CEOs often state "our people are our most valuable asset and source of value creation". How can they measure and share this vital information?

“Who do you know who …?”

… works in a larger organisation …

… where they are encountering problems with …

Compliance and ethics

… getting the right measurements and procedures to help secure compliance and ethical practice.

… reducing the potential for organisational scandals

… gaining Government approval for compliance and ethics procedures and measures

… functioning effectively and ethically in attracting employees

… having a positive advantage over others and being clearly a premium player

… attracting investors who would be interested in a compliant organisation

… improving employee engagement and an environment where managers and employees want to come to work.

Diversity

… becoming more innovative and more financially successful

… raising the company reputation as an employer of choice, both amongst current employees and future employees, leading to improved performance in attraction and retention.

… saving money and time on recruitment and retention activities.

… encouraging the richness of the community where the organisation comes together and reflects the demographics of a location

… removing unconscious bias and is benefiting from informing stakeholders that the organisation hires people based on competence

… creating a more welcoming and accepting environment for everyone, leading to better performance.

… promoting all employees within an organisation and are not restricting them by considerations of bias or prejudice.

Leadership

… enabling their leaders to become successful and sustainable

… enabling their leaders to become agile, accountable, informed, transparent and honest.

… enabling their leaders to communicate at all levels to gain and maintain commitment and improved performance

… creating and nurturing effective relationships with stakeholders

… managing effectively across generations and cultures in a diverse workforce

… empowering the team to be as good as they can be, bringing performance benefits and driving loyalty and commitment

… developing and championing great teams

… bringing credibility to the employer brand, and attracting and retaining great talent

… embracing transparency that is critical

… performing in a way that is truly visible and providing role models for learning

… providing learning opportunities for their leaders

 … bringing alignment, which in turn creates greater efficiency and effectiveness

Organisational culture

… having a well-developed, engaging culture that brings sustained increases in productivity and performance

… encouraging self-driven continuous improvement

… continually improving performance where leaders work with all employees

… helping people take personal responsibility for costs and expenditure.

… creating across-the-board improvement

… recruiting the right audience through an employer brand.

… encouraging peer recommendation, where existing employees urge their friends to join the organisation

… insisting on high morale, closely connected to trust, purpose, loyalty, pride, and faith in the leadership

Health, safety, and wellbeing

… protecting workers from harm, promoting worker health, and supporting the ability of all workers to engage in continuous work

… providing work that is healthy, safe and well-designed, and good for both physical and mental wellbeing

… carrying out hazard assessment and effective risk management

.. giving health and well-being programmes that address the health risks of workers within the organisation, leading to increased staff engagement, reduced absence, lower turnover, and higher productivity

… preventing illness and injury, by not exposing hazards or risks, and not promoting health and well-being

Productivity

… doing the right things well – first time

… becoming more efficient, where either less effort is required to produce the same amount of output, or more can be done by the same people in the same amount of time

… maximising the use of resources and increasing productivity

 … getting staffing right and people working effectively 

… developing good systems that identify areas where activities or roles overlap.

… ensuring that the people are challenged but not stressed.

… helping people to work more effectively, resulting in people taking responsibility for workloads and resources

… encouraging better time management, leading to more organised, relaxed and efficient employees who can focus on their tasks

Recruitment, mobility, and turnover

… undertaking fast-moving or effective recruitment, resulting in a bottleneck to growth

… having cumbersome processes and over-stretched teams or unrealistic expectations, making the job of filling vacancies longer and more costly

… giving a poor candidate experience, leading to a negative effect on employer brand

… having a streamlined, efficient recruitment processes that delivers higher-quality, more engaged people, and provides a competitive advantage that directly impacts on the bottom line

… poor or slow recruitment, increasing attrition rates, with the risk of stress and disengagement amongst current workforce, and leading to high labour turnover, resulting in lower productivity and poor morale

… poor mobility, resulting in stagnation and poor performance.

Skills and capability

… finding it difficult to hire people with the knowledge, skills, training, and attitudes that they need

… developing the five soft/transferable skills that workers say are most important when it comes to getting hired and being successful in the workplace:

·        ability and willingness to learn new skills of personal agility

·        critical thinking and problem solving 

·        collaboration and team-work 

·        interpersonal communication 

·        ability to analyse, evaluate and synthesise information

… responding quickly when markets, technology and consumer demand fluctuates

… shifting the focus from competency to capacity

… developing leadership capability.

Succession Planning

… identifying and developing the talent that will fill critical roles in the future, protecting the organisation in times of crisis and improving organisational performance for the future.

… attracting and retaining the best people

… identifying key roles, and delivering the right people with the right skills, capabilities, and experiences, in the right place at the right time.

… denying that the number of people in leadership roles who plan to retire in the next few years is higher than the number of people entering the workforce

… having effective succession planning, and managing as a deliberate choice, not as a reaction to an exit crisis

… executive search, which can be expensive.

… allowing skills to be developed in preparation for good performance in new positions without loss of productivity or performance

… having succession plans that also form part of a structured organisation continuity plan

Workforce Availability

… knowing the availability of the workforce, which is key to building a prosperous future for the organisation and its employees

… being able to swiftly manage the overall mix of the workforce, which is a critical part of organisation strategy and plays a key role in future planning

… scenario planning, which is essential in order to avoid reactive responses

 … flexible working, homeworking, and job-sharing, embracing different schedules and responsibilities, allowing working with the best people

… outsourcing, offshoring, and subcontracting

… identifying obsolete functions and redistributing staff accordingly, bringing great results

… ensuring employee satisfaction by offering different working arrangements, learning and development, and other benefits leading to better performance

“Right now, HR work is hidden in the field of intangibles. It is very difficult to measure. There is no (widely accepted) direct link to economic results. This is going to change. ISO 30414 provides definitions, frameworks and rules around people related data/information. Stakeholders will list them as intangibles alongside other relevant performance data on companies. As a result, assessing whether a company is set up for sustainable growth becomes much more valid. This disruption also provides a massive opportunity for HR professionals as they understand HR practices, and how HR systems capture and crunch data”

World Economic Forum

With traditional/today’s human capital reporting, HR professionals are unable to deal with the above challenges let alone answering pertinent questions related to acquisition and management of talent. People Edge Consulting have partnered with HCM Metrics to help organisations get ISO 30414:2018 Certification which will enable them to manage, measure and predict workforce performance and productivity. For more information and guidance on how we can help you embark on the ISO 30414: 2018 certification journey, please reach us at [email protected]