Luxembourg, In Top 3 Countries In The World For Retaining Talents

The World Talent report, issued by the World Competitiveness Center, analyzes the ability of a country to develop and attract qualified and talented individuals, who can contribute to the needs and development of a company. Foreign investors who are interested in opening a company here should know that Luxembourg ranked as the 3rd worldwide economy on the talent ranking study.

 

The world talent ranking is comprised of three factors:

 

• investment and development;

• appeal;

• readiness.

 

Investment and development refer to public investment in education and at the quality of the educational system, given by the relation “pupil-teacher”. The factor takes into account the implementation in the school system of apprenticeships programs, created to meet the needs of the market; another important aspect is the trainings offered by companies to their employees. The factor accounts for the government reforms which have implemented a system in which skills and competencies are developed. 

 

The appeal factor refers to the quality of life, the salary levels for executive and management employees and on the personal income tax rate. 

 

Readiness factor analyzes the ability of the educational system to provide qualified and talented persons with higher education and language skills. The factor refers to educational assessments and student mobility, but also on the finance and management skills of these individuals; under this factor, the World talent ranking is also taking into account the abilities of senior managers. 

 

 

The World Talent Ranking has revealed that Luxembourg occupies the third place for the Appeal and Readiness factors, on a worldwide level. For the first factor, investment and development, Luxembourg qualified as the 9th world economy. Foreign investors interested in opening a company here should know that the employees, especially those in the management positions, are having a high level of qualification.

 

If you need further information on the subject, please contact our company formation agents in Luxembourg.