It is glad to note that Singapore workforce ranked 10th in proficiency according to a new study by Swiss business school IMD. The professional annual study, which focus to measure how ready workers in a country are to perform in the job market, factored in 20 years’ worth of competitiveness-related data and efficaciously surveyed around 4,000 executives in the respective 61 countries studied.
It is revealed that Switzerland topped the rankings as it did last year followed respectively by countries like Denmark, Luxembourg, Norway and the Netherlands. Moreover Singapore was also the highest placed of any Asian nation and illustrated a big improvement from last year, when it was ranked 16th overall. The United States was 14th, Britain was 21st and China 40th. Interestingly the effective rankings were based on three main categories – education, appeal of the country to talent, and how work-ready people are.
With respect to education category, which was measured mainly by how much is invested in it, was Singapore’s worst performing area, where it ranked 29th. It was also enumerated that Singapore invests a relatively small amount of GDP in public education, with a ranking of 56 in this area. While taking other factor like second category measured the extent life in the country appeals to talented individuals. It is illustrated that Singapore was placed 18th.
The last factor of how well workers have been qualitatively prepared by the education system and on-the-job development to carry out their respective given tasks – was Singapore’s persuasive strength, earning it second place universally. After close analysis it is considered that Singapore’s six-place improvement over last year was mainly due to quality perception of the workforce. In recent times the popular chant of Study Singapore concept has become prominent among students.
The workforce was well trained and that the education system met the requirements of the economy. The biggest improvement in Singapore happened since the quality impression, the sentiment, among executives has become more positive. The improved ranking of Singapore to massive educational reform has brought out good results.