You may recall that, when we started our joint venture with the American Institute of Certified Public Accountants two years ago, we published a report on the value of human capital. "Rebooting business: valuing the human dimension" revealed a shift in focus by business leaders. From our extensive consultations, we found that organisations rated the human dimension--customer and supplier relationships, talent development and intellectual capital--on a par with financial factors as drivers of growth.
Since then we've been addressing various facets of the human dimension--most recently, relationships and talent. After an 18-month research project, CIMA recently joined forces with think-tank Tomorrow's Company, law firm Linklaters, the Chartered Institute of Personnel and Development (CIPD) and KPMG to publish a report on how to unlock value in business relationships (bit.ly/TomorrowsRelationships). Such relationships are a crucial element of any organisation's business model. Collectively, we believe that organisations need to change how they think and act when it comes to building bonds both internally and externally.
The relationships that influence today's businesses are multiplying--and the value implicit in this development must not be underestimated.
Last month we published the results of a second collaboration, this time with the CIPD, the Chartered Management Institute and the Royal Society for the Encouragement of Arts, Manufactures and Commerce. This report was designed to help employers better understand how their employees affect organisational performance and thereby make better decisions when it comes to investing in people. "Valuing your talent: a framework for human capital strategy", written by Anthony Hesketh, senior lecturer at Lancaster University Management School, starts at the point where the existing research ends. It focuses on corporate "capacities"...