The Chartered Management Institute has announced that it will be working with the UK Commission for Employment and Skills, the Chartered Institute of Personnel & Development, the Chartered Institute of Management Accountants, Investors in People and the Royal Society for the Arts to help organisations measure staff impact upon business performance and devise techniques that will help them to increase workforce skills and productivity.
The programme, called Valuing Your Talent, follows a recent Organisation for Economic Co-operation and Development survey that demonstrated the importance of improving the skills levels of UK employees. Its focus will be to develop practical tools and ways to measure performance and human resources practices.
The project’s end goal is to provide a framework that measures human capital, promotes good practice staff management initiatives and encourages employers to be strategic when it comes to workforce development. To start with, each of the bodies involved will be asking their memberships, other professional organisations, practitioners and investment representatives for their opinions. They will also be using previous research and unearthing current practice to provide a full picture of the state of employee performance and how it can be improved.
The work done within the project will take advantage of social media and will be promoted and shared within a web hub, which has already been launched. It already contains a lot of information on human capital measurement so interested HR professionals and businesses can access advice right away. It includes recent research undertaken by Dr Anthony Hesketh for the CIPD, asking why there is such little agreement on how to measure the value that employees bring to the organisations for which they work.
You can read the full article and find the web hub link here: HR, accountancy and management professions announce major collaboration to help better value and measure impact of people on organisational performance.