Lithuania’s record leap in the World Talent Ranking

Date

2019 11 19

Rating
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Lithuania has moved up as much as by 8 positions in the IMD World Talent Ranking 2019. Currently, based on the creation of a suitable environment for qualified workforce, its attraction and maintenance, Lithuania ranks 28th among 63 countries in the world.

‘Both today, and in near future, global economies will increasingly compete on the basis of their ability to nurture, attract and retain talent. It is therefore gratifying that efforts of many Lithuanian government institutions, educational establishments and businesses are increasingly reflected in international rankings. Let’s hope that this will lead to a more rapid pace of change and to addressing the pressing challenges of Lithuania’s economy,’ says Vice-Minister of the Economy and Innovation Marius Skuodis.

The talent rating is made up by the IMD World Competitiveness Centre seeking to assess how staff training is carried out in enterprises of various countries, how top talents are attracted and retained. The rating is made up of 32 different criteria grouped and structured according to three factors: ‘Investment and Development’, ‘Appeal’ and ‘Readiness’. The situation was assessed in 63 countries worldwide.

Switzerland ranks first in 2019 and has maintained a stable first position in the IMD world talent ranking for six consecutive years followed by Denmark as top second and Sweden as the top third in 2019. The top three are followed by Austria, Luxembourg, Norway, Iceland, Finland, the Netherlands and Singapore.

In Lithuania, the ‘Investment and Development’ factor is assessed best. A survey conducted by rating makers shows that, compared to the previous year, this time business representatives were more favourable in assessing education and health systems and paid greater attention to staff training.

For a number of years now, Lithuania has maintained its first position among other countries in terms of female employment. Last year’s data show that the proportion of women in employment was 50.2 %.

In the ranking of 2019, Lithuania improved by 11 positions in the ‘Appeal’ criteria group.

Marius Skuodis welcomes the business survey results stating that a considerable number of companies prefers talent to be attracted, increases efforts to improve motivation and attempts to retain staff.

The biggest positive development is observed in the ‘Readiness’ criteria group; Lithuania has upped by 12 positions.

‘Progress in this criteria group was influenced by the growth of workforce, a better assessed quality of services offered by universities, changing approach to the education of executives and high staff foreign language skills,’ says Vice-Minister Skuodis.

Among the Baltic States, the highest position is taken by Estonia (27) and Lithuania (28). Latvia ranks 34th. The neighbouring Poland is below — 37th. The last countries in the ranking are: India (59), Mexico (60), Brazil (61), Venezuela (62), Mongolia (63).