Jos got the coldest feet in the World ever – No Wendy has
HCM Metrics works through a number of associations and in collaboration with valued partnerships, to bring services to support you through the certification process so your organisation achieves ISO 30414:2018.
Our process steps explained
There is an increase of human capital management reporting, machine learning, artificial intelligence, and big data analytics in the workplace. These all continue to affect the efficiency and effectiveness of decision-making strategies. Organisations and their stakeholders will benefit from the comprehensive, internationally recognised, human resource standards provided by ISO 30414:2018.
Stakeholder awareness and understanding will be raised of the ISO 30414:2018 benefits, through
- Education and learning development in the HR function, ensuring that
support and assistance is obtained for the audit process
- A dedicated support team of internal auditors, who will be trained within the organisation to provide the data-driven evidence required by the standard
- Dates and resources being agreed for the audit process
The initial Audit is conducted by the certified auditor across all 11 Core Areas of the ISO 30414:2018 standard, and then through gap analysis techniques, the ‘traffic light’ report is produced.
After careful review of the areas for development, an HR Specialist will be available to assist and guide your organisation through the requirements to reach the ISO 30414:2018 standard. The HR Specialist will draw upon their considerable expertise, as well as the huge content pool of material held by HCM Metrics. This will ensure that best practice is understood, shared, and implemented.
The certified Auditor will return to ensure implementation of the development plan is effective and working to meet expectations.
Finally, successful implementation of the ISO 30414:2018 certification is publicly awarded.
There will be constant monitoring with recertification every three years.
Experts from over 28 countries participated with the international organisation for standardisation in Geneva in the development of ISO 30414:2018 over a three year period.
HCM Metrics is pleased to be the first certified lead auditor for the brand new ISO 30414:2018 in the world.
The WEF states clearly that ISO 30414:2018 aspires to truly place people at the centre of organisations. This new standard will disrupt the way companies think, value and report on their human capital, and deliver what investors look for; sustainable growth and returns.
The Chartered Institute for Personnel and Development says that modern organisations recognise that the bulk of value creation is by their people and that good management practices and decisions can enhance that value. ISO30414:2018 is a new international standard to ensure people management decisions and practices become data-driven, and evidence-based.
For the average organisation, your investment is likely to be less than the cost of replacing one of your employees.
Normally, our consultants will be able to help you achieve certification in about 4 – 6 months.
According to Deloitte’s, the C-suite looks at human capital investments through different lenses. CFOs consider things like the ratio of spend to value, measuring ROI, and increasing the value of human capital as an asset. CHROs have been concerned with ensuring the organisation has the right talent for current and future business strategies and is seen as an employer-of-choice. ISO 30414:2018 – Human Capital Management reporting – is a way to reconcile these perspectives, gain visibility into how human capital investments can translate into value for the organisation, and provide opportunities for increased collaboration across the C-suite.
In USA, public companies will have to submit reports on their human capital management as the Securities and Exchange Commission (SEC) finalises its rule. Human capital management reporting may result in a boost for HR professionals, as HR will play a pivotal role in reporting this information. In UK, an amendment in 2018 to the Companies Act 2006 states that companies with more than 250 UK employees are required to include a statement as part of their Directors’ Report summarising how the directors have engaged with employees, how they reviewed employee interests and the effect of that regard, including on the principal decisions taken by the company in the financial year.
HCM Metrics offers considerable support on the journey towards certification. Qualified auditors and HR strategic partners will work with you on a tailor-made programme that suits your needs. Our Academy has a wealth of additional resources, materials, courses and certification schemes.
ISO 30414:2018 will enable organisations to gain a better understanding of their impact on staff and help maximise employee contribution for long-term success. Workforce reporting is about rethinking how organisational value should be understood and evaluated and allowing for more data-driven decision making across workforce management. By providing a number of relevant key metrics that are recognisable on an international scale, multi-national companies can easily transfer human capital information, better control their international HR activities, and provide greater transparency for all their stakeholders. This will immediately impact the bottom-line.
ISO 9001:2015 specifies requirements for a quality management system when an organisation needs to demonstrate its ability to consistently provide products and services that meet customer, applicable statutory and regulatory requirements. It aims to enhance customer satisfaction through the effective application of the system. This includes processes for improvement of the system and the assurance of conformity to customer, applicable statutory and regulatory requirements.
ISO 30414:2018 also states that human capital includes the cumulative knowledge, skills and abilities of an organisation’s people and the impact on an organisation’s long-term performance, as well as competitive advantage through optimising organisational outcomes.
The measurement of human capital facilitates the ability of an organisation to manage one of its most critical resources and risks, people. Research shows that organisations that do not manage their human capital may damage the ability and opportunity for the business to create long-term and sustainable value achieved through their people.
HCM Metrics, part of the HR Analytics Ltd, are the world’s leading experts in ISO 30414:2018. We are experts in human capital management reporting. As machine learning, artificial intelligence, and big data analytics continue to change the efficiency and effectiveness of decision-making strategies in the workplace, we can work alongside you to guide you through these key areas. Instead of relying on experience or intuition, organisations are increasingly benefiting from the major advantages to be gained from comprehensive analysis. This can be combined with the latest technologies and applied to the large data mines already available inside your organisation.
Organisations already accredited by Investors In People are more profitable, sustainable and optimistic about the future. ISO 30414:2018 will build on this success through a wider range of metrics and is applicable globally.
All ISO international standards are voluntary. Recommendations are provided by ISO 30414:2018 to enable organisations to improve their performance in comparison to best practice internationally.
The benefits of a standardised approach to human capital management (HCM) reporting include:
- the use of standardised and agreed data, which describes organisational value in a broadly comparable sense
- the improvement of HCM processes that support good practice in establishing and maintaining positive employment relations
- greater understanding of the financial and non-financial returns that are generated as a result of investments in human capital
- accessible and transparent reporting of human capital data and insights that enhances internal and external understanding and assessment of an organisation’s human capital and its present and future performance.