The Great Index Zoo Part I
A curated collection of 30+ indices, rankings, and benchmarks that we find useful and interesting for global talent management.
The below are quality, thoroughly produced data sets, which we use in our planning and analysis to understand:
Attractiveness of a region for talent mobility, expansion, talent access, and career development
The state of talent in a country: the factors in producing and managing talent; skills and productivity levels; efforts and outcomes for attracting, retaining, and developing talent
Presence of outcomes like innovation, knowledge sharing, and quality entrepreneurship
Policies of governments, NGOs, social partners, etc. towards talent and innovation
Outlier aspects of countries, positive or negative
Practicals like assignment costing, matching, expat and family preparation
A word of caution: There are valid criticisms of some of these indices. Survey partners may not have actual people on the ground in some of the countries. Some metrics seem subjective or a confounded variable. In some rankings the differences between the top 3, 5, or 10 country spots may be superficial; some indices segment countries or cities into relevant tiers before comparison. Some index creators or research partners may be prone to marketing initiatives by the countries and institutions they are evaluating. We leave deeper exploration to the reader.
GCI: Global Competitiveness Index
From the World Economic Forum, the GCI centers on 12 pillars: institutions, infrastructure, ICT adoption, macroeconomic stability, health, skills, product market, labour market, the financial system, market size, business dynamism and innovation capability.
GTCI: Global Talent Competitiveness Index
From Insead and Adecco with a rotation of other partner companies. The GTCI centers around 4 talent management inputs (enable, attract, grow, retain) and 2 outputs (technical skills, global knowledge skills). It also includes a city ranking (The Global City TCI). The 2020 edition highlights a country's success related to artificial intelligence and Industry 4.0, whereas 2019 highlighted entrepreneurial talent.
GII: Global Innovation Index
From Cornell, Insead, and the WIPO, this is a leading reference on innovation. The GII is based on 5 innovatioion inputs (institutions, human capital and research, infrastructure, market sophistication and business sophistication) and 2 outputs (knowledge & technology, creative outputs). It also subdivides nations into 4 income groups for better apples-to-apples comparisons. The latest edition highlights medical innovations, 2018 highlighted energy, and the upcoming edition focuses on financing innovation.
HCI: Human Capital Index
From the World Economic Forum, the latest edition was published in 2017. The HCI ranks countries on their development of human capital across 5 age groups and 4 dimensions (Capacity, deployment, development, and know-how). Notably highlights misuse and neglect of talent among all nations.
Hays Global Skills Report
From Hays, this index roughly captures how easy or hard it is for organizations to find skilled professionals. It is centered on 7 factors, primarily focused on skill gaps/mismatches with 3 of the 7 factors from wage data.
We think a nice companion skills gap index is the European Skills Index from CEDEFOP, which focuses on matching, activation, and development of skills. They also produce overeducation data which we'll discuss in Part II.
NECI: National Entrepreneurship Context Index
From the Global Entrepreneurship Monitor (GEM), the NECI is focused on perceptions, activity, motivations, and impact surrounding entrepreneurship. It also assesses 12 entrepreneurial country conditions. Top talent often leaves to start their own companies; quality entreprenuerial levels are a good index for talent.
IMD World Talent Ranking
From the IMD World Competitiveness Center, the World Talent Ranking centers around the 3 core pillars investment/development, appeal, and readiness. Latest editions also take into consideration air pollution levels, which we agree should play a role in talent mobility planning.
Futurebrand Country Index
A uniquely designed product from Futurebrand that measures the appeal and success of the brand of a country. The latest edititon focused on the concept of "Countrymaking," the activities and strategies that improve a country's brand. The index focuses on value systems, quality of life, business potential, heritage & culture, tourism, and the “Made in” factor.
GGGI: Global Gender Gap Index
A comprehensive assessment on country gender gaps from the World Economic Forum. We think a nice companion index is PwC's Women in Work Index. Utilizing all talent is critical for macro talent management, country competitiveness, and innovation. Some of the other indices already take gender gap into consideration but it's an important topic to understand in own right.
GGGI Publication:
PwC Publication:
Doing Business Index
From the World Bank this is a well known reference for the local business environment, with reporting that also compares business regulations. Country-specific snapshots are hosted on their website.
The Artificial Intelligence Index / AI Hiring Index
From Stanford's Institute for Human-Centered Artificial Intelligence, this is a broad index related to AI research, development, and adoption, also containing a useful hiring index. AI development is an index for innovation more generally, as well as an index for interest or active shifts towards Industry 4.0.
Our tour of The Great Index Zoo continues in Part II and Part III. We'll look at more favorites on innovation, global mobility, expat integration, city livability, overeducation and underemployment, currencies and PPP, lifelong learning, corruption, creativity and more.
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