Strong education, skills, and innovation propel Singapore ahead of the US
Singapore has climbed to the second spot in the Global Talent Competitiveness Index, behind Switzerland and ahead of the United States, reflecting its exceptional ability to attract, develop, and retain talent. This annual index, compiled by Insead and the Portulans Institute, evaluates 134 countries on various talent-related criteria.
Key Strengths and Achievements
Singapore ranked in the top three globally for four of the six measured criteria: enabling, attracting, growing, and retaining talent. It received high praise for:
Enabling talent through a robust regulatory framework.
Attracting specialists in advanced fields like bio-nanotechnologies.
Growing talent via a high-quality education system.
Vocational and technical skills, a standout area aiding its workforce’s adaptability to market demands.
In the Global Talent Competitiveness Index for Cities, Singapore ranked seventh, maintaining its position as Asia’s top city for talent despite dropping from third place last year.
Challenges in Retention
However, the study highlighted Singapore’s difficulty in retaining international talent, attributed to concerns over sustainability and lifestyle. While its robust infrastructure and education system have drawn top-tier talent, keeping them for extended periods remains an area for improvement.
Dr Bruno Lanvin, co-editor of the index, noted that Singapore’s advances in vocational enrolment and increased tertiary education spending have bolstered its talent ecosystem. However, its reliance on international talent for high-tech jobs underscores the importance of addressing workforce retention issues.
Broader Trends in Talent Competition
The report discussed how the Covid-19 pandemic disrupted global talent landscapes, widening disparities between talent-competitive nations and others, particularly in regions like Africa. It also noted how digital connectivity played a crucial role in maintaining economic activity during lockdowns, with countries like Singapore reaping benefits from advanced IT infrastructure.
The competition for skilled workers is expected to intensify in the post-pandemic recovery, with inequalities growing between industries and workers based on their ability to adapt to digital or remote work settings.
A Forward-Looking Vision
Singapore’s Green Plan 2030 and progress in digital trade and green economy partnerships were highlighted as steps toward a sustainable future. Alongside Switzerland’s leadership in sustainable finance, Singapore exemplifies how forward-thinking policies can build resilient economies.
Despite challenges, Singapore continues to strengthen its position as a global leader in talent competitiveness, shaping its future with an innovative and sustainable vision.
