The Philippines Moves Up in Global Talent List of 2020
The Institute for Management Development (IMD) has released this year's edition of the World Talent Ranking. The ranking scores countries using three factors: investment and development, readiness, and appeal.
The investment and development factor looks at the resources a country has allotted to cultivate a homegrown workforce, while the readiness factor assesses the skills, experience, and more available in each country. The appeal factor, on the other hand, evaluates different economies' ability to attract foreign and local talent.
Switzerland led the IMD World Talent Ranking for the fourth consecutive year. According to the authors, "The country is also attractive to foreign labor thanks to the high quality of life and remuneration." While Denmark and Luxembourg followed at the second and third spots.
Evidently, European countries made up 80 percent of the top 10 for their top-notch educational system, fairness and equality, and more. Check out the 10 countries that topped the global talent list below.
The Philippines climbed to the 48th spot, one spot up from last year's edition, as it improved overall including in the cost of living index, as well as growth in labor force, skilled labor, and science graduates.
In the previous year's edition, the Philippines climbed six places to become the third most improved workforce in the world.
"Most economies that perform well focus their talent development efforts in every stage of the educational process," said professor Arturo Bris and Dr. Christos Cabolis of Switzerland's Institute for Management Development.
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