Vietnam leaves a lot to be desired when it comes to treatment of talent, a report shows.
According to the latest edition of the Global Talent Competitiveness Index (GTCI), Vietnam only ranks 87th out of 119 countries on talent competitiveness, meaning that the country has a lot to do to improve its ability to grow, attract and retain talented workers.
The GTCI report came out as part of the World Economic Forum organized by graduate school Insead. Vietnam received a score of 35.55, which is slightly higher than the average of countries with low-middle income (32.92).
To come up with the final scores, the study took into account four “pillar” groups and several subcategories, according to Jakarta Globe. The pillars include: “Enable” (a country’s government regulations and market policies), “Attract” (a country’s capability to bring in resources), “Grow” (a country’s capability to develop existing talent through education and training) and “Retain” (a country’s ability to keep domestic and overseas talent).
Vietnam tends to fall into the 60th to 90th range for many sections, with the exception of the “reading, maths and science” subcategory – where it comes in 19th – under the “Grow” pillar. Overall, the Southeast Asian country performed the best in the “Enable,” where its political stability, business landscape and ease of hiring are valued by workers.
Some of our ASEAN neighbors performed well, such as Singapore (2nd) and Malaysia (27th). Cambodia, Indonesia, the Philippines and Thailand are ranked 108th, 77th, 54th and 70th, respectively.
Screenshot via the Global Talent Competitiveness Index website.
Apart from the country ranking, the GTCI also looked into how attractive some metropolises around the world are to talent. In this list, Singapore drops to 33rd while Zurich is the most desirable city in the world in talent attraction. The only Vietnamese city that was assessed is Hanoi, which ranks 85th.
Launched in 2013, the GTCI uses data from many public archives to provide policymakers with insights and analysis to fine-tune their talent strategies.
It pulls statistics from the United Nations Educational, Scientific and Cultural Organization (UNESCO) for quantitative data; the World Bank's World Governance Indicators and Doing Business Report for composite indicator data; and the World Economic Forum's Executive Opinion for survey data.
[Photo via Vietnam Finance]
