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Global Talent Competitiveness Index

Topics covered: Issues relating to development and management of Social Sector/Services relating to Health, Education, Human Resources.

Global Talent Competitiveness Index

What to study?

For prelims and mains: GTCI- key findings, indicators and significance.

Context: Global Talent Competitive Index (GTCI) for 2020 has been released.

About GTCI:

  • GTCI, launched in 2013, is an annual benchmarking report that measures the ability of countries to compete for talent.
  • It is released by INSEAD business school in partnership with Adecco Group and Google.
  • The report measures levels of Global Talent Competitiveness by looking at 70 variables such as ease of hiring, gender earnings gap, and prevalence of training in firms.

Performance of India:

  1. India is placed at no. 72.
  2. Although more could be done to improve the country’s educational system (68th in Formal Education), India’s key strength relates to growing (44th) talent, due to its levels of lifelong learning (40th) and access to growth opportunities (39th).
  3. The country’s highest-ranked sub-pillar is employability, but the ability to match labour market demand and supply stands in contrast to the country’s poor mid-level skills.

Global performance:

  1. Switzerland, the United States and Singapore lead the index.

Key observations:

  • The gap between talent champions and the rest of the world is widening.
  • A similar gap is also seen in the universe of artificial intelligence. AI talent is scarce and unequally distributed across industries, sectors, and nations.
  • More than half of the population in the developing world lacks basic digital skills.

 What next?

  1. AI policies and programmes should work to minimise negative outcomes and increase access to AI for those left behind.
  2. AI could provide significant opportunities for emerging markets to leapfrog.
  3. Some developing countries (e.g., China, Costa Rica, and Malaysia) can become talent champions in their respective regions, while others (e.g., Ghana and India) have significantly improved their capacity to enable, attract, grow, and retain talent over the past few years, and hence can be labelled talent movers.
  4. The emergence of AI in the workplace requires a massive re-skilling of the workforce. At all levels of qualifications, workers will need training on adaptability, social intelligence, communication, and problem-solving.

Sources: the Hindu.