Australia ranks 12th in talent competitiveness

Australia ranks 12th in the world in terms of global talent competitiveness, according to a global study ranking countries on their ability to grow, attract and retain talent.

The 2019 Global Talent Competitiveness Index (GCTI), jointly conducted by graduate business school Insead, HR solutions company the Adecco Group and global telecommunications operator Tata Communications, found that Australia ranks one spot below New Zealand on the global leaderboards.

While Australia ranks in the top 10 in terms of its ability to attract (8th) and grow (10th) talent, it is lagging behind in terms of the quality of vocational technical skills (21st), cluster development (48th) and labour–employer cooperation (67th).

In terms of growing talent, Australia ranks first in the world in terms of formal education, but only 17th in terms of access to lifelong learning, as well as growth opportunities.

While Australia ranks relatively highly in terms of cultivation of high-level skills (11th), it ranks a mere 33rd in terms of mid-level skills.

Meanwhile, Australia ranks eighth in the world in a subindex for talent impact. This was largely due to Australia's output in terms of scientific journal articles (3rd) and new business density (6th). The market ranked 30th in terms of innovation impact and high-value exports, and 29th in terms of new product entrepreneurial activity.

The top 10 markets for global talent competitiveness were Switzerland, Singapore, the US, Norway, Denmark, Finland, Sweden, the Netherlands, the UK and Luxembourg.

Image credit: ©stock.adobe.com/au/photon_photo

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