Singapore's workforce capability ranks 10th globally

The Singapore Central Business District (CBD) skyline.
The Singapore Central Business District (CBD) skyline.ST PHOTO: LIM YAOHUI

SINGAPORE- The latest World Talent Report from business school IMD places Singapore 10th in a ranking of work force capability globally.

The rankings, derived from an annual survey, capture countries' ability to nurture, attract and retain talent.

The rankings are based on 20 years' worth of competitiveness-related data. They also factor in a survey of over 4,000 executives in the 61 countries featured in the study.

Rankings are based on three main categories - investment in workforce development, appeal of the country, and readiness. The scores on these categories are derived from a broader range of factors. These factors include education, apprenticeship, employee training, brain-drain, cost of living, worker motivation, quality of life, language skills, remuneration and tax rates.

Singapore, which was ranked 16th last year, has also overtaken Malaysia as the South-east Asian economy best equipped to develop, attract and retain talent. Malaysia, which was fifth last year, fell out of the top 10.

Switzerland topped the rankings - as it did last year - followed by Denmark, Luxembourg, Norway, the Netherlands, Finland, Germany, Canada and Belgium.

Among the other major economies, the United States, Britain, France and China were ranked 14th, 21st, 27th and 40th .

In Asia, Hong Kong rose from 21st last year to 12th this year.