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The best Southeast Asian economy for talent
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SINGAPORE has supplanted Malaysia as the Southeast Asian economy best equipped to develop, attract and retain talent, a major new study has revealed.
The latest World Talent Report from leading global business school IMD places Singapore 10th in a ranking of countries’ ability to meet corporate needs.
By contrast, Malaysia, which took fifth position last year, has fallen out of the top 10 after suffering a decline in a number of relevant performance indicators.
The report represents an annual assessment of how effectively nations are able to nurture and sustain talent for the businesses operating within their economies.
Professor Arturo Bris, Director of IMD’s World Competitiveness Center, which carried out the study, said: “The key attribute among all the countries that rank highly is agility.
“This is shown in their capacity to adopt and shape policies that preserve their talent pipeline, which in turn makes them what we describe as ‘talent-competitive’.
The rankings are based on 20 years’ worth of competitiveness-related data including an in-depth survey of over 4,000 executives in the 61 countries covered by the study.
The research focuses on three main categories – investment/development, appeal and readiness – which in turn are derived from a much broader range of factors.
These include education, apprenticeship, employee training, brain-drain, cost of living, worker motivation, quality of life, language skills, remuneration and tax rates.
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