The United States ranks third in the world for talent competitiveness, surpassed only by Switzerland and Singapore, according to the 2018 Global Talent Competitiveness Index (GTCI). The report, produced by the Adecco Group , international business school INSEAD and Tata Communications, is a comprehensive annual benchmark that measures how countries and cities grow, attract and retain talent.
The U.S. leads the way in growing its own talent, particularly through formal education, its leading network of universities and access to growth opportunities, according to the report. The country is also competitive in terms of having a large pool of vocational and technical skills, as well as global knowledge skills, which deal with knowledge workers like scientists, engineers and people who innovate and engage in entrepreneurial activities.
“It’s encouraging to see the United States move up to the third position this year after a stint in fourth place from 2014-2017,” said John Marshall, CEO of Adecco Group North America, UK & Ireland, Professional Staffing. “The country is performing exceptionally well in its ability to grow talent, but it must continue to make this a focus in the coming years. As technological advancement persists, organizations need to create more avenues for continuous learning, reskilling and upskilling, or else the American workforce will fall behind.”
See the infographic below for the GTCI’s top 10 countries and cities rankings, and more.
In addition to the talent competitiveness ranking, this year’s report investigates the theme of “diversity for competitiveness,” exploring the benefits of diversity, such as how it can be leveraged for retention, talent development, innovation and sustainability. However, GTCI also reveals that there is no absolute model for diversity and inclusion, with top ranking countries still falling short in key areas. For example, while the U.S. is a world reference for collaboration within and across organizations and industries, the GTCI identified that the country can improve in the areas of tolerance towards minorities and foreign talent, as well as closing gender gaps.
“Companies across the globe are taking steps towards better diversity and inclusion practices, but no one has perfected it yet, as evidenced by the GTCI,” said Federico Vione, CEO of Adecco Group North America, UK & Ireland, Adecco and Pontoon. “Without doubt, diverse teams have the ability to help organizations thrive, trickling into industries, economies and societies as a whole. It is up to today’s leaders to focus on a culture of inclusion that goes far beyond stats and figures, and reaches into the mindset of the workforce.”
Now in its second year, a special section of the report, the Global Cities Talent Competitiveness Index (GCTCI), also ranks 90 cities according to their talent competitiveness. Two U.S. cities ranked in the top 10: Washington, DC (6) and San Francisco (8), follow by Los Angeles (13), Boston (17), Chicago (21) and New York (26).
Download the full GTCI report here.