Personnel Today's petition to include meaningful HR data in company reports has generated a huge response, with more than 300 signatories already signed up. Here are the edited highlights of the feedback we have received from those who have signed our petition so far, as well as industry experts and members of the Accounting for People Taskforce.
What members of the Accounting for People Taskforce are saying...
"I am entirely happy with the emphasis on companies reporting on those matters material to their business. My taskforce provided some guidelines for those companies that wish to include people information in their reports, but as the Accounting for People report made clear these were certainly not intended to be prescriptive."
Head of the Accounting for People Taskforce
"I'm fairly happy with the regulations - the taskforce was all about creating an awareness and understanding of HCM [human capital management] and how important it is. We are now leaving it up to management, but they ignore this at their peril. If organisations do not include people information, it almost implies that they [people] are of lesser importance than other things that are necessary for an understanding of risk and strategy."
"Having been a member of the taskforce that produced the Accounting for People report, I was disappointed by the stance that Personnel Today has taken with regard to the Operating and Financial Review (OFR) regulations and accompanying draft reporting standard from the ASB (RED 1). I agree with the comments made by my fellow taskforce member David Bishop that "the taskforce was all about creating awareness and understanding of HCM and how important it is". That was very much a reflection of the messages we heard from companies and investors during our work and a sentiment echoed in our report, which formed an important input to the ASB guidance.
"Personnel Today claims that 'in the ASB guidance, employees are seen almost exclusively as a risk rather than and asset'. That is not my reading of RED1 and the accompanying implementation guidance. Employees are referred to as an example of a resource in paragraph 49 of RED1, and as a 'particularly key resource' in IG21. Further, employees are also referred to as an example of a significant stakeholder relationship in paragraph 56 of RED1. That is, I suggest, the in