September 14, 2017

Finland places second in human capital

"All too often economies already possess the required talent but fail to deploy it," the report notes.
"All too often economies already possess the required talent but fail to deploy it," the report notes.
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Finland has been ranked right behind top-performing Norway in the Human Capital Index 2017, which measures 130 countries in terms of human capital development.

The report, by the World Economic Forum, compared countries regarding capacity, deployment, development and knowhow. The countries are also measured across age groups.

Finland ranked first in development, second in knowhow and eighth in capacity. In deployment, referring to things such as employment gender gap and labour force participation rate, Finland ranked 68th.

Norway and Finland were followed by Switzerland, the United States and Denmark.

According to the index, 62 per cent of human capital has now been developed globally. Only one-quarter of the studied nations have tapped 70 per cent or more of their people’s human capital.

Head of education, gender and work at the World Economic Forum Saadia Zahidi points out that countries’ strategies for developing human capital should vary according to demographic structure.

“However, every country risks creating lost generations if they fail to adopt a more holistic approach to nurturing talent that takes into account a proactive approach to managing the transition from education to employment and to ongoing learning and skills acquisition,” she notes in a press release.

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