2020 About the Institute for Management Development (IMD) IMD WORLD IMD is an independent academic institution with Swiss roots and global reach, founded almost 75 years ago by business leaders for business leaders. Since its creation, IMD has been a pioneering force in developing TALENT leaders who transform organizations and contribute to society. RANKING 2020 Based in Lausanne (Switzerland) and Singapore, IMD has been ranked in the Top 3 of the FT’s annual Executive Education Global Ranking for the last nine consecutive years and in the top five for 17 consecutive years. Our MBA and EMBA programs have repeatedly been singled out among the best in Europe and the world. We believe that this consistency at the forefront of our industry is grounded in IMD’s unique approach to creating “Real Learning. Real Impact”. Led by an expert and diverse faculty, we strive to be the trusted learning partner of choice for ambitious individuals and organizations worldwide. Challenging what is and inspiring what could be. www.imd.org IMD WORLD TALENT RANKING TALENT IMD WORLD IMD, IMD INTERNATIONAL, REAL LEARNING. REAL IMPACT, IMD BUSINESS SCHOOL and IMD WORLD COMPETITIVENESS YEARBOOK are trademarks of IMD- International Institute for Management Development November 2020 IMD WORLD TALENT RANKING 2020 Copyright © 2020 IMD: Institute for Management Development 23, Ch. de Bellerive P.O. Box 915 CH-1001 Lausanne Switzerland Tel : +41 21 618 02 51 e-mail : [email protected] Internet: www.imd.org/wcc Choose the product Visit our eShop that meets your needs www.wcceshop.org All rights reserved. No part of this publication may be transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system. Nor may any part of this publication be included as a reference in any other work without authorization. IMD, IMD INTERNATIONAL, REAL LEARNING. REAL IMPACT, IMD BUSINESS SCHOOL and IMD WORLD COMPETITIVENESS YEARBOOK are trademarks of IMD – International Institute for Management Development Preface How do different economies invest and develop their local talent? How do countries appeal to the international talent pool as well as retaining their own high-skilled work force? And how do economies measure the quality of the skills and competences that are available? These are the questions that the IMD World Talent Ranking addresses. We are delighted to present the seventh edition of this publication. The latest ranking suggests that most economies that perform well focus their talent development efforts in every stage of the educational process. From primary education to tertiary, to apprenticeships and continuous work training, enhancing the skills and competencies of the work force is important. The top performing economies are open to both people and ideas. Finally, in the difficult times of social distancing and working from home, keeping the employees motivated contributes to the talent competitiveness of an economy. An undertaking like the IMD World Talent Ranking could not have been accomplished without the support and assistance of many stakeholders. Our Partner Institutes, the IMD Alumni community and our Panel of Experts from all the countries generously offer data and insights that are crucial for completing such a project. We are always most grateful for their support. Yet, as we stressed in all our publications, this year, our stakeholders managed to make us feel that it was business as usual and not a uniquely complicated and difficult environment. The reason you have this publication in your hands now is, for a great part, because of our stakeholders. We are humbled and thankful! Professor Arturo Bris Dr Christos Cabolis Director Chief Economist & Head of Operations IMD World Competitiveness Center IMD World Competitiveness Center IMD WORLD TALENT RANKING 2020 3 Table of Contents The IMD World Talent Ranking 2020 Preface................................................................................................................................................................ 3 Table of contents ................................................................................................................................................. 4 The IMD World Competitiveness Center ............................................................................................................. 7 Partner Institutes ................................................................................................................................................. 8 Trends in the World Talent Ranking 2020 ...................................................................................................... 14 IMD World Talent Ranking 2020 ..................................................................................................................... 23 Methodology in a Nutshell ................................................................................................................................. 26 What is the IMD World Talent Ranking? ........................................................................................................... 27 IMD World Talent Rankings selected breakdowns ....................................................................................... 28 Populations greater than 20 million ......................................................................................................... 28 Populations less than 20 million .............................................................................................................. 29 GDP per capita greater than $20,000 ..................................................................................................... 30 GDP per capita less than $20,000 .......................................................................................................... 31 Europe - Middle East - Africa................................................................................................................... 32 Asia - Pacific............................................................................................................................................ 33 The Americas .......................................................................................................................................... 33 Factor 1: Investment and development .................................................................................................. 34 Factor 2: Appeal ...................................................................................................................................... 35 Factor 3: Readiness ................................................................................................................................ 36 Factor rankings........................................................................................................................................ 38 Talent country profiles .................................................................................................................................... 41 The IMD World Talent Ranking methodology .................................................................................................. 106 Notes and sources by criteria .......................................................................................................................... 110 4 IMD WORLD TALENT RANKING 2020 World Talent Country Profiles Argentina ........................................................ 42 Lithuania ......................................................... 74 Australia.......................................................... 43 Luxembourg.................................................... 75 Austria ............................................................ 44 Malaysia ......................................................... 76 Belgium........................................................... 45 Mexico ............................................................ 77 Brazil............................................................... 46 Mongolia ......................................................... 78 Bulgaria .......................................................... 47 Netherlands .................................................... 79 Canada ........................................................... 48 New Zealand .................................................. 80 Chile ............................................................... 49 Norway ........................................................... 81 China .............................................................. 50 Peru ................................................................ 82 Colombia ........................................................ 51 Philippines ...................................................... 83 Croatia ............................................................ 52 Poland ............................................................ 84 Cyprus ............................................................ 53 Portugal .......................................................... 85 Czech Republic .............................................. 54 Qatar............................................................... 86 Denmark ......................................................... 55 Romania ......................................................... 87 Estonia............................................................ 56 Russia............................................................. 88 Finland ...........................................................