annual benchmarking report that measures the ability of 125 countries to compete for talent. In its sixth year, the edition of the GTCI addresses the topic of Entrepreneurial Talent and Global Competitiveness and attempts to identify the ways in which large and small firms, nations, and cities can foster entrepreneurial talent in the era of digital transformation.
The 2019 Global Talent Competitiveness Index (GTCI) sees six Asia-Pacific countries ranking in the top quartile, and Seoul becoming the first Asian city to break into the top ten ranking.
In six Asia-Pacific countries rank in the top 30 includes Singapore, leading in the region (2nd globally), followed by New Zealand (11th), Australia (12th), Japan (22nd), Malaysia (27th) and South Korea (30th).
The key insights from the report also highlight:
Economy megatrends influencing the world of work
- Volatile trading conditions make agility imperative
- Uncertain future created by geopolitical climate
- Complex technology trends demand skills and investment
- Ambiguous expectations lead to underperformance
New approaches are needed to simulate entrepreneurial and intrapreneurial growth
- Different new tactics at every step
- More holistic course of action
- Talent strategy which reflects a firm’s lifecycle
- Culture where learning is championed
Cities will play increasingly central roles as entrepreneurial talent hubs
- The critical role already played by cities to set up incubators and accelerators will become more relevant
- Specialized talent will emerge
- Smart cities strategies will place a greater emphasis on entrepreneurial talent
- Cities must foster an atmosphere of innovation and ideas that encourage entrepreneurs
GTCI talent champion commonalities
- Talent growth and management is a central priority
- Openness to entrepreneurial talent
- Open socio-economic policies
- Strong and vibrant ecosystems around innovation