The WEF ranks countries on human capital development

The impact of workforce development is highlighted in a recent report released by the World Economic Forum in collaboration with Mercer.  The first-ever World Economic Forum’s (WEF) Human Capital Index ranks countries on their success in developing human capital, as measured by four key pillars: Education, Health and Wellness, Workforce and Employment, and Enabling Environment. Thisinteractive tool offers a view of all 122 countries and their ranking. Take a look at this video for a quick summary.

While Canada outranked the United States overall, ranking 10th and 17th respectively, it falls short when looking specifically at the Workforce and Employment measure (15th vs. 4th respectively). This category specifically examines labour force participation to measure the number of people gaining work experience with indicators of the level or quality of experience gained.

Talent is an invaluable driver of economic growth, so ensuring people are healthy, educated, engaged and empowered makes good business sense. Perhaps it’s time to turn our attention to those countries that seem to be getting it right. Switzerland ranked number 1, followed by Finland and Singapore, all offering some valuable lessons learned and promising practices worth exploring. At a time when skills shortages, a talent mismatch, and calls for increased productivity are common discussions in boardrooms and classrooms alike, this research adds to the business case for strategic workforce planning by businesses, communities, and all levels of government.

This post originally appeared in TINAN 51Subscribe to TINAN to get the latest economic development news and resources.