The IMD World Talent Ranking 2020 results
The IMD World Talent Ranking scores countries across three factors of Investment & Development, Readiness and Appeal.
Switzerland leads the way for the fourth year in a row, Denmark is 2nd and Luxembourg 3rd in the IMD World Talent Ranking 2020.
Brexit’s impact on the UK’s talent competitiveness appears to be reflected in figures. In 2016, the year of the Brexit vote, the UK was in 16th position in the same ranking. This year’s 23rd position is a likely reflection that uncertainties around Brexit have been chipping away at the UK’s talent competitiveness.
Switzerland balances a high-quality education system that earns top marks for those being channeled into university (#1) and for those embarking on apprenticeships (#1). The country is also attractive to foreign labor thanks to the high quality of life (#3) and remuneration (#1).
Denmark, in 2nd, performs well across the board and stands out for the perceived fairness of its society (e.g. justice #1).
Luxembourg, in 3rd, has seen a consistent improvement over the past five years, progressing from 11th to 3rd. This is due to a marked improvement in the Investment & Development factor, both relative to other economies but also in absolute terms.
The Institute for Management Development’s World Competitiveness Center take a three-pronged approach in measuring talent in economies. The Investment & Development factor measures the resources earmarked to cultivate a homegrown workforce. The Appeal factor evaluates the extent to which an economy attracts foreign and retains local talent. And the Readiness factor measures the quality of the skills and competencies that are available in a country’s talent pool.