26 Jan 2016 05:12:46 PM

Malaysia still the place to be for talent

Malaysia is now the second most attractive country in ASEAN for talent, according to a recent report produced jointly by INSEAD, Adecco Group and the Human Capital Leadership Institute of Singapore.
The annual benchmarking study, The Global Talent Competitiveness Index 2015-16, covers 109 countries and measures the countries' ability to develop, attract and retain talent.

Up five spots from last year's study, Malaysia now ranks 30th in the index, ahead of high-income nations such as Spain (36th) and South Korea (37th).

The top 10 countries sees a list dominated by the European and Scandavian countries, United States and Canada. The other two top ranking ASEAN countries in the GTCI study are Singapore (2nd) and  Phillippines (56th).
The study states that attractive factors for migration to Malaysia can be attributed to "the rapid urbanisation and industrialisation of Malaysia, which has led to increased quality of life and job opportunities." 

Also, variables related to “management practices such as employee development, relationship of pay to productivity and delegation of authority" as well as Malaysia's ability to attract foreign talent, gives the country an attractive brain gain ranking of 10 out of 109.

Although growing talent has traditionally meant the providence of formal education, the report suggests that talent development practices should move to include apprenticeships, training and continuous education through opportunities and experiences offered.

“Research shows that among the needs and expectations of the millennial generation (across the world but notably in Asian emerging markets), the thirst for professional and personal development is prominent,” the study states.

The full version of The Global Talent Competitiveness Index 2015-16 - Talent Attraction and International Mobility report can be downloaded here.

Table credits: Human Resources Online