The SEC in the US is the equivalent of the FCSA in South Africa. The SEC has amended its corporate disclosure rules to require companies to report on their management of human capital. It is a first step to transform corporate disclosure from its 20th century focus on property, plant, and equipment, and recognise the critical role of human capital in driving corporate value creation today. Research reveals only 75 companies out of the S&P 500 even disclose what they spend on paying their people, much less whether they have recruited, trained and strategically deployed workers in a way that creates or jeopardizes long-term value.
Are our organisations focussing on this? Are we ready for when this becomes a requirement in South Africa?