Latin America, in the tail car in developing and retaining talent
Latin America occupies the last places of the Global Talent Ranking published today by the World Center on Competitiveness (CMC), an annual evaluation of 63 economies based on their ability to develop, attract and retain talent and that Switzerland leads another year.
Latin American countries have difficulties to develop and retain talent, in addition to sharing the general problem of brain drain and relatively low levels of investment in education.
The exception is Chile and to a lesser extent Argentina, although both countries are in the lower half of the ranking, in which they occupy positions 43 and 47, respectively.
"It is obvious that structural reforms are lacking because talent in a large part of Latin American countries does not have economic or personal security and has no opportunities," said CMC economist José Caballero, who participated in the preparation of the list.
This Global Ranking, which is published annually since 2014, takes into account three main factors: investment and development of a talented workforce, the ability of countries to attract and retain foreign and local talent and preparation, which is referred to to the skills available in the country.
The two traditional regional powers, Brazil and Mexico, are at the bottom of the list, the first in the 58th position and the second in the 61st.
Although its results are low in all factors, Mexico presents the most acute problems in investment and talent development, which includes indicators related to education, youth training and social elements, such as health infrastructure.
Brazil, meanwhile, shows little attraction for foreign talent to consider settling there, as well as a workforce that lacks, in general, the knowledge required by the private sector.
In Latin America, the CMC ranking also includes Peru, in 52nd position, Colombia in 60th and Venezuela, which closes it in 63rd.
Insufficient investment in education is not necessarily the reason why the region lags behind in terms of talent development and retention, according to Caballero.
There is a tendency that the dominant formations do not necessarily correspond to what countries need to be able to insert themselves in a constantly changing global economy, which requires knowledge in new technologies and be flexible.
The economist explained that, in a separate study, the CMC tried to establish what it is that makes the talent decide to stay in certain countries and what was discovered surprised many.
"What we find is that it goes beyond salary, salary is important, but not as much as was supposed, and that the rule of law and social progress are fundamental, through inclusion and equality of opportunities, indicators in the that Latin America is in a bad position, "Caballero said.
Another underlying need is to improve personal security, the specialist added.
According to the research center, based in the Swiss city of Lausanne, cultivating an educated and qualified workforce is essential to strengthen the competitiveness of any country and achieve long-term prosperity.
Among the general ranking results highlights that the most successful countries are mainly medium-sized Europeans, with high levels of investment in education and quality of life.
The second place is for Denmark in a list in which the top ten are dominated by European countries, with the exception of Canada, which appears in sixth position.
