As nations grapple with an increasingly competitive global talent landscape, a new study, published in the journal World Development, suggests that countries should rethink their approach to developing, attracting, and retaining talent. To address the need for a more complete understanding of cross-national variation in talent development strategy, the study proposes Talent Portfolio Theory (TPT), a novel approach to studying and improving human resource development.

The researchers, Stanford sociologist Gi-Wook Shin, the William J. Perry Professor of Contemporary Korea and the director of APARC and the Korea Program, and Haley Gordon, a PhD candidate at Stanford’s Department of Sociology, draw on the principles of Modern Portfolio Theory, a well-established framework in financial investment literature, to propose a new framework for talent development.

The new framework, TPT, views a nation’s talent strategy much like an investment portfolio, emphasizing the importance of diversification, risk management, and rebalancing. Shin and Grodon examine Japan and Singapore as case studies to illustrate how the TPT approach can help scholars, policymakers, and businesses better understand and optimize talent development strategies.

The study is part of the Talent Flows and Development research track of the Stanford Next Asia Policy Lab (SNAPL). Housed at APARC and directed by Shin, SNAPL is a new initiative committed to addressing emergent social, cultural, economic, and political challenges in Asia-Pacific nations through interdisciplinary, policy-relevant, and comparative research.

A Fresh Perspective on Talent Development

Talent development has long been a priority for nations aiming to boost economic growth and compete globally. Traditionally, countries have focused on building human capital — developing skills and education among citizens — and social capital — strengthening networks and relationships that facilitate cooperation and innovation. Existing strategies, however, often overlook the interconnected nature of various talent flows, including the movement of domestic talent, international talent, and diaspora engagement.

Just like financial theory evaluates a given investment (and its risk and return qualities) by how it impacts a portfolio’s overall performance rather than in isolation, TPT treats talent as a portfolio composed of four key elements, known as the “four Bs”: brain train (domestic talent development), brain gain (attracting foreign talent), brain circulation (movement of talent between home and abroad), and brain linkage (engagement with diaspora communities).

“In the study of national talent development, it is imperative to consider both the human and social capital facets of talent, as a country has multiple layers of talent available for use – domestic, diasporic, and foreign – each with different human and social capital potentials,” write Shin and Gordon. They propose TPT as “a better framework for illustrating and comparing different experiences and impacts of talent development at the national level, which is also key in offering policy prescriptions for human resource strategies.”

Insights from Japan and Singapore

Using Japan and Singapore as case studies, the authors demonstrate how countries can apply TPT to manage their talent portfolios. Japan's economic growth relied on two tiers of human capital: top-level scientists and engineers who adapted and integrated foreign technologies for domestic use, and skilled workers who grasped the fundamentals of these adapted technologies and carried out the manufacturing processes. With limited prospects for brain gain, circulation, or linkage, Japan developed these two layers of its workforce by relying on brain train, cultivating domestic talent for its industrial development.

In the early 1990s, however, Japan’s economy ran into trouble. Its system of brain train was well-suited for driving incremental innovation, but it became restrictive in the rapidly evolving landscape of the early 21st century, which demanded more disruptive innovation. “The Japanese model of human resource development necessitated a robust supply of domestic manpower which now became increasingly difficult to sustain, and a shrinking working-age population also meant labor shortage and reduced productivity,” say Shin and Gordon. “In the language of TPT, Japan urgently needed to diversify its talent portfolio beyond its reliance on brain train to address new risks.”

Recognizing the risks of a skewed talent portfolio, Japan began to rebalance its talent portfolio in the 2010s but has struggled with demographic decline and a slow pivot toward international talent. Despite efforts to internationalize higher education and attract foreign talent, Japan’s diversification of its talent portfolio has been stagnant and was hard hit by the COVID-19 pandemic.

In contrast, Singapore’s approach showcases the benefits of a well-balanced talent portfolio. The city-state’s aggressive pursuit of foreign talent (brain gain) and robust engagement with its diaspora (brain linkage) have made it a leader in global talent strategy. Singapore’s government has continually adjusted its policies, actively rebalancing its talent portfolio to maintain a competitive edge.

Singapore started rebalancing its talent portfolio in the 1990s, not only enhancing its efforts toward brain train but also expanding brain gain by internationalizing higher education and actively promoting a “work-migration” path. In tandem with its brain gain initiatives, Singapore also turned to its diaspora, fostering brain circulation and establishing stronger brain linkages. Through concerted efforts by the government and industry, Singapore has successfully produced and attracted creative talent that allowed it to remain globally competitive.

