CIPD Launch New Framework
The last few weeks have seen the CIPD Annual Conference taking place, and as expected there has been an outpouring of news, recommendations and amendments to policy.
Whilst it’s likely that many of these changes will do little to affect the way that HR jobs in Portsmouth work or the way that HR professionals’ and the businesses they work with act on a daily basis, there are some major changes. Key among these announcements was the notion that CIPD wish to implement a “human capital framework”.
Known as “Valuing your Talent” the aim of the initiative is to help businesses and their HR departments to measure the impact and value that their workers have.
As HR recruitment agencies are aware, one of the main benefits of having a HR department or professional is to ensure that staff remain satisfied, engaged and productive. The aim of this new framework is to make their roles easier.
CIPD Chief Executive Peter Cheese discussed the new initiative: “The objectives are to better understand how developing and managing people better releases and drives value in an enterprise. It also aims to define much more clearly the basic people metrics to promote agreement and consistency and how those measures are used.”
This won’t be the first time that a project of this scale and with this aim have been introduced but whereas previous efforts have failed, the general consensus from the conference were positive, especially as it emerged that CIPD have already forged partnerships in various industries as they attempt to get this initiative into the average workplace.
They will be working with the Commission for Employment and Skills (UKCES), the Chartered Institute of Management Accountants (CIMA), the Chartered Management Institute (CMI), Investors in People (IIP) and the Royal Society for the Arts (RSA) as the project begins.
Anthony Hesketh, a senior lecturer at Lancaster University Management School, is leading research for the project, and discussed the impact it was likely to have on the jobs of JR professionals and HR Jobs Surrey: “The idea of human resources is about potentiality. The notion of human capital is capturing that resource and capitalising it, and that is the challenge we have set ourselves… how can we transform humans from being a cost to an asset?”
However, some audience members seemed less than impressed with the initiative, especially the way that metrics were going to be used to measure “messy and unpredictable” data such as human relationships. OD Consultant Megan Peppin said “This sounds like finance finally getting their hands on HR.”
For the moment however, the initiative is optional rather than mandatory and time will tell just how useful it’s likely to be in the long term.