Global Talent Competitiveness Index (GTCI) 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.
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 including data science, coding and machine learning capabilities.
- Themefor 2020 was ‘Global Talent in the Age of Artificial Intelligence’. It explores 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.
- Inequality:The report noted that the 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.
- About GTCI Report:It is launched by INSEAD, a partner and sponsor of the United Nation’s Sustainable Development Goals (SDGs) Davos, Switzerland recently.
- INSEAD is one of the world’s leading and largest graduate business schools with locations all over the world and alliances with top institutions.
- The six metrics used to decide a country’s rank are – enable, attract, grow, retain, vocational skills and global knowledge skills.
India
- The report stated that India’s GTCI scoreand GDP per capita are both lower than the other emerging market economies such as BRICS – Brazil (80th), Russia (48th), China (42nd), and South Africa (70th).
- India’s key strengthrelates to growing talent, due to its levels of lifelong learning and access to growth. However, more could be done to improve India’s educational system.
- The country’s highest-ranked sub-pillar is employabilitybut the ability to match labour market demand and supply stands in contrast to the country’s poor “mid-level skills”, which result in a mediocre score in vocational and technical skills.
- India faces the challengeof attracting and retaining talent and the weak ability to overcome it. India has to strengthen the role of minorities and women to raise the level of internal openness in the country which would make it more appealing.