Each year, the World Talent Report, produced by the Institute for Management Development (IMD) with the help of the Chamber of Commerce in Luxemburg case, estimates countries’ capacity to attract and sustain talent. In order to measure a aggregated performance, the IMD World Competitiveness Center observe three different areas : the investment in and development of home-grown talent (“Investment and development” factor), the ability of the country to tap into the pool of oversea talents (“appeal” factor) and the availability of skills and competencies (“readiness” factor).
Luxembourg has solid results in each area: 17th in readiness, 16th in Investment and Development, and 4thin Appeal. It places the Grand-Duchy at rank 10 in overall performance, behind nine European countries, including the same podium as in 2016, Switzerland, Denmark and Belgium, and just above Canada.
The study reveals powerful strengths in Luxemburg, as the employee training, the highly-skilled foreign personnel and the international experience of senior managers. Among The weaknesses, we have to mention the female labor force, the management education and the difficulty to find skilled collaborators.
In their review, the IMD World Competitiveness Center concludes that best performing economies to attract and sustain talent “offer an outstanding educational system from primary to tertiary levels, substantial opportunities for career advancement throughout the entire professional life span and a superior quality of life.”
- communicated by the Chamber of Commerce -