2020 Global Talent Competitiveness Index Released - China is Ranked 42, Moves up 3 Places
Report finds that 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
Switzerland tops this year's ranking,followed by the United States,its highest place yet,and Singapore inthirdplace
AI talent is particularly scarce and unequally distributed across industries,sectors and nations
Broad-based re-skilling is urgently needed to develop 'fusion skills' that enable humans and machines to effectively and efficiently interact in hybrid activities
The Adecco Group commits to reskill and upskill five million people around the world by 2030,led by General Assembly,the Group's skilling arm and global leader in future-skills education
DAVOS,Switzerland,Jan. 23,2020 -- A lack of digital skills is widening the gap between high-income nations and the rest of the world,according to research from the Adecco Group,the world's leading HR solutions company,in partnership with INSEAD and Google.
The Global Talent Competitiveness Index (GTCI) 2020,released at the World Economic Forum in Davos,reveals that Switzerland continues to lead the world in talent competitiveness,having held the number one spot since the Index was launched in 2013,and the US moves from third place to second,pushing Singapore down one place compared to 2019.
China is ranked 42 out of a sample of 132 countries (moves up 3 places from 45 last year). China's performances in the various pillars of the GTCI are quite checkered. On the one hand,China finds itself in the top quartile in two pillars - Grow (22nd) and Global Knowledge Skills (29th) - mainly as a result of its world-class educational system (8th in Formal Education) and its standing as a global power in innovation (15th in Talent Impact). On the other hand,it ranks in the second quartile when it comes to attracting (87th) talent and Vocational and Technical Skills (73rd),where higher levels of both External Openness (83rd) and Internal Openness (89th) would improve the former pillar and greater Mid-Level Skills would do much to strengthen the latter pillar.
2020 Top 20 rankings- countries
In its seventh edition,Switzerland continues to lead the 2020 Global Talent Competitiveness Index,while the United States and Singapore come in second and third respectively,having swapped rankingscompared to last year.
The top three is followed bySweden (4th),Denmark (5th),Netherlands (6th) and Finland (7th).
Yemenhas finished at the bottom of this year's index at 132ndas they had in 2019,just belowCongo (130th) and Angola (131st).
As withprevious years,higher rankings are associatedwith higher income economies.
Policies and practices that bring about talent competitiveness in developed nations are less susceptible to political and socioeconomicinstability.
Higher income countrieshave the steady infrastructure to invest in the likes of lifelong learning,re-/upskillingand attracting and retaining global talent.
COUNTRY
SCORE
OVERALL RANK(2020)
PREVIOUS RANK (2019)
MOVEMENT
Switzerland
81.26
1
1
United States
79.09
2
3
+1
Singapore
78.48
3
2
-1
Sweden
75.82
4
7
+3
Denmark
75.18
5
5
Netherlands
74.99
6
8
+2
Finland
74.47
7
6
-1
Luxembourg
73.94
8
10
+2
Norway
72.91
9
4
-5
Australia
72.53
10
12
+2
Germany
72.34
11
14
+3
United Kingdom
72.27
12
9
-3
Canada
71.26
13
15
+2
Iceland
70.90
14
13
-1
Ireland
70.45
15
16
+1
New Zealand
69.84
16
11
-5
Austria
68.87
17
18
+1
Belgium
68.87
18
17
-1
Japan
66.06
19
22
+3
Israel
65.66
20
20
2020 Top 10 Ranking- cities
The leading cities are those that perform well across the five pillars of the talent spectrum. Thecity in first place- New York- is demonstrative of this,being a top 10 city across four of the fivecategories.Cities continue to act astest labs for new AI-based tools such as facial recognition,tele-surveillance and autonomous vehicles. The success of these technologiesvaryfrom one city to another,results that are worth watching closely before such tools can be sustainably deployed on a larger scale,longer term.
CITY
SCORE
OVERALL RANK(2020)
PREVIOUS RANK (2019)
MOVEMENT
New York
73.7
1
8
+7
London
71.7
2
14
+12
Singapore
71.4
3
17
+14
San Francisco
68.1
4
12
+8
Boston
66.8
5
6
+1
Hong Kong
66.4
6
27
+21
Paris
65.7
7
9
+2
Tokyo
65.7
8
19
+11
Los Angeles
62.8
9
22
+13
Munich
61.9
10
20
+10
Overall,high income countries dominate the top 25 and the index shows that these top 'talent champions' are accelerating further away from the rest of the world. This divide is being intensified by the rise of Artificial Intelligence (AI) and the associated digital skills gap that has emerged between industries,sectors and nations.
Acknowledging this skills mismatch and the importance of investing in human capital,the Adecco Group is committing to upskill and reskill 5 million people by 2030. The reskilling push will be led by the Group's training and development arm,General Assembly,which specializes in equipping individuals and teams with today's most in-demand digital skills includingdata science,coding and machine learning capabilities.
Commenting on the 2020 Index, the Adecco Group's Chief Executive Officer,Alain Dehaze said:
"As machines and algorithms continue to affect a multiplicity of tasks and responsibilities and almost every job gets reinvented,having the right talent has never been more critical.
Today,robots and algorithms have travelled beyond the factory floor and are functioning at front of house,the back office and company headquarters. At all levels,workers need training to hone quintessential "human skills" - adaptability,social intelligence,communication,problem solving and leadership - that will complement technology.
This decade will be characterized by a re-skilling revolution with a focus on 'fusion skills' - enabling humans and machines to work in harmony in a hybrid model. With this in mind,the Adecco Group is committing to upskill and reskill five million people around the world by 2030 – equipping individuals with future skills that will enable them to thrive in the AI age."
