【正文】 on was invariably gauged by studying its earnings and fixed assets and adding a token amount for goodwill, by the end of the decade a seismic shift had taken place. When accountants Ernst Young came to look at the issue, they found that the largest slice of most panies39。 but even 39。 stalwarts like BP, despite its huge investments in oil platforms and exploration equipment, notched up a significant 74 per cent. The upshot was that even panies operating in the same sector with similar earnings could experience widely differing stock valuations. Those ignoring the new emphasis on 39。 invariably found themselves penalized by the markets. 19 Shifting Values, Shifting Rewards ? The shocks of September 11 and dramatic changes in employees39。 business knowledge. ? Microsoft has a market capitalization of $450 billion, the largest in the world. If you add up every desk and chair, every puter, every building, every piece of land, everything we own, including the $17 billion or so we have in the bank, it es to about $30 billion. If you then add in things like goodwill and other financial assets, maybe you39。s the stuff in smart people39。 feedback ? Customerfocused environment ? Remuneration ? Sharing information with employees 22 Employee Engagement ? 26% of employees are engaged in their jobs ? 55% of employees are not engaged in their jobs ? 19% of employees are actively disengaged in their jobs Gallup Management Journal, 2023 23 Attract Retain or Lose to Resignation What attracts and retains high performers? 79% stay because of opportunities for advancement 69% stay because their job is redesigned 65% stay because they are learning new skills in their current job Why do high performers resign? 56% leave because they are dissatisfied with pany management 56% leave due to inadequate opportunity for promotion 50% leave due to dissatisfaction with pay “Strategic Rewards” by Watson Wyatt, 1999 24 NonFinancial Corporate Value ? 35% of an institutional investor?s valuation of a pany is attributable to nonfinancial information. Mavrinac and Siesfield, 1997 01234561985 1990 1995 1999M a r k e t t oBo o k V a l u eo f S P 5 0 0Tobin’s q A futureoriented and riskadjusted capital market measure of performance that reflects both current and anticipated profitability by dividing the markets valuation of a firm’s assets by their current replacement cost. 25 Keys to HR Impact 1. Base the design of your HR system on the business? strategic objectives 2. Align recruitment, selection, development, incentives, and retention strategies 3. Measure employee behaviors that are focused on key business priorities and drive profits, growth, and market value 4. Evaluate operating performance as affected by the HR system Becker, Brian, Huselid, Mark, Pickus, Peter, Spratt, Michael (1997). HR as a Source of Shareholder Value: Research and Remendations. Human Resource Management, Spring 1997, Vol. 36, No. 1, pp. 3947. 26 HR System Impact Shareholder Value $290$310$330$350$370$390$410020 40 60 80100M a r k e tV a l u e p e rE m p l o y e e i nTh o u s a n d sThe difference between a nonstrategic HR system (0) and one that has removed the barriers to performance (20) are dramatic. Improving the relative sophistication of the HR system by adopting best practices does not provide measurable value (20%60% adoption of a strategic HR system). Integrating the strategic elements of HR into the broader fabric of the anization provides a significant improvement in shareholder value (60%80%). When HR systems have adopted best practices and aligned those systems with business priorities and initiatives they return the greatest shareholder value (80%100%). Huselid, Mark and Becker, Brian (1995). High Performance Work Systems and Organizational Performance. Paper presented at the 1995 Academy of Management Annual Conference, Vancouver, BC. 27 HR Skills vs. Importance The skills that are most important to the near future are inversely related to those that HR is currently good at. HR excels in the areas of benefits, labor relations, employee relations, external recruiting, and training and education yet those are the 16th, 19th, 17th, 14th, and 11th most important skills out of 19 surveyed by the Human Resources Planning Society. The most important skills (change management, strategic HR planning, executive development, anizational effectiveness, and culture management) rank as the 17th, 12th, 8th, 14th, and 15th mostskilled areas respectively. – Eichinger, R., Ulrich, D. The Human Resources Planning Society (1996). It’s DeJa Future All Over Again: Are you getting ready? The Second Annual StateoftheArt (SOTA) Council Report. 28 演講完畢，謝謝觀看！