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Global Keynote Address: Dr Wilson Wong, CIPD, UK
1. Human capital standards: Valuing the
people who make organisations work
Wilson Wong
SABPP 2nd National Standards Conference
Johannesburg, SA
28th August 2014
4. Individual human capital
Economic inactivity
Skills and knowledge
obsolescence
Long-term illness
Lack of opportunity
Oppression/ discrimination
Education/ Training
Life/ Work experiences
Networks
Potential to learn & adapt
Economic activity
5. The people value eco-system
Value
creation
Human capital
Deployment and
optimal
utilisation
of capitals Enabling systems
(e.g. governance;
institutional
trustworthiness;
infrastructure)
6. BS76000
• Feb 2014. Human capital standards committee, British
standards Institute
• BS76000: Management system for valuing people in
organizations ̶ Requirements
• BS76000 public comment 1st October for 100 days
• Expected publication 1st June 2015
• Invitation to be part of a wider international
consultation
6
8. Global HR?
Internationalisation
of HR
Competencies/
Body of
Knowledge
Academic and
market
credibility of
the assessment
Internationally
accepted
frameworks
and standards Organisational
measurement:
human capital
metrics
Value to other
business areas
Mont Fluer
Ostrich – in which a negotiated settlement to the crisis in South Africa is not achieved, and the country’s government continues to be non-representative;
Lame Duck – in which a settlement is achieved, but the transition to a new system is slow and indecisive;
Icarus – in which transition is rapid, but the new government unwisely pursues unsustainable, populist economic policies; and
Flight of the Flamingos – in which the government’s policies are sustainable, and the country takes a path of inclusive growth and democracy.
http://futuristablog.com/wp-content/uploads/2013/04/Schermafbeelding-2013-04-21-om-16.00.57.png
ONS: Human capital puts a monetary value on the knowledge, skills, competencies and attributes of a person. All of these factors enable individuals to work, and therefore produce something of economic value.
Human capital interacts with capital and infrastructure to generate value. Integrated Reporting Council 6 Capitals Framework: Financial; Manufactured; Intellectual; Human,; Social; Natural
Developing behavioural metrics?
Curriculum and competency overhaul
Cross recognition: AHRI
Partnerships: CIMA etc.
For global HR competencies – Symposium, crowdsourced