In The Human Value of Enterprise, Andrew Mayo proposes a quantitative methodology that attempts to bring the rigors of financial accounting to human resources management. Mayo sets forth a series of formulas designed to reveal how much each individual is contributing to the overall value that any company creates for its stakeholders. Of course, these formulas are limited by the subjective process through which managers assign values to the activities and results of their employees. That said, the procedures that Mayo outlines can be used as the foundation for a fairly rigorous system of human resource cost accounting that getAbstract.com recommends to all professionals in the field.
In this summary, you will learn
- How to quantify the contributions that individual employees make to the overall value that your company creates for its stakeholders;
- How to quantify your company’s efforts to bolster employee motivation, foster employee loyalty and encourage employee growth, and
- How to use measurements in both areas in making decisions about staffing and overall corporate strategy.
About the Author
Andrew Mayo is a well-known international consultant, speaker, and author. He is a Program Director at London Business School and a Professor of Human Capital Management at Middlesex University Business School. He is the co-author of The Power of Learning, Managing Careers, and Creating a Training and Development Strategy.
Comment on this summary
Contained in Knowledge Pack:
Knowledge PackHuman CapitalWhen you say your most valuable business asset is your employees, you’d better measure it.
Customers who read this summary also read
G. Andrew Karolyi
Oxford UP, 2015
Dave Ulrich et al.
Greenleaf Book Group, 2017
Suhas Apte and Jagdish N. Sheth
University of Toronto Press, 2016