PH drops ten spots in the Global Talent Competitiveness Index
The Philippines fell ten spots in the Global Talent Competitiveness Index 2022 report created by the business school Institut Européen d’Administration des Affaires (INSEAD).
Posting a lower index score of 38.06 this year, the Philippines is now at the 80th spot out of 133 nations on the list.
Among 13 East and Southeast Asian countries on the index, the Philippines had the fourth-lowest score, just ahead of Indonesia (82nd spot), Laos (99th), and Cambodia (103rd).
The Global Talent Competitiveness Index looks at how countries and cities grow, attract and retain talent. Countries are scored based on their ability to enable, attract, develop and retain talent and their vocational, technical, and global knowledge skills.
INSEAD Senior Affiliate Professor of Strategy Felipe Monteiro said countries are now facing economic and geopolitical crises as they continue to recover from the coronavirus pandemic.
“This will likely elevate the level of inequalities on the global talent scene and hinder the progress in achieving key sustainable development goals (SDG) targets,” he added.
To counter this, Monteiro noted that countries should undertake immediate action to reduce talent inequalities that the pandemic and current crises have aggravated.
Meanwhile, Department of Trade and Industry (DTI) Undersecretary Rafaelita M. Aldaba said the country’s lower ranking reflects the quality of its educational system, particularly the quality of education at universities.
The undersecretary added that the nation could retain talent by providing more job opportunities through increased investments.
