Stop the accountants driving human capital

first_imgRelated posts:No related photos. Comments are closed. Consultationdocuments may come and go, but the latest from the Government’s Accounting forPeople Task Force is probably one of the most important you will ever see.Geta copy of the consultation paper, take time to study it and make sure you givea response in the next six weeks. It is asking for opinions on crucial issues,which directly affect you in your job and could determine the destiny of the HRprofession. Don’t waste this opportunity to get involved. It’ssurprising that a DTI Task Force called Accounting for People only includes oneHR specialist and no representative from the CIPD. Instead, it is made up ofeight academics, consultants, civil servants and business leaders whose job itis to create best practice guidance and a framework for organisations on howthey can meaningfully account for their people. Eventually, this group willmake recommendations on how you should reflect human capital assets in annualreports and accounts. TheGovernment is marching ahead with its own agenda encouraging business todemonstrate good corporate governance. It argues that investors need thisdetail to determine the long-term strength and sustainability of business andthat employees should have it to increase motivation and assist with managingtheir careers.Butwhatever way you look at it, human capital management is never going to be apiece of cake. People are unpredictable, and are not passive assets that can beeasily and reliably counted on a uniform and comparative scale across allindustries. Thecurrent leaders in this such as HR directors at Jaguar, Nationwide, Tesco andB&Q are doing a grand job in sharing their experiences to improve ourunderstanding of the human capital challenge. Their message is clear: what isnot measured is not properly valued and cannot be effectively managed. Buttoo many employers have not made a systematic leap into this arena and evenfewer are reporting externally. Whatever stage you are at, make sure youropinions inform the process because HR should be pivotal to the collation ofthis information. Ifyou have not already got the metrics bug, you need to act swiftly. HR risksbeing out manoeuvred if it does not start measuring and others, including theaccountants, marketers and IT specialists, will take over this role. Byengaging with this consultation process, you will be doing yourself and HR agreat service. There is good news for HR jobseekers this week. The popularCareer Coach column has been revived and on you can send inyour own questions to a panel of experts. Personnel Today has also rebrandedits entire recruitment service. Jobs of the week will be highlighted in themagazine and by keying in, you can now go straight tothe recruitment section of our website where there are hundreds of HR vacanciesand a CV database.   Previous Article Next Article Stop the accountants driving human capitalOn 20 May 2003 in Personnel Todaylast_img read more