Wed, Nov 21, 2018 - Page 12 News List

Taiwan slips in global talent ranking

By Crystal Hsu  /  Staff reporter

Taiwan placed 27th in a global talent ranking this year, dropping four notches from last year, as it failed to gain headway in stopping brain drain or attracting foreign skilled personnel, the International Institute for Management Development said in a report released yesterday.

The annual ranking assesses the quality of the talent pool available in 63 economies by comparing their investment and development, appeal and readiness scores.

Taiwan dropped from No. 23 to No. 27 due to a weak performance by local companies in attracting or retaining talent, despite the nation’s relatively high quality of life, the report said.

Taiwan ranked behind some of its major trade rivals in the Asia-Pacific region, such as Singapore (13th), Hong Kong (18th) and Malaysia (22nd), but pulled ahead of Japan (29th), South Korea (33rd) and China (39th), the report said.

Taiwan lagged behind most other economies in efforts to make its business environment attractive to highly skilled foreign personnel, placing 55th in the category, it found.

The cost of living index — based on a basket of goods and services — deteriorated further, with the nation placing 49th, two notches down from last year, it said.

The Lausanne, Switzerland-based institute has warned Taiwan against a persistent brain drain, with its ranking falling from 47th to 51st place, it said.

Singapore continued to excel in attracting foreign professionals to sustain its top-tier talent pool, while Malaysia moved up six notches by increasing investments in education to develop a skilled workforce, the report said.

Malaysia also boosted perceptions about the quality of its talent pool, the report said.

Taiwan also put up a soft performance in talent investment and development, with its total public expenditure on education standing at a modest 3.8 percent of GDP, ranking 47th, it said.

The nation had a mediocre showing in the availability of skilled labor, finance skills, competent senior managers and senior managers with international experience, the report said.

The National Development Council, which helped gather data for the survey, said in a statement that the government would take the retreat seriously and draw up measures to reverse the trend.

The government has eased immigration requirements and lowered income tax burdens for foreign professionals, and are studying further stimulus measures, the statement said.

It has also provided scholarships and other incentives to encourage foreign students to study in Taiwan, it said.

Switzerland ranked 1st, followed by Denmark and Norway, while Venezuela had the lowest ranking, preceded by Mongolia and Mexico.

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