The theme of this year's GTCI report focuses on global talent in the age of AI.Notably,the report finds that more than half of the population in the developing world lack basic digital skills,and that the digital skills gap is only widening,with a few countries progressing quickly while mostof the developing worldlags behind.
Newapproaches are being tried and testedto find the optimum balance,where people and technology can successfully work side by sideand thrive in the workplace of the future. As these new collaborations continue to be developed,global talent competitiveness is being redefined,with nationsstriving to position themselves asleaders of the AIrevolution.While the digital skills gap is significant and continuing to expand,thereport's analysis found thatAIcould provide significant opportunities for emerging markets to "leapfrog".
For example,the longitudinal analysesof talent competitiveness reveal that some developing countries such as China,Costa Rica and Malaysiapossessthe potential to become"talent champions"in their respective regions.Meanwhile,other countries like Ghana and India have improved their capacity to enable,attract,grow and retain talent in recent years,earningthem status as"talent movers".
Looking at cities,New York tops the ranking this year,followed by London,Singapore,San Francisco and Boston. New York's leading position can be attributed to its strong performance across four of the five pillars measured in the research,specifically in the "Enable","Attract","Grow" and "Global Knowledge Skills" categories.
Generally,cities with a proven ability for"future readiness"ranked highly,with activities in fields including AI,fintech andmedtech,favouring the talent performance ofthe topfive.Many cities are increasingly becoming testbeds for new AI based tools such as facial recognition,tele-surveillance and autonomous vehicles. The success of these vary across cities,but those that do well will emerge as AI hubs that have the talent pools to sustainably deploy global solutions.
About the 2020 Global Talent Competitiveness Index (GTCI)
In its 7th edition,the Global Talent Competitiveness Index (GTCI) is an annual benchmarking tool ranking countries and major cities on their ability to develop,attract and retain talent. Developed in 2013 by INSEAD in partnership with the Adecco Group,the report provides a tool for governments,cities,businesses and not-for-profit organisations to help design their talent strategies,overcome talent mismatches and be competitive in the global marketplace. GTCI covers national and organisational parameters and generates insights to inspire action. This year's index includes 70 variables and covers 132 countries and 155 cities,across all groups of income and levels of development. The GTCI is a composite index,relying on a robust,action-focused Input-Output model,for policymakers and business leaders to learn from and respond to.
The 2020 edition addresses the theme of Global Talent in the Age of Artificial Intelligence. The report aims to explore 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. As machines and algorithms continue to affect a multiplicity of tasks and responsibilities and almost every job gets reinvented,the right talent is required not only to carry out new responsibilities and ways to work,but also to capture value from this transformative technology. This topic stands at the heart of the debate in this era of the Fourth Industrial Revolution as AI has become a game-changer in every industry and sector. Current education and skills acquisition will be transformed as well,implying that formal and informal learning structures will evolve to meet the needs created by this very same AI-driven world.
For more information:
2020 GTCI website
Full 2020 GTCI report
2020 GTCI executive summary
GTCI 2020 highlights infographic
About the Adecco Group
The Adecco Group is the world's leading HR solutions company. We believe in making the future work for everyone,and every day enable more than 3.5 million careers. We skill,develop,transform and hire talent in 60 countries,enabling organizations to embrace the future of work. As a Fortune Global 500 company,we lead by example,creating shared value that fuels economies and builds better societies. Our culture of inclusivity,entrepreneurship and teamwork empowers our 34,000 employees,who voted us number 11 on the Great Place to Work® - World's Best Workplaces 2019 list. The Adecco Group AG is headquartered in Zurich,Switzerland and listed on the SIX Swiss Exchange (ADEN). The group is powered by ten global lead brands: Adecco,Adia,Badenoch & Clark,Lee Hecht Harrison,Modis,Pontoon,Spring Professional, Vettery and YOSS.
About INSEAD,The Business School for the World
As one of the world's leading and largest graduate business schools,INSEAD brings together people,cultures and ideas to develop responsible leaders who transform business and society. Our research,teaching and partnerships reflect this global perspective and cultural diversity.
With campuses inEurope(France),Asia(Singapore) and theMiddle East(Abu Dhabi),INSEAD's business education and research spans three continents. Our 165 renownedFacultymembers from 41 countries inspire more than1,300 degreeparticipants annually inourMBA,Global Executive MBA,SpecialisedMaster's degrees (Executive Master in FinanceandExecutive Master in Change) andPhDprogrammes. In addition,more than 11,000 executives participate in INSEADExecutive Educationprogrammeseach year.
INSEAD continues to conduct cutting-edge research and innovate across all ourprogrammes. We provide business leaders with the knowledge and awareness to operate anywhere. Our core values drive academic excellence and serve the global community as The Business School for the World.
About GoogleInc
Google is a global technology leader focused on improving the ways people connect with information. Google's innovations in web search and advertising have made its website a top Internet property and its brand one of the most recognized in the world. Google is a trademark of Google Inc. All other company and product names may be trademarks of the respective companies with which they are associated.
About FESCO Adecco
FESCO Adecco is a joint-venture human resources services company combining the strengths of FESCO Group (a China 500 Company) and the Adecco Group (a fortune Global 500 Company) at the end of 2010 in Shanghai. FESCO Adecco provides Corporate Outsourcing,Payroll Service & Dispatch,Recruitment,Employee Welfare and related HR solutions on a daily basis for more than 2,000,000 associates and more than 20,000 clients across China. FESCO Adecco is based in Shanghai with regional branches in Zhejiang,Chongqing,Shenzhen,Suzhou and Shaanxi.
