Brazil ranked 75th (out of 134 countries) in competitiveness in attracting and developing talent – INSEAD

RIO DE JANEIRO, BRAZIL – In the 9th position in the Global Talent Competitiveness Index among Latin American and Caribbean nations, Brazil stands from mid to bottom of the list (of 134 countries) due to a combination of poor performance in internal education and ability to attract talent abroad.

Despite holding better positions in sub-indexes such as “access to growth opportunity” (55th place) and “level of sustainability” (53rd), the deficit in security and education affect the country’s ability to compete in terms of a qualified labor force.

In addition to the federal government’s budget shortfall to pay for teacher training scholarships, the Bolsonaro administration has cut R$600 (US$107) million from planned resources for science and technology.

The annual ranking is produced by INSEAD French business school in partnership with the Accenture consultancy and the Portulans Institute. The study is based on qualitative research by executives at the World Economic Forum combined with data from sources such as the World Bank, UNESCO, and the OECD. It is audited by a European Commission research center.

With 17 European countries in the top 25 positions, the ranking is headed by Switzerland, Singapore, and the United States. China is ranked 37th.

Outside Europe are Australia (11th), Canada (13th), New Zealand (15th), Japan (20th), Israel (21st), and the United Arab Emirates (25th). Latin America and the Caribbean region is, for the first time, represented in the top 40, with Chile in 33rd place.

One of the highlights of the study, which emphasizes the Covid-19 pandemic, is that governments have a new role in training professionals for the coming years, with financial recovery packages and stimulus to the labor market. In addition, international inequalities are again exacerbated, with a gap separating the most competitive from the countries at the bottom.

The study notes that the “digital divide,” that is, the separation of countries that have been able to move the economy digitally from those that have not, will be one of the drivers of global inequality.

According to the World Bank, poverty has increased worldwide during the pandemic and 125 million more people live on less than US$1.90 a day. In Brazil, despite the new “Auxílio Brasil” (Brazil Aid), which may reach R$300, the poorest classes will continue to grow and lose income.

Another point is a potential K recovery: workers employed in sectors not affected by the crisis, such as technology, retail and software services, would find more opportunities than workers in areas already under pressure, such as travel and entertainment.

“Nevertheless, one should not underestimate the ability of companies (and sometimes entire industries) to reinvent themselves when faced with major crises. Innovation and agility can play a critical role in repairing K’s bottom branch,” the study says.

The research also features a ranking of “prosperous cities” to work, which considers variables such as per capita GDP, ease of doing business, patent production, universities, safety, and well-being.

The first position is held by San Francisco, USA, followed by Geneva (Switzerland), Boston (USA), Zurich (Switzerland) and Luxembourg (Luxembourg).