Delivering on the Promise

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Business has long grappled with the concept of "human capital," often failing to recognize the true value of their workforce. Companies frequently resort to mass layoffs to enhance share prices, contradicting their claims that "people are our greatest asset." Human capital experts Brian Friedman, James Hatch, and David M. Walker provide a solution by introducing Arthur Andersen's five-stage framework, "Human Capital Appraisal," which helps managers measure, manage, and leverage their investment in people. The authors outline how managers can assess the effectiveness of current human capital strategies and the efficiency of Human Resources programs. They detail methods for evaluating the time and money spent on recruiting, developing, and managing human resources. Furthermore, they emphasize how firms can gauge the return on these investments, mitigate risks, and maximize the value of their human capital. The book showcases how leading companies like Colgate Palmolive, The Chicago Tribune, Mobil Oil, and others are successfully harnessing the potential of their workforce through innovative human capital programs. This unique methodology makes the book essential reading for chief executives, human resources directors, and line managers alike.