The Global Talent Competitiveness Index (GTCI) proposed each year by INSEAD, Google, and Addeco, shows that there is a direct correlation between a country's ability to attract, develop, and retain talent and its position in terms of global competitiveness and prosperity.

Extrapolating these findings to the area of personal talent management, the more willing individuals are to explore, cultivate, and develop their talents, the more competitive and fulfilled they are likely to be in different life situations.

Below, I share with you 5 basic principles of what I call the "Economy of Talent", strategies that can be very useful to focus and manage your resources and energies in the pursuit of your own talent.

1. People are often faced with dilemmas, situations in which we must choose between different paths. Each option has its own set of conditions that allow us to invest, develop and transform our talents. The important thing is to choose one.
2. Every decision will have an opportunity cost that will make you aware of what you are giving up by making a choice. This insight will give you more room for analysis, reflection, and conviction when deciding in favor of developing your talent.
3. Rational people think in marginal terms. As you interact with others, analyze your environment, and make decisions, it is important to make the necessary adjustments to your talent development plan that add value and well-being to your career and life.
4. The greater the incentive, the greater the commitment to talent. It's critical that you identify in your development plan what motivates you, what drives you, and what reminds you of the reasons and purpose behind every action you take to develop your talents, regardless of the challenges you face.
5. Sharing talent increases well-being. When you share what you do best with others, you undoubtedly grow. When you use your talents to co-create win-win opportunities, you increase your well-being at all levels, creating what we call "Collective impact."

Yes, economics helps countries and individuals in general manage their resources efficiently to meet their needs. From the same perspective, however, it can also provide guidance on how best to manage one's own talents, that intrinsic resource that belongs to every human being and that must also be managed efficiently to reach its maximum potential and well-being.

It's an imminent reality! As the GTCI demonstrates, talent is the value for which nations and companies are willing to offer whatever is necessary to have it and integrate it into their growth strategies.

Now, given the current situation and the requirements of a highly competitive job market, it's time to commit to a self-development plan that makes you one of the best in your field. Only then can you demonstrate that you are the professional that employers are looking for.

How committed are you to your own talent? Have you designed your own management and development strategy?