The global 15-24 age group is largely being failed when it comes to preparing them with relevant skills for a successful education-to-employment transition, according to the World Economic Forum's (WEF) Human Capital Report 2016 published Tuesday.

The report showed that only 66 percent of the human capital potential of this age group has been harnessed.

Rich and poor countries alike are missing huge opportunities when it comes to making the most of their populations' economic potential, with only 65 percent on average of the world's talent being optimized during all stages of the working life time.

Out of 130 nations, 19 have tapped 80 percent of their human capital potential or more. At the top, Norway and Switzerland are nearly tied and gaining ground on Finland's top position. All three are effectively utilizing about 85 percent of their full human capital potential.

"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," said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.

"The adaptation of educational institutions, labor market policy and workplaces are this crucial to growth, equality and social stability," he added. Endit

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