"People are our most important assets" is a common saying in organisations—but can you prove it? This ground-breaking book sets out to help you answer that question. We have already moved into a completely new era, where the intellectual capital of organisations is far more important than the traditional sums in the balance sheet. It is value that matters. And it is only people who deliver and create value for the stakeholders of any organisation, private or public.
The problem is that despite this knowledge we still live in an accountancy world which looks back to the last century for its definitions of assets, liabilities and capital. And what we can't measure, we can't manage.
In The Human Value of the Enterprise Andrew Mayo confronts the challenge to today's managers—finding a way to measure (and account for) a business's most crucial resource, its human value. He proposes sound quantitative ways for measuring and tracking three fundamental areas: the intrinsic value of people as individuals, their contribution to both financial and non-financial added value, and the environment in which they make that contribution. Measures need to be integrated fully into the organisation's performance monitoring system.
The Human Value of the Enterprise will help you select those measures that are strategically important, using the principle of "cause and effect chains". It is full of practical examples and tools, and shows how value-based thinking is transferred into human resource processes and systems, learning and knowledge management, and mergers and acquisitions.
"Masterfully synthesizes theory, research and practices on measuring human capital."
—David Ulrich, co-author of The Human Scorecard
"Few people are better qualified to write on this topical and important issue. Mayo's contribution to our understanding of human capital and sustainable business success will be invaluable to all those who are looking for rigorous argument and evidence to back their efforts to get human resources issues to the top of the board agenda."
—Philip Sadler CBE, Vice President, Ashridge Management College
Andrew Mayo is a well-known international consultant, a Programme Director at London Business School and Professor of Human Capital Management at Middlesex University Business School, having spent nearly 30 years in a variety of senior roles in large organisations. He is also the author of Managing Careers, The Power of Learning—described by The Director as "the best book on a learning organisation"—and Creating a Training and Development Strategy.
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