“Talent Portfolio Theory enables a holistic understanding of the various components of Singapore’s talent strategy and its evolution over time, from the country’s focus on brain train during its catch-up phase to its rebalancing with a successful brain gain, in addition to more recent forays into brain circulation and brain linkage,” Shin and Gordon explain.

Toward Fostering Cultural Diversity

TPT offers a powerful framework for crafting more resilient and adaptive talent strategies. As the global competition for skilled workers intensifies, understanding the dynamics of talent portfolios can help countries mitigate risks, capitalize on opportunities, and avoid the pitfalls of overly narrow approaches to human resource development. For instance, countries experiencing demographic decline, like Japan, can look to Singapore’s model of timely rebalancing as a guide for policy adjustment. Businesses also stand to benefit from TPT. The framework encourages companies to look beyond the availability of local talent and consider the broader talent ecosystem, including international talent flows and diaspora engagement.

Shin and Gordon emphasize that structural and sociocultural factors often limit policy options for building and rebalancing talent portfolios. Japan and Singapore illustrate that developed countries with abundant domestic opportunities are better positioned to retain talent and attract brain gain, whereas developing countries often experience talent outflows, favoring brain circulation or linkage (as seen in China and India). Additionally, while ethnically homogenous countries like Japan may prefer to rely on domestic and diasporic talent, multiethnic countries like Singapore can better attract foreign talent and engage in brain gain.

The contrasting experiences of Japan and Singapore underscore the critical importance of fostering cultural diversity to attract foreign talent. Singapore’s success with brain gain, compared to Japan’s more mixed outcomes, largely stems from its multicultural environment, shaped by policies that protect minority rights and actively promote respect for diverse ethnic groups. To remain competitive in the global talent market, countries must prioritize sociocultural policies that cultivate openness, tolerance, and diversity. By embracing these values, nations can attract the best and brightest minds, ensuring their place in a rapidly evolving global economy.

The Walter H. Shorenstein Asia-Pacific Research Center (APARC) is pleased to invite applications for a host of fellowships in contemporary Asia studies to begin in Autumn quarter 2025.

The Center offers postdoctoral fellowships that promote multidisciplinary research on Asia-focused health policy, contemporary Japan, and contemporary Asia broadly defined, postdoctoral fellowships and visiting scholar positions with the Stanford Next Asia Policy Lab, and a fellowship for experts on Southeast Asia. Learn more about each opportunity and its eligibility and specific application requirements:

Asia Health Policy Program Postdoctoral Fellowship

Hosted by the Asia Health Policy Program at APARC, the fellowship is awarded to one recent PhD undertaking original research on contemporary health or healthcare policy of high relevance to countries in the Asia-Pacific region, especially developing countries. Appointments are for one year beginning in Autumn quarter 2025. The application deadline is December 1, 2024.

Japan Program Postdoctoral Fellowship

Hosted by the Japan Program at APARC, the fellowship supports research on contemporary Japan in a broad range of disciplines including political science, economics, sociology, law, policy studies, and international relations. Appointments are for one year beginning in Autumn quarter 2025. The application deadline is December 1, 2024.  

Shorenstein Postdoctoral Fellowship on Contemporary Asia

APARC offers two postdoctoral fellowship positions to junior scholars for research and writing on contemporary Asia. The primary research areas focus on political, economic, or social change in the Asia-Pacific region (including Northeast, Southeast, and South Asia), or international relations and international political economy in the region. Appointments are for one year beginning in Autumn quarter 2025. The application deadline is December 1, 2024. 
 

This announcement was updated on October 6, 2023, to reflect the addition of two new fellowship offerings focused on contemporary Taiwan.

The Walter H. Shorenstein Asia-Pacific Research Center (APARC) is pleased to invite applications for a suite of fellowships in contemporary Asia studies to begin fall quarter 2024.

The Center offers postdoctoral fellowships that promote multidisciplinary research on Asia-focused health policy; contemporary Japan; contemporary Asia broadly defined; postdoctoral fellowships and visiting scholar positions as part of the new Stanford Next Asia Policy Lab; and a fellowship for experts on Southeast Asia. Learn more about each opportunity and its eligibility and specific application requirements:

Asia Health Policy Postdoctoral Fellowship

Hosted by the Asia Health Policy Program at APARC, the fellowship is awarded annually to one recent PhD undertaking original research on contemporary health or healthcare policy of high relevance to countries in the Asia-Pacific region, especially developing countries. Appointments are for one year beginning in fall quarter 2024. The application deadline is December 1, 2023.

