Recent research published by McKinsey identified a number of tough, complex and risky choices facing business leaders. A crucial question is how executives can better understand the specific assets and distinctive capabilities their companies possess, align them and ultimately leverage performance?
To address this, the three professional bodies representing the HR and finance professions, and management – the CIPD, Chartered Institute of Management Accountants (CIMA) and Chartered Management Institute (CMI), together with the RSA, are collaborating on a major talent management research and engagement project called Valuing your Talent. The work, which is being supported and sponsored by the UK Commission for Employment and Skills (UKCES), is designed to help employers understand how to measure the impact their people have on the performance of their organisation and as a result make better people management and workforce investment decisions.
This report outlines the objectives of the VyT project and the principles guiding the work. It explores how better to understand the specific capabilities of your workforce and maximise these attributes to drive overall business performance. It also introduces the first steps organisations need to take in human capital reporting to show human capital assets as tangible items for their balance sheet.
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