GLOBAL TALENT COMPETITIVENESS INDEX

‘Enable’, ‘attract’, ‘grow’, ‘retain’ are the pillars of the annual bench-marking report called Global Talent Competitiveness Index (GTCI). The index is released by INSEAD (Graduate Business School) in partnership with Adecco Group (Human Resource Group) and Google.

GTCI was first launched in 2013. At present, 132 countries and 155 cities are ranked in this Global Talent Competitiveness Index. The India ranks at 72nd position in Global Talent Competitiveness Index 2020. Switzerland tops the index followed by US and Singapore.

Global Talent Competitiveness Index 2020 Facts

  1. Published? -23 January 2020
  2. Where was the GTCI 2020 Report published? Davos, Switzerland
  3. Who released the GTCI Report 2020? INSEAD in partnership with Adecco Group & Google
  4. What is the theme of GTCI Report 2020? Share: Global Talent in the Age of Artificial Intelligence
  5. What is the rank of India in Global Talent Competitive Index 2020? – India ranks 72th
  6. What is BRICS grouping rank in GTCI report 2020?
    1. Brazil – 80th
    2. Russia – 48th
    3. India – 72th
    4. China – 42th
    5. South Africa – 70th
  7. What is the rank of India in global talent Competitive Index 2019? -India ranked 80th.
  8. The INSEAD released the 7th Edition of GTCI in January 2020 under the theme ‘Global Talent in the Age of Artificial Intelligence.’ How the development of Artificial Intelligence (AI) is changing the nature of work and forcing a re-evaluation of workplace practices, corporate structures and innovation ecosystems was the dimension explored by this report.

Global Talent Competitiveness Index 2020 when was the GTCI 2020 Report

Features of Global Talent Competitiveness Index 2020:

  1. The GTCI Report 2020 touched the growing importance of Artificial Intelligence as it has become the heart of the debate in this era of the Fourth Industrial Revolution and has become a game-changer in every industry and sector
  2. The GTCI report covers national and organizational parameters and generates insights to inspire action
  3. It covered 70 variables for this the year 2020
  4. 132 Countries across all groups of income and levels of development are covered in this index
  5. 155 cities are covered 6. GTCI 2020 has compared performances of the countries over two three-year periods: 2015–2017 against 2018–2020 7.

Input-Output model is used to conclude this index; is composed of 6 pillars:

GTCI

GTCI
GTCI

Highlights of Global Talent Competitiveness Index 2020:

  • The Report mentioned that the gap between almost all high-income countries (which it called Talent Champions) and the rest of the world is widening
  • GTCI 2020 mentioned a proactive, cooperative approach to turning AI into a force for good To introduce Artificial Intelligence to organisations, communities, or societies as a whole;
  • The report suggested acceptability as a condition for sustainability The report reflected hope towards emerging countries to leapfrog through opportunities offered by AI The emergence of AI in the workplace requires a massive re-skilling of the workforce Cities are striving to become AI hubs and attract relevant talents.
  • India has climbed eight places to 72nd rank in the 2020. In the BRICS grouping, China was ranked 42nd, Russia (48th), South Africa (70th) and Brazil at 80th position.
  • Switzerland topped the index followed by United States and Singapore.
  • The pecking order underlines the domination of high-income countries – the top 25 in the list are all high-income countries, 17 of them from Europe.

India’s position in Global Talent Competitiveness

  • Index Year India’s Rank in GTCI 2020- 72th
  • India’s biggest challenge is to attract talent and retain them in the country India’s Vocational and Technical Skill score is 76 while secured 113th place in the Mid-Level Skills list
  • 2019- 80 and 2018- 81

Key Points

  • It was started in 2013 and is an annual benchmarking report that measures the ability of countries to compete for talent, their ability to grow, attract and retain talent.
  • Theme for 2020 was ‘Global Talent in the Age of Artificial Intelligence’. It explores how the development of artificial intelligence (AI) is not only changing the nature of work but also forcing a re-evaluation of workplace practices, corporate structures and innovation ecosystems.
  • Inequality: The report noted that the gap between high income, talent-rich nations and the rest of the world is widening. More than half of the population in the developing world lack basic digital skills.
  • About GTCI Report: It is launched by INSEAD, a partner and sponsor of the United Nation’s Sustainable Development Goals (SDGs) Davos, Switzerland recently.
  • INSEAD is one of the world’s leading and largest graduate business schools with locations all over the world and alliances with top institutions.
  • The six metrics used to decide a country’s rank are – enable, attract, grow, retain, vocational skills and global knowledge skills.

India

The report stated that India’s GTCI score and GDP per capita are both lower than the other emerging market economies such as BRICS – Brazil (80th), Russia (48th), China (42nd), and South Africa (70th).

India’s key strength relates to growing talent, due to its levels of lifelong learning and access to growth. However, more could be done to improve India’s educational system.

Conclusion:

The country’s highest-ranked sub-pillar is employability but the ability to match labour market demand and supply stands in contrast to the country’s poor “mid-level skills”, which result in a mediocre score in vocational and technical skills.

India faces the challenge of attracting and retaining talent and the weak ability to overcome it. India has to strengthen the role of minorities and women to raise the level of internal openness in the country which would make it more appealing.

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