Very interesting post by Michael Echols of RSA.
The old corporate cliché that ‘our people are our greatest asset’ is based on a fundamental truth. Michael Echols FRSA argues that the way we evaluate economic success and the impact of investment in people needs to reflect this.
In a knowledge-driven economy, organisations depend on the intelligence, talents, skills and expertise of their employees to create value.
The problem is that our macroeconomic theories, standard accounting protocols, evaluation tools and decision-making structures do not allow us to properly recognise, value and invest in these seemingly intangible, yet vital, assets.
The benefits of social networks are now recognised more as having value, people are important, communications are vital – especially when working with multiple partners. I am not sure whether these strengths can be simulated or learnt on a course – they are slow to acquire – like good friends in life are. I’m researching setting up an agency that will act as a conduit for networks and communications – a system that provides a two-directional flow. And delivers arts projects. Exchange – not leading from the front – mutuality, not power – partnership and joint-thinking, not competition.
As Echols states:
But the challenge is to make such intangible value more tangible, and therefore suitable for investment-based approaches to human capital development. This will require specific, executable actions that policy makers and executive decision-makers can take to create value for individuals, organisations and nations.
I’ve always liked a challenge and delivering executable actions.
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