People strategy vital part of UK annual accounts

first_img Comments are closed. Previous Article Next Article Related posts:No related photos. New draft regulations on company law not only fully endorse therecommendations of the Accounting for People Taskforce led by Denise Kingsmill,but also go further than she had hoped. From 2005, it will be compulsory for all plcs to provide information onpeople management in annual reports and accounts. Speaking exclusively to Personnel Today, Kingsmill, chair of the originaltaskforce, said draft regulations had gone further than she had expected –insisting that all listed companies, not just large ones, should provide peopleinformation. “I am delighted with this endorsement, and I hope HR will develop itsskills to rise to this major challenge,” she said. Kingsmill believes companies should use these human capital measures toenhance their communication to shareholders as ethical businesses and employersof choice. HR will need to work with finance directors, marketing and the boardto provide the right information, including data about human capitalmanagement, for all future operating financial reviews. She urged HR to embrace the change as it should transform the profession’sstatus from support service to a direct contributor to company profit. There will now be a consultation period on the draft regulations, withimplementation likely at the end of this year. Companies will be expected toinclude people metrics in their 2005 financial reporting. People strategy vital part of UK annual accountsOn 18 May 2004 in Personnel Todaylast_img


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