Although most corporations think in terms of globalization, countries think more about how their national economies fit into the global scheme. Examining national competitiveness now and in the future provides important insights for many countries.

The US for instance continues to raise the alarm about student math and science ill-preparedness and that relationship to driving future technology innovations and American prosperity. The National Academy of Sciences, National Academy of Engineering, and Institute of Medicine published a lengthy examination in Rising Above The Gathering Storm: Energizing and Employing America for a Brighter Economic Future.

“The next generation of Americans must be better educated in math and science -- or they won’t be able to keep up in the new global economy,” said Tom Luce, CEO of the National Math and Science Initiative, which was created as a result of the “Gathering Storm” report.

The Canadian Chamber of Commerce outlines 14 suggestions in its report Prosperity without Borders: Statement on Canadian Competitiveness. Its key points include:
• People and their skills play an important role in a nation’s productivity performance and are essential to businesses’ ability to grow and succeed.
• Developing talent and supporting innovation within Canada is critical.

Finland is starting an Innovation University with the goal of being a leading institution in the world in terms of research and education in the field of technology, business studies and art and design. China and Singapore are embarking on similar initiatives.

It seems you can substitute or make generic nearly any of the country names in the quotes and stories above. What’s the common thread? Talent – talent drives performance.

The Heidrick & Struggles/Economist Intelligence Unit report Mapping Global Talent: Essays and Insights opens with “Talent is the new oil and just like oil, demand far outstrips supply.” An accompanying video on the Global Talent Index provides additional perspective.

Countries—like companies—need to acknowledge talent as their key to competitive advantage and path into the future. Top talent drives performance in companies worldwide and in countries globally. Therefore, successful talent management is a fit both nationally and internationally.