As companies look to reset for the new world of work that emerges from the COVID-19 pandemic,
it is essential for them to make several shifts in mindsets.
In particular, the shift towards an approach that values talent as a key asset
that contributes to an organization’s sustained value creation will be crucial,
revealed a joint report by Willis Towers Watson and the World Economic Forum.
The report outlined a human accounting framework that can help organizations measure,
quantify the contribution of their people in the same way it measures returns on financial and intellectual capital,
as well as provided five workforce principles that can help guide employers to plan and implement an ethical and sustainable reset of their people strategies as they emerge into the ‘new normal’.
It also shared seven guiding principles to shift how organisations value people.
These include shifts from profit to purpose;
corporate policy to social responsibility;
stand-alone entities to ecosystems; and employees and jobs to people, work, and skills.