Luxembourg ranks 7th on Global Talent Competitiveness Index

According to the recent Global Talent Competitiveness Index 2017 Luxembourg has slipped from 3rd place in 2016 to 7th place in 2017 but still remains in the top ten of the GTCI 2017!

Luxembourg is still very good in attracting (2nd) and retaining talents (3rd) and shows a great external (3rd) and internal (5th) openness.

Areas of improvement are Labour Market Flexibility (60th), and Formal Education (46th).

As the study focused on “how technology is affecting talent competitiveness and the nature of work”, the main findings of the report are:

“ Technology is changing the nature of work”

Organisations and societies have moved from an environment in which work was based on contractual employment (employees) to one where nearly 30% of the population in Europe and the United States are to a greater or lesser extend working as free agents or within the scope of temporary contracts.

“Technical skills plus social/project competence is the new talent profile.”

Digital skills are mandatory in today’s economy but these skills need to be complemented with other important skills like project management, social skills and the ability to create a network as successful innovations arise out of collaboration and co-creation.

“Educational and employment policies must adapt to the transformational changes of the fourth industrial revolution.”

Our educational systems are unfortunately still focusing on forming routine workers and professionals instead of forming talents with technical skills, collaboration-abilities and learning agility adapted to today’s technology driven businesses.

Employment policies need to be adapted towards labour market flexibility “that facilitate mobility, re-training, entrepreneurship, and adjustment to market needs”

Read the full report

GTCI report 2017