Thailand’s ranking improved to 70th in the 2018 GTCI

Thailand’s ranking improved to 70^th in the 2018 Global Talent Competitiveness Index (GTCI) and beats the USA for Gender Equality.

The Adecco Group, INSEAD and Tata Communications reveals the 2018 Global Talent Competitiveness Index (GTCI), an annual benchmarking tool ranking countries and major cities on their ability to develop, attract and retain talent.

From 119 countries across the globe, Switzerland remains at the top of the GTCI, followed by Singapore and the United States. Thailand moves from 73^rd to 70^th, beating neighboring countries such as Vietnam, Laos and Cambodia but still far behind Malaysia and other regional peers.

Among AEC, Thailand occupies fourth spot:

GTCI points to Thailand lacking in vocational skills-based labor:

Thailand claims relatively good performance in the ‘Enable’ and ‘Attract’ rankings, indicating supportive policies from the government / public sector, labor market and general business environment. However, Thailand does not fare well in the ‘Grow’ and ‘Retain’ rankings and needs to improve its performance in ‘Vocational Skills’ by producing more technically skilled labor to increase performance in the global talent competitiveness index.

Thailand scores well for Gender Equality

Thailand shows remarkably good performance in Workforce Diversity as well as globally in terms of gender equality, ranked 21^st in the world’s leading nations such as the U.S., France and U.K. (ranking 22^nd, 37^th and 59^th respectively). Thailand scored well in terms of the ‘Gender Earnings Gap’ reaching 11^th position, while also achieving an excellent result in the leadership opportunities available to women, ranking 28^th overall.

Adecco CEO said, “Government and academic institutes should foster the production of vocational skills-based labor to feed the emerging market. Committing to a culture of inclusion is a must to make diversity work”.

Tidarat Kanchanawat, Regional Director (Thailand and Vietnam) said; “This year, the global talent competitiveness index for Thailand again reinforces the ongoing problem of a lack of vocationally trained, skilled labor. At present, we are flooded with undergraduates while the market actually needs labor that is equipped with vocational skills and technical knowledge, to feed high growth sectors such as auto-parts manufacturing and electronics industries.

The solution is to change the perception of vocational education, establishing skilled-labor as having high social value, in order that more Thai people focus on vocational training and their technical capabilities. In the meantime, the government sector must move swiftly and remain agile in order to develop better vocational education systems and implement courses and modules that relate more to practical market demand. Educating students in relevant technical competencies as well as improving their English skills will increase Thailand’s competitiveness in the talent market across the AEC.

To grow and retain top talent, the Mentorship system should be restored and put back into practice. Senior employees who have the skills, experiences and positive attitudes should be working closely with new employees or junior staff, providing job training, offering consultation and advising on organizational culture. This will help new employees to better adapt to their employers company, their colleagues and the working environment; instilling employees with a positive attitude towards their employer and creating a lasting relationship and long-term commitment to the company.

Additionally, if companies can use the Mentorship system to create and develop Corporate Social Responsibility (CSR) by coaching undergraduates and offering career advice to new workers, employers can develop a positive corporate image, attracting future top talent. Similarly, the government sector can support the Mentorship system by connecting experienced volunteers who are able to offer ongoing career training and assist those that are seeking work; reducing the unemployment rate and training the specific skills to meet with market demand.

It is common knowledge that today’s economy is driven by innovation and that innovation is enhanced by a diverse talent pool. Therefore, in order to drive competitiveness in 2018, human resource management should focus on the diversity of their talent pool as this will improve creative thinking and lead to enhanced business competitiveness. Employers should ensure their hiring processes are focused on recruiting applicants based on their abilities, not gender, age, nationality, religion, education or social status. A culture of inclusion is key to making diversity work, companies should have open environments, be accepting of individual differences and respect differing ideas. Both collaboration and commitment from all individuals within an organisation is essential to ensure that a Culture of Inclusion is successful”

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About the Adecco Group
With more than 33,000 FTE employees and around 5,100 branches in 60 countries and territories around the world, The Adecco Group offers a wide variety of services, connecting approximately 700,000 associates with our clients every day. The services offered fall into the broad categories of temporary staffing, permanent placement, career transition and talent development, as well as outsourcing and consulting. The Adecco Group is a Fortune Global 500 company. Adecco Group AG is registered in Switzerland (ISIN: CH0012138605) and listed on the SIX Swiss Exchange (ADEN).

For further information please contact:
Adecco Corporate Press Office
Press.office@adecco.co.th or +66 (0) 2 832 3399 @AdeccoThailand