Strategy & Leadership

The human resource: From cost to asset

January 24, 2017

Global

January 24, 2017

Global
Adam Green

Senior editor, EMEA

Adam is a senior editor for The Economist Intelligence Unit's thought leadership division in EMEA, focusing primarily on the Middle East and Africa. In this role, he has worked on in-depth research studies, surveys, multimedia documentaries and infographics on topics ranging from healthcare to personal finance. Previously, Adam was Deputy Editor of This is Africa, a bimonthly magazine published by the Financial Times. He also worked as Communications Officer for the International Growth Centre, a research institute based at the London School of Economics and funded by the UK Department for International Development. Adam holds a Masters in Development Studies from the School of Oriental and African Studies, with a grade of distinction, and an undergraduate degree in Philosophy and History and Philosophy of Science from the University of Leeds. His independent research and journalism has been published by the Middle East Institute.

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While CFOs focus on numbers, and CHROs on people, both have the ultimate goal of maximising profitability.

To less-enlightened CFOs, human capital is viewed as a cost to be managed. Even after many advances in productivity, average human capital costs are, admittedly, still a major operational expense. But in the modern global economy, where ideas and digital skills – rather than physical resources – are increasingly where economic value is realised, people can be a company’s greatest asset. CFOs need to see the workforce as an engine of innovation, rather than a cost to be managed.

 

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