Human Capital Report 2016

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            Human Capital Report 2016
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● A worldwide Human Capital Index report was released on 28th June 2016, by the Geneva-based World Economic Forum.
● It was released in Davos, a town in Switzerland at the Annual Meeting of New Champions - also known as the 'Summer Davos' summit.
● It ranked India at the 105th position out of 130 countries that were evaluated; Finland stood 1st.

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29 Jun 2016
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Global Human Capital Index released
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● A worldwide Human Capital Index report was released on 28th June 2016, by the Geneva-based World Economic Forum.
● It was released in Davos, a town in Switzerland at the Annual Meeting of New Champions - also known as the 'Summer Davos' summit.
● It ranked India at the 105th position out of 130 countries that were evaluated; Finland stood 1st.

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      About
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The Human Capital Index Report
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● The Human Capital Index uses data to measure each countries' capability to expand and make the best use of their human capital.
● Development of a country and deployment of human capital in a country is evaluated by this index over a period of time.
● It provides holistic information on the talent base of a country, education levels of the employed, unemployed etc.

The World Economic Forum
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● A Swiss, non-profit organisation, the World Economic Forum (WEF) is based in Cologny, Geneva.
● It's mission is cited as "committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas."
● The Economic Forum is best known for the five-day meetings it conducts in winter in Davos.

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      Nation
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India's position in the Human Capital Index 2016
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● Against a global average of 65%, India utilises 57% of it's human capital endowment.
● Youth literacy in India stands at a 90% low, largely responsible for it's 105th rank.
● However, India fared better for the quality of education it provides across different age groups.
● In India, quality of education staff, staff training, finding skilled talent easily land globally at 39, 46 and 49 respectively.

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       FACT
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Indian graduates
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● India accommodates the second largest number of graduates in STEM (Science, Technology, Engineering and Mathematics) subjects, after China with 2.5 million graduates.

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   Statistics
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Country-wise ranking of the Human Capital Index
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● A total of 19 countries worldwide have tapped 80% or more of their human capital potential.
● 40% of the countries' score lies between 70%-80%, 38 countries score between 60%-70% and 28 countries score between 50%-60%
● The Human Capital Index places 5 countries below 50% in 2016.
● Overall, 65% of the world's talent is being optimised through education and skills development.

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       FACT
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Rethinking Human Capital
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● Klaus Schwab, Founder and Executive Chairman of the WEF said, "Today's transition to the Fourth Industrial Revolution, combined with a crisis of governance, creates an urgent need for the world's educators and employers to fundamentally rethink human capital through dialogue and partnerships."

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