The Philippines has moved up to the 48th spot in the Institute for Management Development (IMD) World Talent Ranking for the year 2020.
The IMD World Talent Ranking 2020 results indicate that the country improved on its 2019 rank at 49th when it surged up 6 places.
The 7th edition of the IMD ranking discusses the quality and readiness of countries’ workforce for the post-COVID 19 economic recoveries.
The Philippines was scored across three factors of Investment & Development, Readiness, and Appeal:
- 61st out of 63 countries ranked in the Investment & Development factor that measures the resources earmarked to cultivate a homegrown workforce
- 31st in the Appeal factor that evaluates the extent to which an economy attracts foreign and retains local talent
- 33rd in the Readiness factor that measures the quality of the skills and competencies that are available in a country’s talent pool
“The country’s most significant improvement is in labor force growth, where it now holds the third rank overall. These results in the context of a difficult talent economy, allowed the country to improve its ranking in comparison with other countries that presented a lower performance compared to last year. The Philippines will need to leverage its comparative advantages in order to continue their increasing competitiveness for talent,” IMD explained.
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