Abstract
Talents become a key determinant of sustainable economic development under the condition of a balanced and effective governmental policy aimed at their cultivating, developing, and retaining. Countries that accumulate a critical mass of such talent will be able to quickly overcome existing crises, actively innovate, and ensure progressive economic and social development. The article identifies the role and importance of talents to ensure the competitiveness of the national economy and its growth. The competitiveness of talents from different countries, including Ukraine, was assessed according to two influential rankings – IMD World Talent Ranking and The Global Talent Competitiveness Index (GTCI). The study of both rankings helps to identify the TOP-10 countries in the world with the best indicators of talent development, as well as Ukraine’s positioning among the countries of the world and Eastern Europe. Ukraine’s talent assessment according to IMD World Talent Ranking shows that with relatively high investment in talent development, Ukraine remains unattractive to foreign and domestic talent with a relatively low quality of skills and competencies of the existing workforce, which indicates low efficiency of measures taken by the government and state financial management on talent development. According to GTCI, Ukraine has the best position in the lower-middle-income countries in terms of both the overall competitiveness index and its criteria but occupies the lowest position in Eastern Europe. The country is characterized by lasting low positions in the Input pillars of the GTCI, including its two components – Enablers and the policy of attracting talent to the country (Attract), indicating low activity of government and business in creating a favorable environment for talent development. Based on the results of the study, the author identifies the factors that affect the competitiveness of talent in Ukraine and offers basic measures to overcome the skills shortage and create a favorable environment for the development and attraction of talent in Ukraine.
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