Romania scores 48 of 61 in talent competitiveness ranking

With an overall score of 23.3, Romania dropped ten places from 2014 to the 48th position in the IMD World Talent Ranking 2015 which aims to analyze a country’s capacity to host and grow talent, by IMD World Competitiveness Center.

The first place was taken by Switzerland, the same as in 2014, with a score of 100. Denmark (83.7 points) came in second with no change also, while Luxembourg climbed 10 spots to third (78.6 points). The last five places were taken by Brazil (10.8 points), Croatia (9.6), Peru (7.8), Venezuela (2.9) and Bulgaria (0.0).

Romania had the best score in 2014, when it placed 38th, while in 2013 it was 20 positions lower at 58 and in 2012 it was at 55. Factors taken into account for the overall score are investment and development, for which Romania placed 53rd, readiness (47th) and appeal (44th).

Investment and development traces the size of public investment in education, quality of education, apprenticeship and training programs. The appeal factor goes beyond the focus on the local labor force to incorporate the ability of a country to tap into the overseas talent pool by including cost of living, quality of life and taxation levels in a particular economy. The readiness factor looks at the context of the talent pool by considering the growth of the labor force and the quality of the skills available.

Our country’s appeal was the only factor that indicated betterment, rising three places from the previous year, while in terms of readiness it dropped 11 positions and at investment and development 12.

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In the case of investment and development Romania presented a good situation in employee training (13th), which proved to be a high priority in companies, while public expenditure on education (57th) and apprenticeships (61st) were the lowest points of our economy.

Our economy presented attractiveness in terms of cost of living (5th), talent retaining in companies (14th) and encouraging competitiveness (20th), while registering low quality of life (57th) and personal tax rates (percentage of an income equal to GDP per capita – 59th).

In terms of readiness Romania scored mostly average, with the lowest criteria being labor force movement (59th), which dropped 5.4 percent against the previous year.

Natalia Martian