Although located in the most lagging positions, Mexico rose from 60th to 56th place in the 2020 World Talent Ranking, prepared by the Institute for Management Development (IMD).
The ranking assesses the status and development of the skills necessary for companies and the economy to achieve long-term value creation.
It does so using a set of indicators that measure the development, retention and attraction of a highly qualified national and international workforce.
Based on IMD research, the World Talent Ranking methodology defines Talent Competitiveness in three main factors: Investment and Development, Appeal and Readiness.
These three factors comprise 31 criteria, although each factor does not necessarily have the same number of criteria (for example, more criteria are needed to assess readiness than to assess investment and development).
Each factor, regardless of the number of criteria it contains, has the same weight in the general consolidation of results which is 1/3 (3×33, 3 ~ 100).
Criteria can be hard data, which looks at talent development as it can be measured (for example, total public spending on education) or soft data, which looks at the quality of these investments as perceived (for example, education in management).
Finally, to calculate the overall ranking, the IMD adds the criteria to calculate the scores for each factor that serve as the basis for generating the overall ranking.