Postdoctoral Fellowship on Contemporary Japan

Hosted by the Japan Program at APARC, the fellowship supports research on contemporary Japan in a broad range of disciplines including political science, economics, sociology, law, policy studies, and international relations. Appointments are for one year beginning in fall quarter 2024. The application deadline is December 1, 2023.  
 

The Walter H. Shorenstein Asia-Pacific Research Center (APARC) is pleased to announce a suite of training, fellowship, and funding opportunities to support Stanford students interested in the area of contemporary Asia. APARC invites highly motivated and dedicated undergraduate- and graduate-level students to apply for these offerings:

APARC Summer 2023 Research Assistant Internships

APARC seeks current Stanford students to join our team as paid research assistant interns for the duration of the summer 2023 quarter. Research assistants work with assigned APARC faculty members on varied issues related to the politics, economies, populations, security, foreign policies, and international relations of the countries of the Asia-Pacific region. This summer's projects include:

• The Biopolitics of Cigarette Smoking and Production
• The Bureaucratic State: A Personnel Management Lens
• China’s Largest Corporations
• Healthy Aging in Asia
• Hiding in Plain Sight: How China Became A Great Power
• Nationalism and Racism in Asia
• U.S. Rivals: Construct or Reality?  
   

All summer research assistant positions will be on campus for eight weeks. The hourly pay rate is $17.25 for undergraduate students, $25 for graduate students.

The deadline for submitting applications and letters of recommendation is March 1, 2023.

Please follow these application guidelines:

I. Prepare the following materials:

• A current CV;
• A cover letter (up to 1 page);
• Completed Student Information Sheet

II. Fill out the online application form for summer 2023, including the above two attachments, and submit the complete form.

III. Arrange for a letter of recommendation from a faculty to be sent directly to Shorenstein APARC. Please note: the faculty members should email their letters directly to Kristen Lee at kllee@stanford.edu. We will consider only applications that include all supporting documents.

For more information and details about each summer research project, visit the Summer Research Assistant Internships Page >

APARC 2023-24 Predoctoral Fellowship

APARC supports Stanford Ph.D. candidates who specialize in contemporary Asia topics. The Center offers a stipend of $37,230 for the 2023-24 academic year, plus Stanford's Terminal Graduate Registration (TGR) fee for three quarters. We expect fellows to remain in residence at the Center throughout the year and to participate in Center activities.

Applications for the 2023-24 fellowship cycle of the APARC Predoctoral Fellowship are due March 1, 2023.

Please follow these application guidelines:

I. Prepare the following materials:

• A current CV;
• A cover letter including a brief description of your dissertation (up to 5 double-spaced pages);
• A copy of your transcripts. Transcripts should cover all graduate work and include evidence of recently-completed work.

II. Fill out the following online application form, including the above three attachments, and submit the complete application form.

III. Arrange for two (2) letters of recommendation from members of your dissertation committee to be sent directly to Shorenstein APARC.  
Please note: the faculty/advisors should email their letters directly to Kristen Lee at kllee@stanford.edu.

We will consider only applications that include all supporting documents. The Center will give priority to candidates who are prepared to finish their degree by the end of the 2023-24 academic year.

For more information, visit the APARC Predoctoral Fellowship Page >

APARC Diversity Grant

APARC's diversity grant supports Stanford undergraduate and graduate students from underrepresented minorities who are interested in contemporary Asia. The Center will award a maximum of $10,000 per grant to support a wide range of research expenses.

The Center is reviewing grant applications on a rolling basis.  
To be considered for the grant, please follow these application guidelines:

I. Prepare the following materials:

• A statement describing the proposed research activity or project (no more than three pages);
• A current CV;
• An itemized budget request explaining research expense needs.

II. Fill out the following online application form, including the above three attachments, and submit the complete application form.

III. Arrange for a letter of recommendation from a faculty to be sent directly to APARC.  

Please note: the faculty members should email their letters directly to Kristen Lee at kllee@stanford.edu.

For more information, visit the APARC Diversity Grant page >

The Walter H. Shorenstein Asia-Pacific Research Center (APARC) is pleased to invite applications for a suite of fellowships in contemporary Asia studies to begin fall quarter 2023.

The Center offers postdoctoral fellowships that promote multidisciplinary research on contemporary Japan and contemporary Asia broadly defined, inaugural postdoctoral fellowships and visiting scholar positions as part of the newly launched Stanford Next Asia Policy Lab, and a fellowship for experts on Southeast Asia. Learn more about each opportunity and its eligibility and specific application requirements:

Postdoctoral Fellowship on Contemporary Japan

Hosted by the Japan Program at APARC, the fellowship supports research on contemporary Japan in a broad range of disciplines including political science, economics, sociology, law, policy studies, and international relations. Appointments are for one year beginning in fall quarter 2023. The application deadline is December 1, 2022.
 

