Published by the Visayan Daily Star
Editor-in-Chief & President
Bureau Chief, Dumaguete
MAJA P. DELY
|CARLOS ANTONIO L. LEONARDIA
The Philippines posted the biggest climb in the latest World Talent Ranking (WTR) report of the Switzerland-based business school International Institute for Management Development that surveyed 63 countries, rising six places to 49th place from 51st last year, but somehow remained the laggard among Southeast Asian countries.
The WTR looks at countries’ ability to attract, develop and retain an employable talent pool. The report was released in partnership with the Asian Institute of Management Rizalino S. Navarro Policy Center for Competitiveness.
In ranking countries, the WTR looked at three factors. Investment and development measured how much resources were invested to cultivate “home grown” talent; appeal evaluated the extent to which an economy “attracts and retains” foreign and local talent; and readiness looked at the “availability of skills and competencies” in the labor force. It also took into account responses to IMD’s executive opinion survey.
The Philippines showed improvements in readiness and appeal but saw marginal gains in the investment and development, remaining near the bottom of the list at 61st. The report cited our overall strengths as the availability of skilled labor (3rd overall), percentage of graduates in the sciences (13th), availability of language skills (16th), cost of living index (15th) and effective personal income tax rate (8th).
The country was found wanting when it came to government expenditure on education per student in the secondary level (56th), total public expenditure on education per student on all levels (61st), student-teacher ratio in the primary (59th) and secondary (57th) levels. An education system that was described as “underperforming” holds lots of room for improvement.
Asked on what the Philippines can do to maximize its strengths to further improve its ranking, IMD World Competitiveness Center Director Arturo Bris responded “it is paramount for the country to stop the flow of talent abroad. Therefore retention of talent should be a priority of policy.” He urged the country to implement policies that increase the quality of life, access to services, higher salaries and better labor conditions so the prodigious talents of the country will not flee and international talents will be attracted.*