Ahead of labor, materials, and energy costs, a new report states that access to talented workers capable of supporting innovation are the key factor driving global competitiveness at manufacturing companies. The 2010 Global Manufacturing Competitiveness Index, a research report from Deloitte's Global Manufacturing Industry group and the U.S. Council on Competitiveness, also states that difficulties accessing the right kind of talent are likely to contribute to the U.S. becoming less globally competitive in the next five years, dropping the country into fifth place with Brazil leapfrogging it.
The current top 10 in terms of competitiveness, is, in order, China, India, S. Korea, the U.S., Brazil, Japan, Mexico, Germany, Singapore, and Poland. In five years time, the report forecasts the list will change to China, India, S. Korea, Brazil, the U.S., Mexico, Japan, Germany, Poland, and Thailand, with Singapore dropping out and Thailand joining the list.
The study's findings are derived from a ranking system that asked survey respondents to assign a numbered score of importance between one and 10 to a list of factors affecting industry competitiveness. In order of importance, respondents ranked talent-driven innovation; cost of labor and materials; energy cost and policies; economic, trade, financial, and tax systems; quality of physical infrastructure;...