The Korea Program at Stanford's Walter H. Shorenstein Asia-Pacific Research Center (APARC) will mark its 20-year anniversary with a conference focused on North Korea’s geopolitics and South Korea’s pop culture wave (Hallyu), two aspects of Korea that continue to intrigue the public. Exploring how to translate this public attention into an increased academic interest in Korea, the conference will be headlined by Ban Ki-moon, former United Nations Secretary-General, and Soo-Man Lee, Founder and Chief Producer of SM Entertainment, who will join a lineup of speakers including SUHO, leader of K-pop group EXO. The two-day event will take place on May 19 and May 20, 2022, at Stanford’s Bechtel Conference Center, and is free and open to the public.

Breaking with the format of a traditional academic conference, the event will bring together scholars and experts to envision new horizons for the field of Korean Studies. It will include panel discussions on issues such as security on the Korean peninsula, North Korean human rights, U.S.-DPRK relations, and the rising global popularity of South Korea’s soft power, with a focus on K-dramas and K-pop. Scholars from Stanford and other prestigious North American universities will join on-stage conversations with leading practitioners including Joohee Cho, Seoul Bureau Chief at ABC News, and Angela Killoren, CEO of CJ ENM America, as well as government officials including Kim Sook, the former South Korean Ambassador to the UN, and Joon-woo Park, the former South Korean Ambassador to the EU, both former visiting fellows at the Korea Program.

Kim Hyong-O, the former speaker of South Korea’s National Assembly as well as a Korea Program alum, and Geun Lee, the president of the Korea Foundation, will deliver remarks at a private dinner event, which will recognize major donors and supporters of the Program.

“We are delighted to mark the twentieth anniversary of the Korea Program with such an outstanding lineup of speakers,” says Gi-Wook Shin, William J. Perry Professor of Contemporary Korea at Stanford and the Program’s founding director. “For the past two decades, the Program has produced exceptional research on pressing issues, fostered connection between scholars and policymakers, and nurtured numerous students,” Shin notes. These accomplishments will be on display in the Korea Program’s new digital archives, which will be unveiled at the conference.

The event will also feature previews of two brand new documentaries, one on K-pop and the other on North Korean human rights, directed by Hark Joon Lee. “It is our hope that these documentaries will deepen global understanding of these issues and be used to help teach the next generation of students about Korea,” says Shin, who provided input on the films along with his research team at the Korea Program.

“We are incredibly grateful to those who have helped the Korea Program thrive over the past two decades,” notes Shin. “This conference will be an opportunity to share our thanks and reflect on our achievements while looking forward to the Program’s future.”

For conference registration, as well as the full agenda and speaker list, please visit the event page. Registration will open on Monday, May 2, 2022, at 9:00 a.m. PDT.

The conference will be live-streamed on APARC's YouTube channel.

About the Korea Program

The Korea Program at Stanford’s Shorenstein Asia-Pacific Research Center is a West Coast hub of scholarship on contemporary Korea and the issues shaping the future of the Korean Peninsula and U.S.-Korea relations. Our work examines these topics from regional and comparative perspectives through cultural, political, and economic lenses. We train and support emerging Korea scholars and convene experts from academia, government, business, and civil society for dialogue, research, and publishing activities that inform policymakers in the United States and Korea and strengthen the bonds between the two countries. For more information, visit our website.

Media Advisory and Press Contact

Journalists interested in covering the conference should contact Shorenstein APARC’s Associate Director for Communications and External Relations Noa Ronkin at noa.ronkin@stanford.edu by May 17 at 9:00 a.m. PT to register. At the venue, they will be required to present a press credential from an established news organization. Freelance reporters should email a letter from the news organization for which they work to Noa Ronkin by the May 17 deadline. The press area is limited and press seating is not guaranteed.

The Shorenstein APARC Predoctoral Fellowship supports Stanford students working within a broad range of topics related to contemporary Asia. APARC is now accepting applications for the 2022-23 Predoctoral Fellowship. Up to three fellowships are available to Ph.D. candidates who have completed all fieldwork and are nearing the completion of their dissertation. Applications are due by April 15, 2022.

The Center will give priority to candidates who are prepared to finish their degree by the end of the 2022-23 academic year.

This opportunity is open to current Stanford students only.

APARC offers a stipend of $37,230 for the 2022-23 academic year, plus Stanford's Terminal Graduate Registration (TGR) fee for three quarters. We expect fellows to remain in residence at the Center throughout the year and to participate in Center activities.