Human Capital Report by WEF. May 19, 2015 September 27, 2015 2 min read admin. World Economic Forum . A number of jobs have been identified as most at-risk of “disappearing” over the next five years largely because of automation. It documents new evidence on trends over time in the HCI, examples of success, and new analytical work on utilization of human capital, as well as a primer on the COVID-19 (coronavirus) pandemic and its potential impact on human capital. The commission has identified various key focus areas to revolutionise to meet the 4IR: energy, water, mining, manufacturing, agriculture, financial services and public administration. The Report encourages companies to consider using as many of the IBC standards as possible in their corporate reports, after screening the standards for materiality. In August 2020 the WEF, in collaboration with Wills Towers Watson, published a framework in a report titled “Human Capital as an Asset: An Accounting Framework for the New World of Work” to assist companies in measuring and accounting for their workforces, including in the wake of COVID-19. Soon after the publication of the Report, the Council of Institutional Investors (CII), a U.S.-based organization, released a statement urging companies to disclose their sustainability performance in line with standardized metrics created in the private sector. Incorporated as a not-for-profit foundation in 1971, and headquartered in Geneva, Switzerland, the Forum is tied to no political, partisan or national interests. Currie, J., Healthy, Wealthy and Wise: Socio-Economic Status, Poor Health in Childhood and Human Capital Development, NBER Working Paper No. In 2020, the risk of a global pandemic became reality, and the World Economic Forum (WEF) report has been warning the world about it since 2006. Within countries, measurement leads to insights into what works and where to target resources. The World Economic Forum publishes a comprehensive series of reports which examine in detail the broad range of global issues it seeks to address with stakeholders as part of its mission of improving the state of the world. In this 90-minute event, government leaders, NGO partners, and innovators delivered showcased policy actions and both public and private sector-led responses to address COVID-19 impacts on human capital. Countries can use it to assess how much income they are foregoing because of HC gaps, and how much faster they can turn these losses into gains if they act now. The Global Gender Gap Report 2020 provides a comprehensive overview of the current state of the global gender gap and of efforts and insights to close it. 14. Check out the updated 2020 Human Capital Index, our videos, visualizations, frequently-asked-questions, and more. Human capital is the driving force of economic growth. Provisional metrics were previously released at the January 2020 meeting in Davos-Klosters in a consultation draft titled “Towards Common Metrics and Consistent Reporting of Sustainable Value Creation.” The Report was the culmination of over a year’s work, reflecting assistance from the WEF, collaboration with the Big Four, and consultations with companies (including non-IBC members), investors, standard-setters, non-governmental organizations (NGOs) and international organizations. The Global Gender Gap Report 2020 provides a comprehensive overview of the current state of the global gender gap and of efforts and insights to close it. According to the IBC, these are the more critically important and established metrics, which are primarily quantitative and already being reported by many firms or can be obtained with reasonable effort. Development of Comprehensive Reporting System. Human capital is the driving force of economic growth. In the latest HDI report, 2020 India is on 129th rank. Embedding human principles into the nature of work--principles such as purpose and meaning, growth and passion, and collaboration and relationships--enables the social enterprise to continually reinvent itself on the back of perpetual disruption. The framework outlines how companies can transition to valuing talent as an asset rather than an as expense. It is found that machines … The vision of the Human Capital Project (HCP) is a world in which all children reach their full potential—growing up well-nourished and ready to learn, attaining real learning in the classroom, and entering the job market as healthy, skilled, and productive adults. The Global Competitiveness Report series has since its first edition aimed to prompt policy-makers beyond short term growth and to aim for long-run prosperity. As a result, anything that undermines the best allocation of talent and impedes the accumulation of human capital may significantly hamper growth. Send us an email at humancapital@worldbank.org. This is a major problem not only for the individual, but also society and the economy. The report called the human … In addition, a number of “Human Capital Champions”—world leaders, thought leaders, celebrities, and others—have signed on to advocate for the next generation. Human Capital Report, WEF. Access a curated list of reports and briefs here. At its meeting in January 2021, the IBC is scheduled to discuss a timeline for broader adoption. This series of webinars promotes direct learning and exchange among the Focal Points, enabling them to share experience and accelerate human capital outcomes. This entry was posted in Economics & Statistics and tagged Financial capital , Human capital , Intellectual capital , Talent , WEF , Willis Towers Watson , World Economic Forum on 02/09/2020 by IESE Library . Metrics and Disclosures. The 2020 report’s findings are: Globally, the average (population-weighted) distance completed to parity is at 68.6%, which is a further improvement since last edition. We must come together as never before – to protect hard-won gains in human capital. The