Peru Moves Up 5 places on IMD World Talent Ranking
The Institute for Management Development (IMD) has announced that Peru now holds the 52nd position on the most recent World Talent Ranking. This means Peru moved up five places compared to 2017. The overall score increased with more than 5 points between 2017 and 2018 from 39.1 to 44.3.
This points are given according to three different factors. The first one is the ‘Appeal’ factor”: the degree to which countries attract both national and international talents. Then there is the ‘Investment and Development’ aspect, which measures the extent to which human capital is being cultivated. Finally, the ‘Readiness’ factor is about the capabilities and the know-how currently available in the country.
This significant rise of points is mostly due to the government’s increased spending on education and the growth in national and international labor force in the country. In addition, due to a broad campaign the government has managed to reduce so-called ‘brain drain’ (highly-educated people leaving remote areas to go work in the big cities).
These improvements mainly had a positive effect on the Readiness factor. However, Peru did move down one spot in Appeal and two spots in the Investment and Development factor.
With Peru’s inclusion on the 52nd worldwide spot, the old Inca country also holds the third place in South America, right after Argentina (47th place) and Chile (43rd place). However, it has to be noted that only seven South American countries have participated.
The Institute for Management Development makes this ranking since 2016. This ranking is a good indicator for governments to see on which aspects they can improve to attract and preserve talents. In addition, companies use this ranking to see where to expand their investments.