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first_img Comments are closed. HCM vital for business successOn 6 Apr 2004 in Personnel Today Previous Article Next Article Duncan Brown, assistant director-general at the Chartered Institute ofPersonnel and Development, explains why human capital management should top thebusiness agenda.At the Amsterdam summit, I gave an overview on the Chartered Institute ofPersonnel and Development’s (CIPD) extensive work on human capital. It iscertainly an area of growing interest, and it was the fourth such presentationthat I have made this year already. The likely future requirement of UK companies to report on their humancapital in annual reports and accounts is – at last – galvanising moreconcerted attention, and, hopefully, action. The event largely consisted of illustrations of the application of Kaplanand Norton’s original methodology, now detailed further in terms of itsapplication to the so-called ‘intangible assets’ – of which people are the mostsignificant. Some may find this specific application a little over-engineered for their tastes,although the case studies shed a lot of light on the broader process ofagreeing how to best leverage staff for competitive advantage, and how tomeasure and achieve it. The CIPD is currently drafting a free guide on how to go about human capitalreporting with a taskforce of industry experts. It aims to give a broader viewof the measurement process and how to go about it, and should be available bymid 2004. But whatever methodology or approach you prefer, the taskforce members havereinforced that the huge potential value that people can add to an organisationcan only be realised if you measure and manage that value effectively. HRprofessionals need to play a leading role in doing this. The message is: do it proactively yourself to add value to your people, yourbusiness and your function, rather than waiting to have it imposed on you fromthe outside. www.cipd.co.uk Related posts:No related photos.last_img read more