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Global ranking reveals lower training focus

Adam Zuchetti
Adam Zuchetti
20 November 2018 2 minute readShare
Graduation, cap, graduate, university

A respected global ranking of workplace talent has found Australian employees score strongly for job readiness, but the nation’s overall ranking suffered due to lower investment and development.

The World Talent Ranking 2018, produced by Switzerland-based management school IMD, saw Australia rank 14th out of the 63 countries measured, with an overall score of 78.57. That marked an improvement of five places on 2017.

By contrast, Switzerland topped the ranking with an overall score of 100.00. That was followed by Denmark (91.97), Norway (86.37), Austria (86.10) and The Netherlands (85.25).

Of the English-speaking countries, Canada topped the list at number six with a score of 84.50, with the US two places ahead of Australia in 12th spot (79.22).

New Zealand, meanwhile, fell to 20th place (74.12), immediately followed by Ireland (73.93) and the UK in 23rd (72.63). South Africa came in 50th place (47.14).

Of the three measures used to rank countries, Australia ranked sixth in the world for readiness but 19th for appeal and 26th for investment and development.

“Since 2014, the Talent Ranking assesses how the 63 economies we study develop, attract and retain highly skilled professionals,” explained Arturo Bris, director of the IMD World Competitive Center.

“Cultivating a skilled and educated workforce is crucial to strengthening competitiveness and achieving long-term prosperity, particularly in the current dynamic landscape where artificial intelligence, robotics and other new technologies constantly redefine the challenges that governments, businesses and society in general will have to face in the future.

“This year, the most successful countries in talent competitiveness are mainly European, mid-size economies. Moreover, these countries share high levels of investment in education and quality of life.”

The report noted that: “In the Pacific area, Australia (14th) and New Zealand (20th) confirm their role as talent-appealing hubs. Both countries show high levels of readiness in their talent pool and offer attractive quality of life for international professionals.”

Competitiveness has room to improve, not all bad

Earlier in the year, IMD released its World Competitiveness Ranking, which placed Australia 19th out of the 63 nations measured, in line with many similar countries.

While Australia ranked one place above the UK and three places higher than New Zealand, other similar countries fared much better.

The US topped the list, followed by Hong Kong, Singapore, The Netherlands and Switzerland. Rounding out the top 10 most competitive nations were Denmark, the United Arab Emirates (UAE), Norway, Sweden and Canada.

However, Australia did far better than other advanced economies. For example, Japan ranked 25th, France 28th, Italy 42nd and South Africa 53rd.

The full ranking can be seen below.

2018 competitiveness ranking

1. US
2. Hong Kong SAR
3. Singapore
4. The Netherlands
5. Switzerland
6. Denmark
7. UAE
8. Norway
9. Sweden
10. Canada
11. Luxembourg
12. Ireland
13. China (mainland)
14. Qatar
15. Germany
16. Finland
17. Taiwan
18. Austria
19. Australia
20. UK
21. Israel
22. Malaysia
23. New Zealand
24. Iceland
25. Japan
26. Belgium
27. South Korea
28. France
29. Czech Republic
30. Thailand
31. Estonia
32. Lithuania
33. Portugal
34. Poland
35. Chile
36. Spain
37. Slovenia
38. Kazakhstan
39. Saudi Arabia
40. Latvia
41. Cyprus
42. Italy
43. Indonesia
44. India
45. Russia
46. Turkey
47. Hungary
48. Bulgaria
49. Romania
50. Philippines
51. Mexico
52. Jordan
53. South Africa
54. Peru
55. Slovak Republic
56. Argentina
57. Greece
58. Colombia
59. Ukraine
60. Brazil
61. Croatia
62. Mongolia
63. Venezuela

Source: IMD

Global ranking reveals lower training focus
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Adam Zuchetti
Adam Zuchetti

Adam Zuchetti is the former editor of MyBusiness and a senior freelance media professional, specialising in the fields of business, personal finance and property. In 2020, he also embarked on his own business journey – inspired in part by the entrepreneurs and founders he had met through his journalistic work – with the launch of customised pet gifting and subscription service Paws N’ All.

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