India ranks 51 on IMD Talent Rankings, Climbs 3 Steps

Highlights:

  • According to the World Competitiveness Center in IMD World Talent Rankings 2017, India has improved its ranking by three notches to 51 globally.
  • India ranked 51st among 63 countries on the IMD Talent Rankings in terms of ability to attract, develop and retain talent.
  • India Climbs 3 Steps To 51 On IMD World Talent Rankings; Switzerland No. 1
  • European economies are superior when it comes to attracting, developing and retaining top talent.
  • In IMD World Talent Rankings 2017, India has improved its ranking by three notches to 51 globally in terms of ability to attract, develop and retain talent while Switzerland topped the list.
  • The prestigious annual IMD World Talent Ranking assesses the methods countries use to attract and retain the talent their businesses need to thrive.
  • Europe continues to dominate the 2017 list, with 11 out of the 15 most talent competitive economies based on the continent, after a strong performance in 2016. Switzerland, Denmark and Belgium remain the most competitive countries in the 2017 IMD World Talent Ranking.
  • Austria, Finland, the Netherlands, Norway, Germany, Sweden and Luxembourg make up the top-ten.
  • The study draws on an in-depth survey of thousands of executives from 63 different economies, and more than two decades' data from the IMD World Competitiveness Center.

BRICS countries:

  • In IMD World Talent Rankings 2017, among the BRICS countries, South Africa must increase its investment in developing local talent if it is to deliver the high-quality workforce its businesses need to thrive.
  • Among the BRICS countries, South Africa ranks in the middle position - 48th - performing better than India (51st) and Brazil (52nd) but lagging behind both China (40th) and Russia (43rd).
  • South Africa's strengths are in total expenditure on education (4th), cost-of-living index (1st), personal income tax rate (2nd) and labor force growth (7th).
  • Its main weaknesses are in the pupil-teacher ratio (primary education, 61st), implementation of apprenticeships (61st), availability of skilled labor (60th), capacity of the educational system to meet the talent needs of the economy (60th) and emphasis assigned to science in schools (60th).
  • The top economies in the IMD World Talent Ranking share similar attractiveness indicators. They invest significantly in their outstanding educational systems, they offer a superior quality of life, and they offer substantial opportunities for career advancement throughout the entire professional life span.

What is IMD World Talent Ranking ?
  • The IMD World Talent Ranking is based on countries' performance in three main categories - investment and development, appeal and readiness.
  • The three categories assess how countries perform in a wide range of areas. These include education, apprenticeships, workplace training, language skills, cost of living, quality of life, remuneration and tax rates.
  • It is, according to a statement released by the Rankings, European countries' outstanding education systems that set them apart from the rest of the pack.