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I’m not a CIPD member, working rather in another part of the forest as it were, but very much in sympathy, so it was a pleasure to read the recent CIPD report Human capital reporting: What information counts in the City?
When you think of publishing, what do you think of? Books, journals, brochures, newspapers, blogs, even tweets. How about company reports? Those now 100 + pages of financial, green, CEO introduced round ups that companies put out – publish – on an obscure place on their websites every year, and which no one really reads?
Poorly managed conflict costs UK business more than £24 billion every year - an inexcusably high amount, recession or no recession. What many organisations fail to see is that conflict can be prevented (as well as resolved) and managed in a way that has a direct bottom line impact.
Raj Thamotheram, Senior Advisor at AXA Investment Managers, presented the investor perspective on Human Capital reporting; Chris Hodge, Head of Corporate Governance at Financial Reporting Council, discussed the aim and impact of the new Stewardship Code at the second meeting of Accounting for People 2.0.
When you breeze – whatever that means – trudge Lurch like or sashay like a starlet on a red carpet into the office, preening or drooling over your tea and turning on your PC looking around, what do you see?
So there we were. Inspired by HPA and HubCap's CEO Dr Michael Reddy, who’d taken the remarkable step of meeting everyone beforehand, on the plush oversized cow-hide chairs of the Soho Hotel’s private cinema, over 25 business leaders all drawn together by a higher purpose: to change UK business reporting forever.
What have you got that is valuable that is not included in the balance sheet?
How many of your planning assumptions are based on non-financials?
What impact do you think investors broadly have on human capital management in corporate Britain?
How compatible is the Tata model with the socio-economic and cultural reality of Western Countries?
Are current attitudes in the UK more favourable towards regulatory reform than in 2005?
Human Capital can be a difficult subject for HR. It speaks in a foreign pseudo-scientific language of KPIs and metrics and finance and psychology. Like those children’s breakfast cereals, it now comes in many new varieties – social capital, moral capital, creative capital, aspirational capital, emotional capital...
With the launch of Accounting for People 2.0, we’ve been busy scouring the web for the best articles, essays and ideas on human resource accounting. So far, so good. Human resource accounting; human asset reporting; human capital reporting; extended narrative reporting; intangible asset reporting; people reporting – you can pick your term.