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Singapore still the best in Asia-Pac for global talent competitiveness: Insead
SINGAPORE has remained top in the Asia-Pacific for the third consecutive year for global talent competitiveness, according to an annual study.
The Global Talent Competitiveness Index (GTCI) 2015-16 was published by Insead, together with the Adecco Group and the Human Capital Leadership Institute of Singapore (HCLI).
Globally, the top three countries ranked on talent competitiveness remain the same as in 2014, with Switzerland coming out tops, followed by Singapore and then Luxembourg.
The top three countries in Asia Pacific - Singapore, New Zealand and Australia - have all shown openness in their economies to attract talent, the study showed. In Singapore, nearly 43 per cent of its population was born overseas.
Ilian Mihov, dean of Insead, said: "This year's theme of international mobility and talent attraction is of high relevance to Asia Pacific. Asian countries are historically seen as talent exporters; however, this year's report highlights the increasing trend of talent relocating to this part of the world, including a key finding that jobs are moving to where talent is, such as China, South Korea, Philippines and Vietnam."
However, the report also suggested that Singapore could do better in terms of tolerance to migrants, empowerment of employees, and increasing the pool of vocationally trained people.
Wong Su-Yen, chief executive of HCLI, added: "Singapore's attractiveness as a talent hub has in recent years faced strong competition from its neighbouring countries, and that is likely to intensify. The country, which has seen a 33 per cent increase in the number of its citizens working and living abroad, signals that policymakers can increase efforts to attract them back, as this group of talent would offer a distinct and important combination of overseas work experience and strong local knowledge."