Australia ranked 12th for global talent competitiveness, Adecco reveals
The 2019 Global Talent Competitiveness Index (GTCI) has ranked Australia as the 12th most competitive country in the world for global talent. Created by the Adecco Group, Tata Communications and Insead Business School, the report analyses data from 125 countries to understand each markets’ competitiveness via their ability to develop, attract, retain and enable talent.
Australia is ranked 8th for its capacity to attract, driven largely by the nation’s external openness (9th) and 10th for its ability to grow talent, which can be attributed to its world-class education system.
Formal education is shown to be world-leading in Australia, with it taking the global top spot, but conversion of this education into employable skills is revealed as an area for improvement. It ranked 20th in the world for overall talent employability and 16th for both the relevance of its education system to the economy, and the ease at which businesses can find people with the right skills.
This year’s report has a special focus on entrepreneurial talent – exploring how it is being encouraged, nurtured and developed throughout the world. Based on the GTCI, the highest-ranking countries and cities tend to be the most open to this competency.
Overall, Australia’s 12th global ranking places it third for APAC, behind Singapore and New Zealand — placed 2nd and 11th respectively. Only two non-European countries made the top ten global rankings: Singapore and the USA.
The GTCI points out that cities, rather than countries are becoming hubs for entrepreneurialism. The top-ranked city is Washington DC, followed by Copenhagen, Oslo, Vienna and Zurich. Sydney is ranked 26th and Melbourne 30th globally.
Rafael Moyano, CEO of Adecco Australia, commented, “Australia has an excellent foundation for supporting entrepreneurial talent, particularly for the higher levels of education, boasting some of the world’s best universities, and an extremely high uptake of tertiary courses. To move up in the rankings, better alignment between the business and education sectors, along with a greater focus on vocational education is required.”
The GTCI measures levels of Global Talent Competitiveness by looking at 68 variables. The 2019 index covers 125 national economies and 114 cities (respectively 119 and 90 in 2018) across all groups of income and levels of development.
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