The Global Talent Competitiveness Index (GTCI) is an annual benchmarking study by the INSEAD Buisness School that measures the ability of a number of countries to compete for top talents. Growing, attracting and retaining talent are the abilities on which the Index is based. It compares more than 90 leading world economies, including the Czech Republic. The report is created in collaboration with Adecco and in partnership with Singapore’s Human Capital Leadership Institute.
What are the key findings of the 2014 edition of the Global Talent Competitiveness Index? The bottom line is clear: Countries able to attract talents have a competitive edge, because talent today is moving faster and more easily around the world. Competitiveness is linked to wealth. Rich countries have the best universities and a better quality of life, therefore they are most likely to attract and retain top talents.
What are the components of national competitiveness?
Attracting talent is viewed in terms of a growing the talent pool. External attraction involves appropriate immigration. Internal attraction is mainly lowering the barriers that make it difficult for members of various underprivileged groups to get into the pool of talents i.e., women and older people. Education, apprenticeships, continuous training and easy access to growth opportunities are the cornerstones of talent growth. Skills are developed through on-the-job experience, however reliable and consolidated measuring of its exact role is yet to be developed.
Retaining talent can be difficult
The more talented the person, the better the global opportunities he or she can find elsewhere. Talent retention is necessary to ensure sustainability and continuous development. Quality of life, the regulatory framework and business landscapes of a country are the basic elements that have impact on the retention of talents who can have interesting opportunities in other countries. Therefore, attracting talent remains difficult for less developed countries.
Read more on the results of the study concerning the Czech Republic in a next article which will be published in the coming days.
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