Human capital proposals open doors for HR

The Accounting for People taskforce report, published this week, provides HR with an opportunity to embed itself further into business and create a more strategic niche.

The report contends that "greater transparency on how value is created through effective people policies and practices will benefit organisations and their stakeholders", and identifies practical measures of the value of human capital management (HCM).

Pointing to "a widespread need for better HCM reporting", the report proposes that:

  • companies include strategically focused human capital data in their annual reports and accounts; and

  • a system of common measures be developed through "an evolutionary approach combining a strategic focus with safeguards to ensure balance, objectivity and progressive improvements in comparability".

    The taskforce also suggests that the Government should consult with leading employers, investors, professional organisations and other relevant stakeholders on a programme to disseminate best practice.

  • Employers called to account over people management policies, Companies to report on diversity,Taskforce hands HR opportunity to shine and DTI welcomes report on making most of people assets IRS Employment Review, Equal Opportunities Review and Personnel Today report.

  • Accounting for people (PDF format) Read the full text of the report, as published on the Accounting for People taskforce website.

  • Kingsmill: HR is not shaping up to its responsibilities Personnel Today editor Jane King interviews Accounting for People taskforce chair Denise Kingsmill.

    Also

    Room on board   Writing in Occupational Health, Clive Pinder profiles the European Health & Performance Management Community, a group of companies seeking to promote health and well-being initiatives as a driver of value in human capital.

    Proving that HR can make a difference   Personnel Today's Michael Millar examines new research from The Work Foundation that demonstrates how HR contributes to the strategic goals of the organisation.

    No accounting for taskforces   Writing in Personnel Today, Stephen Overell argues that the Kingsmill report wasn't worth the wait; it flunked the central question of how to effectively measure people.

    Measuring the return  Writing on personneltoday.com, Peter Cheese of Accenture,looks at the work his company has carried out to prove that workforce performance investment delivers returns.

    Tools you can count on Personnel Today's Keith Rodgers looks at the range of human capital measurement tools available to HR.

    Measure for measure   Ahead of the report, IRS Employment Review talks to Denise Kingsmill and others about human capital management and the challenges it poses for HR.

    Human capital reporting and e-HR   Writing in Personnel Today, Steve Foster of Rebus HR advises on how e-HR systems can aid human capital reporting.


    HR - your number is up   Read IRS Employment Review's earlier report on what employers can expect from the Accounting for People taskforce.

    Holding employers to account   IRS Employment Review examines the CIPD's own proposed framework for human capital reporting.

    Human capital: not just another term for HR  IRS Employment Review outlines Government proposals that companies report regularly on people as well as financial issues and discusses their implications.

    Handling accountability  Personnel Today argues that human capital reporting provides an opportunity for HR to play a more strategic role.

    Reassess your assets   The case against people being an organisation's greatest asset is getting stronger. And, in any case, the time to adopt a less fanciful slogan is long past, writes XpertHR's commentary editor Stephen Overell.

    Getting the measure of human capital, Weighing up the options and The rise of human capital   Personnel Today explores how HR can utilise the concept of HCM