Director of Invest in Denmark, Susanne Hyldelund, comments:
-“When we ask foreign companies why they choose Denmark as a business location, a very frequent answer is competences. The Danish workforce is generally perceived as innovative and efficient, and education is highly prioritized by the Danish government to ensure that we keep the high standards. I am pleased to see that the new Talent Competitiveness Index confirms that we can offer companies a world class product in terms of talent.”
According to the report, some of the main reasons for Denmark’s top 3 ranking are high government effectiveness, ease of doing business and labour market flexibility; all parameters that are important for the development of talent and the ability to turn this talent into actual result.
Education and life-long learning is high on the agenda in Denmark and the Danish government is aiming for 60 per cent of the workforce to have higher education. Not only is education free, students also receive a grant to cover basic living expenses during their studies. This is combined with the unique Danish flexicurity system, which at the same time offers flexibility for companies to hire and fire, and economic security for dismissed employees.
Talent attracts international investors
For employers and policy-makers alike, the report provides a timely insight into the global pools of talent and what drives competitiveness in this area. It shows that the right talent policies can be critically important to attracting the global companies that can contribute to job creation and spur further development. Denmark’s top 3 ranking underlines the fact that there is a strong foundation of talent available in Denmark for companies seeking to invest in areas such as R&D and innovation.
Patrick De Maeseneire, CEO of Adecco Group, said, "Talent has become the key resource of our global economy. The talent champions foster and develop locally available talent by making their labour markets more flexible, by investing in lifelong learning and by promoting geographical mobility. Governments and companies need to work closer together to build labour markets where education systems create the right skills to match employers' needs."
About the Global Talent Competitiveness Index
The GTCI model and rankings rely on a variety of reliable international sources including the United Nations Educational, Scientific and Cultural Organization (UNESCO), the World Bank, and the World Intellectual Property Organization (WIPO). 48 variables are grouped into talent enablers, attraction, growth, retention as well as output in terms of vocational and global knowledge skills. Furthermore, the GTCI model has passed the test of a rigorous audit by the Joint Research Centre (JRC) of the European Commission.
The purpose of the GTCI is to provide a neutral, global and respected index that enables private and public players to assess the effectiveness of talent-related policies and practices, identify priorities for action in relevant areas and inform international and local debates in the talent arena. The GTCI model covers 103 countries, representing 86.3% of the world's population and 96.7% of the world's GDP.
Download the report.
“Some people would say if you want to get ahead with your life, if you want to live the American dream, go to Denmark.”
- Professor Paul Evans, INSEAD
Watch the editors Professor Paul Evans, Academic Director of the INSEAD Global Talent Competitiveness Index and Bruno Lanvin, Executive Director for Global Indices, INSEAD by INSEAD Knowledge talk about the methodology and the findings of the report.