| The survey, conducted by Investors in People amongst organisations working with the Standard, also found that most organisations (60%) are already measuring their human capital in some way. In addition, interest in HCM has grown as the issue has become more prominent: over half (51%) of those measuring human capital have started to do so in the last two years; 31% said they have done so for over five years.
The majority of those surveyed (57%) also admitted that they do not currently publish any information about their employees publicly, for example in a company report or on a website. A lack of time or resources was cited as the primary reason for not reporting in this way, followed by worries about disclosing commercially sensitive data, and a perceived lack of relevant information.
Commenting on the survey, Ruth Spellman, Chief Executive of Investors in People UK said,
"This survey suggests that measurement of human capital is becoming more and more common, but it also shows that there is some way to go. A majority of organisations are now collecting and analysing employee information to help them assess the value employees are delivering. Encouragingly, the remainder show some interest in following this lead.
"It's also interesting to see that one in four managers supports mandatory reporting on human capital. However, employers should view HCM as much more than just a reporting mechanism as it can help employers identify strengths and weaknesses in the way they equip and support employees to make the contribution expected of them. It's a great way of aligning people development with business performance; employers that don't make this connection will fail to get the real business benefits HCM can deliver."
Investors in People has helped establish the Human Capital Management Standards Group, a cross-industry group seeking to progress work on the connection between human capital investment and business performance. Its aim is to establish a set of universal human capital metrics that can be used for external comparison of organisations, whatever their size or sector.
Notes to editors
The survey took place in May 2006 via a questionnaire of approximately 400 committed and recognised organisations who work with the Investors in People Standard.
Human Capital Management Standards Group Members
|
Tim Melville-Ross |
Chairman |
Former Chairman Investors in People UK |
|
Ruth Spellman |
Chief Executive |
Investors in People UK |
|
Richard Donkin |
Columnist |
Financial Times |
|
Duncan Brown |
Deputy Director General |
Chartered Institute of Personnel and Development |
|
John Cridland |
Deputy Director General |
Confederation of British Industry |
|
Greg Aitken |
Head of HR Research & Measurement |
Royal Bank of Scotland |
|
Richard Phelps |
Consultant |
PWC |
|
Gary Browning |
Chief Executive |
Penna Consulting |
|
Chris Bones |
Principal |
Henley Management School |
|
John Wrighthouse |
Head of Planning & Development |
Nationwide |
|
Sabri Challah |
Partner |
Deloittes |
|
Alan Matcham |
Director |
Oracle Corporation |
|
Steve Bevan |
Director of Research |
The Work Foundation |
|
Petra Cook |
Head of Policy |
Chartered Management Institute |
|
Professor Harry Scarborough |
Principal |
Warwick Business School |
Human Capital Management Standards Group Associate Members
|
Chris Nutt |
Chairman |
Fissing |
|
Nick Robins |
Head of SRI Funds |
Henderson Global Investments |
|
David Fairhurst |
Vice President |
McDonalds |
|
Sir Anthony Cleaver |
Chairman |
Council for Excellence in Leadership & Management |
|
Chris Litheland |
Human Resources Director |
SAS Computing |
|
Neil Roden |
Group Director, Human Resources |
Royal Bank of Scotland |
|
Vicky Wright |
Senior Consultant |
Watson Wyatt |
|
John Ingham |
Consultant |
PENNA |
|
Tony Watson |
Chief Executive |
Hermes Fund Management |
|
Mervyn Davies CBE |
Chief Executive |
Standard Chartered Bank |
|
Peter Montagnon |
Head of Investment Affairs |
Association of British Insurers |
|
Lord Leitch |
Chairman |
HM Treasury Review of Skills |
|
Stephen O Keefe |
Director |
Financial Services Sector Council |
|
Laurie Bassi |
CEO |
McBassi & Company Inc |
Investors in People:
- The Investors in People Standard provides a framework for improving business performance and competitiveness through good practice in human resource development.
- An organisation that has achieved the Standard has been successful in adopting and maintaining its three fundamental principles: Plan - developing strategies to improve the performance of the organisation, from business goals to leadership strategies; Do - implementing those strategies, taking action to improve the performance of the organisation; Review - evaluating and adjusting those strategies, measuring their impact on the performance of the organisation.
- The Investors in People Standard is promoted and developed by Investors in People UK - a public body whose main stakeholder is the Department for Education and Skills.
- The Investors in People Standard is delivered by a partner network:
1. In England, the network of Investors in People Regional Quality Centres.
2. In Scotland, contact Scottish Enterprise (SE) or Highlands and Islands Enterprise (HIE) for details of the Investors in People Standard.
3. In Wales, the Business Skills Delivery Team at the Department for Education, Lifelong Learning and Skills, Welsh Assembly Government.
4. In Northern Ireland, the Department for Employment of Learning delivers the Investors in People Standard.
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