Competitiveness in the Global Context - Essay Example

Competitiveness in the Global Context Country capa to retain talent Canada global competitiveness score ranks 15th out of 144 countries. It has a score of 5.2. India on the other hand ranks 71 out of 144 countries and has a score of 4.2. In studying one of the 12 pillars of competitiveness, which is labor market efficiency, a comparison of the two countries will be provided (GCR, 2014).Canada for instance has been steady in creation of new employment opportunities for its citizens. Ever since the global recession, recovery for the country has been steady to a pace of more than 1 million jobs created yearly (GCR, 2014).

In addition, the GDP per capita is high when compared to the country India (India, 2014). The labour market is regulated and good as the number of unemployment rates is down. Furthermore, Canada has a good education system that has been able to constantly produce the enough labor force to run the economy. On the down side, Canada has not been blessed in produced graduates doing science, engineering, mathematics and technology, hence relies more on international labour forces to fill this gap (GCR, 2014).

Based on the above analysis, it is evident that Canada has a higher capacity to retain talent than India based on the fact that it has a high employment rate, good wage bill rates, and good education systems for producing the labor force (Canada, 2014). India on the other hand does not have the capacity to retain its labour force since they have a high unemployment rate, low wage bills and do not appreciate people in certain field of studies due to lack of capacity to absorb them (GCR, 2014).

2-Country capacity to attract talentIn India, the labour force is not steady. Ever since the economic recession, the number of unemployment rates increased and recovery has been slow since the job creation has been slow. In addition, due to the flexibility of the labour force in India, wage rates have decreased (GCR, 2014). The GDP per capita in India is very low when compared to Canada (Canada). India on the bright side has a population of citizens who have graduated in the fields of science, engineering, mathematics and technology.

Such students usually get absorbed in countries that require their skills since India is not that well developed (GCR, 2014). Based on the analysis above, it is evident that Canada has a better capacity of attracting talent due to the fact that they have a high employment rate, good wage rate plus need expertise in areas dealing with science, engineering, mathematics and technology. India on the other hand does not have the capacity to attract talent due to their poor economic state, high unemployment rates, and low wage bill rates (GCR, 2014).

ReferencesCanada. (2014, April 10). JOBS REPORT: The state of Canadian Labor Market. Retrieved November 30, 2014, from budget.gc.ca: http://www.budget.gc.ca/2014/docs/jobs-emplois/pdf/jobs-emplois-eng.pdf GCR. (2014, November 16). Canada. Retrieved November 30, 2014, from Global Competitiveness Report: http://reports.weforum.org/global-competitiveness-report-2014-2015/economies/#economy=CANGCR. (2014, November 16). Global competitiveness report. Retrieved November 30, 2014, from India: http://reports.weforum.org/global-competitiveness-report-2014-2015/economies/#indexId=GCI&economy=INDIndia.

(2014, August 2). Flexibility, Employment and Labour Market Reforms in India. Retrieved November 30, 2014, from globalcitizen.net: http://storage.globalcitizen.net/data/topic/knowledge/uploads/2009033119148705.pdf