Foreword vii
Preface xv
Acknowledgements xxi
Part 1 Creating Value in HCM 1
1 Accounting for People 3
2 People Management Strategy Dynamics 25
3 Best People Management Practices 63
4 Intangible Capability through People 96
5 Creating Value in People Management 138
6 Managing and Measuring Human Capital 167
Part 2 The Strategic HCM Planning Cycle 205
7 HCM Strategy Development 207
8 HCM Measurement 233
9 HCM Benchmarking 265
10 HCM Implementation 293
11 HCM Reporting 319
12 HCM Roles and Technology 342

Strategic human capital management (HCM) is not just a measurement focused approach to human resource management (HRM). It is certainly not a decision science in which people can be managed as a result of quantitative analysis and financial valuation. In fact, it is probably more of an art than a science and is a way of leading people to unlock great business performance. Strategic HCM focuses all people management and development practices on maximizing the capability and engagement of the people working for an organization to create valuable intangible capability, human capital, which enables the organisation to take full advantage of potential business opportunities. Unlike HRM which focuses on getting closer and closer to the business, strategic HCM draws its energy from people, from their individual strengths, interests and motivations, which, aligned with long-term business strategy, can increasingly provide the main basis for differentiation and competitive advantage. However, the perspective also recognizes that measurement is important, and the book outlines an approach to measurement which recognizes the importance of knowledge, complexity, best fit and intangibility. Pulling together seemingly disparate strands of thinking, the book calls for a paradigm change in which people really are seen as an organisation's most important asset, and are managed in a way that reflects this fact. The text includes case studies from leading private and public sector organizations and commentary from HR practitioners and academics. * outlines the key attributes of a strategic approach to HCM and captures these within a scorecard (the HCM Value Matrix). * provides a process for managing human capital using the scorecard (the Strategic HCM Planning Cycle). * Includes case studiesfrom leading organizations and commentary from HR practitioners and academics.