Diversity for competitiveness
Produced by the Adecco Group and the Human Capital Leadership Institute of Singapore, the GTCI provides a resource for decision makers to develop strategies for boosting their talent competitiveness. The annual benchmarking report is published by the World Economic Forum and covers 119 economies.
This year’s fifth edition explores the theme of Diversity for Competitiveness. Research shows that when it comes to innovation and high performance, diverse teams do better than talented individuals—though only if people collaborate with each other. Diversity of views, experiences, expertise, culture and race can all enhance the way organisations and countries work. In addition, diversity can be a national resource for competitiveness and is increasingly being integrated into policies, organisations and educational institutes. In particular, cognitive diversity (diversity of knowledge, experience and perspectives) leads to higher performance and creative innovation on problem-solving and predictive tasks. The report also found a correlation between fostering diverse collaboration and the acceptance of gender diversity.
The Netherlands leads the way in talent competitiveness
Overall, the GTCI uses four measures to determine a country’s ranking: enabling talent through regulations and markets, attracting talent, growing new talent, and retaining existing talent with a high quality of life. Countries that understand the importance of leveraging diversity as a resource and are effectively doing so are leading this year’s index.
The Netherlands ranked 9th internationally in attracting, developing and retaining talent, while Amsterdam ranked 11th in the cities ranking, which should come as no surprise, given the Dutch capital’s incredible access to talent. The Netherlands was identified as the world’s best country overall in growing new talent. Talent diversity has long been heralded as a key ingredient needed to build innovative teams and to equip companies and organisations with the ability to address the needs of markets and operations in multicultural environments.
Education focused on skills needed for employability
The 2018 edition found that the top 10 countries share several common key characteristics as well as one major feature: they all have a well-developed educational system providing the social and collaboration skills needed for employability in today’s labour market. Other characteristics include a flexible regulatory and business landscape, employment policies that combine flexibility and social protection, and external and internal openness.