Topic of the Day – Global Talent Competitiveness Index

UPSC Exam Preparation: Topic of the Day – Global Talent Competitiveness Index

INSEAD along with Tata communication and Adecco group released the fifth edition of the Global Talent Competitiveness Index. It was first launched in the year 2013. It is an yearly benchmarking report measuring and ranking 119 nations and 90 cities on the basis of their ability to grow, attract and retain the talent.

  • The theme for the fifth edition of GTCI is “Diversity for Competitiveness”.
  • The assessment is based on the “Input – Output method” assessing the countries’ efforts in producing and acquiring talent (considered the inputs) and the skills that would be at their disposal as a result of the production and acquisition of talent (output).
  • It lays emphasis on the fact that talent alone is not enough to stay competitive in the current dynamic, ambiguous, uncertain and volatile business environment and hence diversity in talent is the key for competitiveness and for driving growth.
  • Diversity could be defined as a combination of people with varied perspectives, problem solving abilities, knowledge sets, personalities etc. The report publishing GTCI classifies diversity into three types
  1. Cognitive Diversity: This form of diversity leads to innovation and outstanding performance. It is the diversity of perspective, experience, knowledge and way of dealing with problems and overcoming them.
  2. Identity Diversity: It is the diversity of demographic categorisation like age, nationality, sexual preference, religious beliefs, ethnicity and gender.
  3. Preference Diversity: This form of diversity refers to differences in values and fundamental interests existing in nations, cities, organisations and individuals.
  • The high income and developed European countries dominate the list. Switzerland has the highest ranking followed by Singapore and United States.
  • Zurich of Switzerland, Stockholm of Sweden and Oslo of Norway occupy the top three positions in the GTCI for cities.

 

India’s position in GTCI:

  • Though the ranking of India has increased form 92 to 81, it is the worst performing country among the BRICS nations.
  • The score of India in the fields of formal education, lifelong learning and knowledge skills is average.
  • The report signals serious risks of worsening situations of Brain Drain from India as it lacks ability in attracting talented diaspora and retaining its own talent.

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