World Economic Forum (WEF) which is an international NGO recently released the third edition of the future of jobs report 2020. consistent with the report the covid-19 and its impacts will disrupt quite 85 million jobs by 2025. These files are available for 174 countries that had sufficient data to calculate an HCI value in September 2020. The HCP aims to protect and invest in people. Four Pillars. The WEF said countries like Singapore, which are digitally advanced, are well placed to manage the impact of Covid-19, in a report released on Dec 16, 2020. Looking for more data? The IBC invites all its members, which includes numerous large corporations, to declare their intention to report on these common standards, and encourages the wider corporate community to join them. We host the following related webpages: About, Case Studies, Country Knowledge Exchanges, Key Reports, and Frequently Asked Questions. La Finlande est le pays qui exploite le mieux les ressources humaines, selon un rapport sur le capital humain publié mercredi par le World Economic Forum (WEF, Forum économique mondial). The World Economic Forum (WEF), based in Cologny, Geneva Canton, Switzerland, is an international NGO, founded on 24 January 1971.The WEF's mission is stated 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". Washington, DC 20433 USA. Recent annual reports published by the WEF include a more detailed breakdown of its financials and indicate revenues of SFr 349 million for the year 2019 with reserves of SFr 310 million and a foundation capital of SFr 34 million. Completed by nearly 9,000 respondents in 119 countries, Deloitte’s 10th annual Global Human Capital Trends report is the largest longitudinal survey of its kind and marks a decade of investigating and understanding how humans can continue to find meaning in work. For purposes of this regime, “material” information is defined as “important, relevant and/or crucial to long-term value creation” and not as a legal or regulatory standard. Attorney Advertising. COVID-19 is taking a tremendous toll on lives and economies. This report, a collaboration between Willis Towers Watson and the World Economic Forum, seeks to provide such a framework. Embedding human principles into the nature of work--principles such as purpose and meaning, growth and passion, and collaboration and relationships--enables the social enterprise to continually reinvent itself on the back of perpetual disruption. Human capital is central to the World Bank Group’s efforts to end extreme poverty by 2030 and raise the incomes of the bottom 40 percent of people in each country. Read this article to know which report is ... Human Capital Report by WEF. 2020 Global Human Capital Trends Report Since 2010, Human Capital Trends tracks the thinking and actions of leading organizations. Story: Investing in Africa’s People Yields Impact, Strengthens Efforts to, Blog: World Health Day: The nursing workforce is critical to COVID-19 (coronavirus) and global health, Publication: Protecting People and Economies in the COVID-19 Era, Blog: Innovation and sound policies are critical to protect people during, For the poorest countries, the full danger from coronavirus is only just coming into view, Video: Building the Foundation of Human Capital, socioeconomically-disaggregated Human Capital Index, Human Capital Project Case Studies Series, Learn more about the Index and the definition of Human Capital, Access the human capital "Knowledge Exchange" series, Human Capital Project : Year 2 Progress Report (October 15, 2020), The Human Capital Index 2020 Update : Human Capital in the Time of COVID-19 (September 16, 2020), Africa Human Capital Plan Year One Progress Report : Game Changers for Investing in Africa's People (June 1, 2020), Annual Meetings 2019: Human Capital Project Ministerial Conclave, Summit: Comitting to Action to Drive Economic Growth, Summit: Investing in the Early Years for Growth and Productivity, Event: Building Human Capital: Shaping the Future of Djibouti’s Youth. Inclusive growth & Development report by WEF. HCM Framework. With the current COVID-19 pandemic, it's even more important to understand why countries should invest in human capital (HC) and protect hard-won gains from being eroded. You can download the full HCI 2020 report here. Home > ESG > World Economic Forum Releases ESG Reporting Metrics and Disclosure Standards. Heads Up | Volume 27, Issue 24 . It aims to shed light on the pandemic-related disruptions in 2020, contextualized within a longer history of economic cycles and the expected outlook for technology adoption, jobs and skills in the next five years. Find out why the World Bank, countries, and partners are coming together to try to close the massive HC gap in the world during COVID-19 and afterwards. In March 2020, the government released a diagnostic report based on the findings of the Presidential Commission on the Fourth Industrial Revolution. The index offers a benchmarking tool to track progress and to reveal best practices across countries and subjects. The report of 2020 (published in 2019) has 153 participating countries. Summary A country’s human capital – its people’s skills, abilities and well-being – is a critical component of its long-term economic success. There are 189 countries participated in this ranking. Learn more by clicking on the topics below. As of September 2020, the HCP counts 78 countries as part of its network of committed governments who have expressed interest to invest in human capital at the highest levels. With the SEC presumably about to adopt enhanced disclosure requirements for human capital next week (see this PubCo post), this new report from the World Economic Forum in Davos, prepared in collaboration with consultant Willis Towers Watson, offers a timely new framework for valuing human capital. The Index measures which countries are best in mobilizing the economic and professional potential of its citizens. During the course of the Project, 21 core metrics, or Stakeholder Capitalism Metrics, were identified. The WEF said countries like Singapore, which are digitally advanced, are well placed to manage the impact of Covid-19, in a report released on Dec 16, 2020. How are countries investing in people? The index measures how much capital each country loses through lack of education and health. 