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Human Resources or Human Capital?
Ashgate Publishing, February 2012, Pages: 356
Are people really an organisation's most important asset? Not necessarily; some may be liabilities – but others are the most important drivers of value that an organisation has. But…who are they? How do you know? How can you maximise the value they have and the value they provide? Finding the answers to questions like these is what human capital management is about.
Whether public or private, successful achievement depends first on the capability of people, and secondly on their commitment and productivity. Andrew Mayo's Human Resources or Human Capital? discusses how you can ensure the most effective management of these value creating assets. The first part of the book also shows how to create an integrated framework of measures that can become an integral part of the organisation's performance management – and how companies have done this in practice.
The modern Human Resources (HR) function desires to be involved, relevant and supportive of the business and its strategies – but often seems not to be so. For human capital management to be effective, it is HR that must initiate the necessary mindsets, frameworks and processes. Part two of this book shows how to do this strategically and successfully, and how HR can be a serious and credible 'Business Partner', enabling managers to achieve their goals through their people and adding real value to all the stakeholders of the organisation.
The book includes 'action challenges' with every chapter and numerous practical examples of the application of its messages.
Introduction: the essential need for human capital management
Part 1 People and Value Creation
- How organisations create value through people
- The value of people themselves
- Motivation, engagement and performance
- Integrating and reporting human capital measures.
Part 2 Human Resources Professionals in Partnership with the Business
- The contribution of the HR professional to more effective business performance
- People and organisation strategies derived from the business strategy
- A score card for the HR function
- Building human capital management skills
- Appendix: examples of non-financial added value to stakeholders
'Andrew Mayo has unique, integrated, and insightful observations on human capital (people) and human resources (the department). His recent book is a marvelous summary and extension of latest thinking about defining, measuring, and improving both human capital and human resources. It offers business leaders perspectives and visions for HR investments and it offers HR professionals tools and actions to make wise HR investments.'
Dave Ulrich, Ross School of Business, University of Michigan, USA and Partner, The RBL Group
'This book is the most comprehensive and practical guide to date to creating organisational value through people. Andrew takes us on a well-structured, systematic journey from different approaches to measuring human capital. This provides an excellent foundation for targeted and relevant people strategy development through to the critical roles and skills required for HR professionals to add real value effectively. A real contribution to HR professional development.'
Tim Miller, Director, Property, Research & Assurance
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