India has ranked 56th on the International Institute for Management Development (IMD) 2021 World Talent Ranking, which evaluates the ability of the economies in developing, attracting and retaining talent. The IMD World Talent Ranking 2021 shows the overall ranking for 64 economies.
In the Peer Group Ranking – Asia – Pacific, India have ranked 12th.
- Switzerland tops the ranking followed by Sweden in 2nd and Luxembourg in 3rd.
- The ranking is published by the IMD World Competitiveness Center.
About IMD World Talent Ranking:
The IMD World Talent Ranking assesses the status and the development of competencies necessary for enterprises and economies to achieve long-term value creation.
The World Talent Ranking defines Talent Competitiveness into 3 main factors:
- Investment and Development factor: Measures the resources earmarked to cultivate a homegrown workforce.
- Appeal factor: Evaluate the extent to which an economy attracts foreign and retains local talent.
- Readiness factor: Measures the quality of the skills and competencies that are available in a country’s talent pool.
Top 5 on IMD World Talent Competitiveness Ranking 2021:
India’s Factor ranking 2021:
India has ranked 64th on the Investment & Development factor, 57th on the Appeal factor and 27th on the Readiness factor.
CHALLENGES IN 2021
According to the National Productivity Council, New Delhi, the challenges faced by India in 2021 are,
- Minimizing the negative impact of COVID-19 on society and the economy.
- Ensuring speedy vaccination of the entire population.
- Addressing poverty and gainful employment.
- Balancing fiscal deficit, economic growth and employment generation.
- Resource mobilization for infrastructure development.
i.The IMD’s World Talent Ranking 2021 has identified that the motivation of the people to work during the pandemic has proven crucial for economic success.
ii.The results of 2021 highlight the challenges and solutions around job creation and re-employment in which much hype surrounds the Great Resignation phenomenon, by which workers in the United States are increasingly unwilling to accept jobs, at least at pre-COVID wages.
Recent Related News:
In the World Competitiveness Index 2021 released by the Institute for Management Development’s (IMD) World Competitiveness Center, India retained its 43rd rank out of 64 nations (for the 3rd consecutive year). Switzerland topped the Index followed by Sweden in the 2nd spot & Denmark in the 3rd spot.
About International Institute for Management Development (IMD):
President- Jean-François Manzoni
Location- Lausanne, Switzerland