(CTN News) – In the ever-evolving landscape of global talent competitiveness, Thailand has made a significant mark by securing the 10th position in the Asia Pacific region according to the 2023 World Talent Ranking (WTR) conducted by the International Institute for Management Development (IMD).
Moreover, Thailand has earned a respectable 45th place among the 64 countries assessed globally.
This accomplishment, coupled with a global ranking of 29th in the appeal category, solidifies Thailand’s prowess in attracting and retaining talent, both domestically and internationally.
IMD’s 2023 ‘World Talent Ranking’: A Critical Tool in Challenging Times
The 2023 WTR emerges as a critical evaluation tool amid the persistent impact of the Covid-19 pandemic on talent competitiveness worldwide.
Despite these global challenges, Switzerland continues to hold its ground, maintaining the top position, with Luxembourg and Iceland following closely. Notably, Singapore stands proud as the lone Asian country within the top ten, securing the eighth position.
A Comprehensive Approach to Talent Assessment
The 2023 WTR is the product of meticulous study and analysis of 64 economies. This research hinges on 31 distinct criteria, incorporating a blend of hard data and survey responses from executives.
This comprehensive approach yields a reflection of each economy’s global talent competitiveness, systematically categorized into three factors.
- Investment and Development: This factor delves into the commitment level of domestic resources toward nurturing local talent. Thailand’s investment in education and skill development has evidently contributed to its strong ranking.
- Appeal: This factor concentrates on the capability of an economy to draw in and retain talent, both locally and internationally. Thailand’s appeal as a destination for skilled professionals is on the rise, making it an attractive prospect for talent from around the world.
- Readiness: This factor scrutinizes the quality and readiness of skills and competencies available in the talent pool. Thailand’s emphasis on producing a skilled and adaptable workforce has played a significant role in its readiness ranking.
A Shifting Work Paradigm
The 2023 WTR study unveils a somber reality: most regions are yet to regain their pre-pandemic levels of talent competitiveness. However, it also sheds light on the transformative changes occurring within the world of work.
As economies evolve towards becoming more service-oriented, the need for employees to physically inhabit the same country as their employers is dwindling. Remote work and virtual collaboration have become the norm, opening up new opportunities for talent acquisition.
A Glimpse into the Future of Talent
The WTR’s findings not only provide a clear snapshot of the current global talent landscape but also offer insights into the transformative changes occurring within the world of work.
As the dust of the pandemic begins to settle, the stage is set for economies to reassess and realign their strategies to attract, develop, and retain talent.
Thailand’s Ongoing Commitment to Talent Development
Thailand’s commendable performance in the 2023 WTR is a testament to its ongoing commitment to cultivating a vibrant and competitive talent ecosystem, ready to face the challenges and opportunities of the future.
With a strong emphasis on investment, appeal, and readiness, Thailand is positioning itself as a regional leader in talent development and retention.
In conclusion, Thailand’s impressive ranking in the 2023 World Talent Ranking showcases its dedication to fostering a thriving talent ecosystem, making it a prime destination for both local and international professionals seeking opportunities in the Asia Pacific region.
As the world of work continues to evolve, Thailand stands as a shining example of adaptability and resilience in the face of global challenges.