Federal Human Capital Act of 2001

Federal Human Capital Act of 2001 - Chief Human Capital Officers Act of 2001 - Places an agency Chief Human Capital Officer in specified Federal agencies. Requires such Officers to: (1) set the workforce development strategy of the agency; (2) assess current workforce characteristics and future needs based on the agency's strategic plan and mission; (3) align human resources policies with organization mission, strategic goals, and performance outcomes; (4) develop and advocate a culture of continuous learning to attract and retain employees with superior abilities; (5) identify best practices and benchmarking studies; and (6) create systems for measuring intellectual capital and identifying links of that capital to organizational performance and growth.

Establishes a Chief Human Capital Officers Council.

Requires a study on the feasibility and desirability of developing human capital metrics for use by the Federal Government.

Permits certain agencies to evaluate applicants for competitive service positions according to a quality category rating system rather than numerical ratings. Permits appointment into the competitive service without competition under specified conditions.

Authorizes voluntary separation incentive payments. Revises voluntary early retirement criteria. Provides for phased retirement for certain specialized positions. Authorizes the use of a streamlined critical pay authority. Requires expedited approval for appointments to positions classified above GS-15.

Reduces the notification period for reductions in grade or removal for unacceptable performance.

Requires a study on the discipline and termination process.

Authorizes an agency to assign a senior executive to a private entity to perform work of mutual concern.

Repeals the recertification requirements for senior executives. Permits the waiver of certain qualifications and other requirements for specially qualified scientists and professionals and persons in critical positions.

Revises agency training programs to require: (1) their evaluation and modification; (2) the hiring of a training officer; (3) establishment of a comprehensive management succession program; and (4) manager training on unacceptable performance issues.

Revises academic degree training criteria. Allows accrual of leave for certain qualified non-Federal service.

Amends the David L. Boren National Security Education Act of 1991 to expand: (1) the national security education program to include emphasis on the quality of teaching and learning in fields critical to national interests; and (2) the National Security Education Trust Fund to include repayment of student loans and payment for professional development instruction in critical national interest fields.