It's exciting to see so much interest in the measurement of human capital. We look forward to building a valuable and supportive community where business leaders, HR practitioners and investors can come together.
MARINA DEL REY, Calif. (PRWEB) December 19, 2018
The Human Capital Management Institute, a pioneer in the financial measurement of human capital ROI, has launched the Human Capital Value and Reporting (HCVR) online community to further the understanding of investments in human capital and their business impact.
HCVR will serve as the "go to" resource for HR and business leaders, boards and the investment community to seek and share insights on how best to measure, quantify, evaluate and report on an organization's human capital. It will feature original and curated expert content, a community forum for sharing answers to need-to-know questions, and invitation-only virtual and in-person events. While there is no fee to join, membership is reserved for HR and business executives, board members and investment professionals.
The establishment of HCVR comes simultaneously with the International Organization for Standardization (ISO) announcing new global standards for human capital reporting. The new standards will accelerate internal and external demand for education about human capital performance metrics as companies evaluate how best to measure and report on the impact of the workforce on business results.
HCVR will play a key role in helping community members get prepared for stakeholder questions on workforce value and risk. Sample questions that members will be able to answer through the HCVR community include:
- What are the most critical human capital metrics to understand and what stories do they tell about an organization?
- What is an organization's Total Cost of Workforce, and where should it invest or cut?
- Where is an organization's greatest talent risk, and when should it build, buy or rent talent?
- Which metrics should an organization track internally, and which should it report externally?
- How can an organization build a process to become compliant with the ISO standards?
The new ISO standards are driven in part by demands from investors for reporting regarding organizations' human capital investments. The Human Capital Management Coalition (HCM), a group of investors with $2.8 trillion in assets under management, is a supporter of the new standards. And BlackRock, a leading global investment management corporation, included human capital management as one of its key engagement priorities for 2017-18.
HCMI founder and CEO Jeff Higgins calls the ISO standards a massive step forward.
"The new standards are the missing link in business and financial reporting, accountability and performance," he said. "While CEOs state, 'Our people are our most valuable asset,' organizations have typically measured and managed people as a short-term cost to be minimized instead of as an investment to grow for competitive advantage and business value."
Higgins added that there's been tremendous response regarding HCVR. "It's exciting to see so much interest in the measurement of human capital. We look forward to building a valuable and supportive community where business leaders, HR practitioners and investors can come together."
To learn more about HCVR or to join, visit http://www.humancapitalreporting.org.
The Human Capital Management Institute (HCMI) is a leading workforce analytics software and services firm based in Los Angeles with affiliates in London and Malaysia. HCMI was founded on the belief that organizations must find better ways of measuring the business impact of human capital investments. HCMI developed AI-powered SOLVETM workforce intelligence software to fundamentally change the way organizations make decisions about their workforce, making human capital measurement and information as integral to business decision making as financial information is today. Follow HCMI on Twitter at https://twitter.com/hcmi/.