in article \" Human Capital Measurement: From Insight to Action ,\" authors Whit
ID: 403849 • Letter: I
Question
in article "Human Capital Measurement: From Insight to Action," authors Whitaker and Wilson
Is human capital performance effectively measured through in relationship between Standard Charter's human capital scoreboard and strategic planning agenda (SPA) processes?
Which two "challenges and key learnings" (page 63) could be applied to your organization toward increasing human capital productivity metrics?
Is it HR's role to transform data into meaningful information and action? If so, why? If not, why not?
Provide your rationale supported by citations from related literature.
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Explanation / Answer
The diagnostic power of people measures is often lost as it can be tempting to suppress or manipulate data to result in HR being the custodians of the processes. This prevents senior and line managers from taking accountability of data trends, such as high attrition.
3. Outsourcing, shared service centres and HR technology solutions have allowed space for a more strategic HR role. The Bank allocated significant time for HR teams to facilitate discussions with their businesses, by working through the measures and calculations including highlighting any data anomalies.
Conclusion
Standard Chartered is aware that its approach to human capital is constantly evolving, the future challenge being to provide accurate data and information in real time to managers across the Bank. Human capital in any organization is likely to be an evolving process but has the potential to provide data-driven insights which can help to drive the strategy of the organization. Although some may perceive it as another HR fad adopted in an attempt to represent the HR function%u2019s transition to be more strategic, the role of HR should be to transform data into meaningful information and action.
The People Strategy and Product Management (PSPM) team for Standard Chartered Bank is responsible for the development, implementation and evolution of the Bank%u2019s key people management products and processes to drive performance across the Bank. Located within Group Human Resources, the team operates alongside global organization effectiveness teams providing strategic support to global businesses and local HR teams who support managers in each market. The HR Shared Service Centre (HR SSC) administers the Bank%u2019s global management information system (MIS), policy and product management and extensive data analysis to allow the consistent adoption of policies and processes across the Bank.
A small team within PSPM began the journey to implement a global human capital reporting structure in 2005. The global MIS system and the Banker%u2019s inherent analytical and data-driven nature provided a significant advantage. The prototype Human Capital Scorecard was presented to the Bank%u2019s top sixty senior managers with whom facilitated conversations were held to determine how the Scorecard might be adopted within their business areas. As a result of this early engagement, the interest and demand for robust and consistent data became insatiable.
In partnership with the business leaders, we faced a number of challenges on this journey, specifically related to growth through acquisition. These challenges included data housed in disparate systems, inorganic headcount increases, and an evolving organisational structure. In addition, the matrix structure of the Bank made it difficult to report data in a meaningful way. In fact it remains a challenge to ensure business teams use the data to proactively plan the people agenda as opposed to retrospective review.
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