15. Council of Europe, Draft report on fostering social mobility as a contribution to social cohesion, CDCS (4), 2011. According to the Global Gender Gap Report 2020, based on current trends it will take another 99.5 years to attain equality between men and women in every sphere: work, the economy, family, education, and health. Prior results do not guarantee a similar outcome. You too can help those around the world to #InvestinPeople. WEF Human Capital Report highlights need for massive increase in funding for public education 13 September 2017 World Economic Forum’s Human Capital Report demonstrates the need for a massive increase in funding for public education to close the growing gap between rich and poor and build a workforce that is fit for the future. Hybrid working models, employee listening, inspirational resilience, and job redesign will define the now normal, per speakers at a virtual event by the World Economic Forum (WEF) and the WEF Future of Jobs Report 2020. Disclose or Explain. The 2020 special edition is dedicated to elaborating on the priorities for recovery and revival, and considering the building blocks of a transformation towards new economic systems that combine “productivity”, “people” and “planet” … As of January 2021, the HCP has 79 countries participating and takes action in three distinct areas. CII explains that investors desire material information including sector- or industry-related information and support disclosures made with third-party assurances. Lastly, companies are also encouraged to go beyond the common standards and disclose more tailored industry- or sector-specific information. It also increases policy makers’ awareness of the importance of investing in human capital, creating momentum for action. The report is available from the World Economic Forum website. The HCP Network now has 78 countries on board and works to support and connect policy makers as they share experiences and best practices, including during the COVID-19 (coronavirus) pandemic, which is a threat to hard-won human capital gains. 17. This report presents an update to the Human Capital Index (HCI), using the most recent health and education data available as of 2020. Welcome to the Human Capital Project (HCP), a global effort to accelerate more and better investments in people for greater equity and economic growth. To thrive in an environment that can shift from moment to moment, organizations must become distinctly human at the core. Theme: “Trading for Development in Age of Global … The report identifies eleven priorities for policy makers who want to drive this transformation. How governments can drive inclusive recovery. World Economic Forum: Human Capital Report 2017, ranked 18 out of 130 World Economic Forum: Inclusive Development Index 2018, [10] ranked 31 out of 103 countries World Bank : Ease of doing business index 2020, [11] (2019 rankings), ranked 35 out of 190 countries 1818 H Street, N.W. Human capital is increasingly important in the new world of work. India has been placed at a low 103 rank, the lowest among BRICS economies,on the WEF's Global Human Capital Index, which has been topped by Norway.. India also ranks "among the lowest in the world" when it comes to the employment gender gap, but has fared well when it comes to development of skills needed for the future with a rank of 65 out of total 130 countries surveyed. While the COVID-19 pandemic has increased our focus on… In addition, the metrics would be capable of verification and assurance. The World Economic Forum has released a special edition of its renowned Global Competitiveness Report to measure how prepared countries are to rebound from the Covid-induced economic slowdown. INSIGHT REPORT JULY 2020. Credible measurement of education and health outcomes is critical locally, nationally, and globally. Global Gender Gap Report by WEF. After just one year, the plan is well underway, helping African countries build momentum by leveraging investments and policy reforms across key sectors, empowering women, developing solutions tailored to the challenges of fragile and conflict-affected settings, mobilizing technology and innovation, and building knowledge and partnerships. The Index was first published in October 2018 and ranked 157 countries. The World Economic Forum is an independent international organization 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. CII’s members and associate members, which include a wide range of asset managers, asset owners and pension-related entities, collectively have over $40 trillion in assets under management. It is an important component of the Forum's HR 4.0 initiative, an This year’s edition of The World Economic Forum’s Future of Jobs Report 2020 maps the jobs and skills of the future and tracks “the pace of change based on surveys of business leaders and human resource strategists from around the world.” This year’s Global Competitiveness Report is the latest edition of the series launched in 1979 that provides an annual assessment of the drivers of productivity and long-term economic growth. Nonetheless, the Report recognizes that companies may still be subject to reporting requirements (including another standard for materiality) depending on regional regulations or expectations. It describes itself as an independent international organization 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. 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