People are a precious resource. That is why we need social accounting | by Ari Joura, PhD | February 2024

In a similar vein to ecosystem accounting, social accounting gives back to people instead of just extracting value

Social accounting recognizes the fact that people exist regardless of whether they choose to be part of a corporation or not. Image created by Leonardo AI

Expression Human Resources has got a bad rap like late People being people, they realize corporate boards are rechristening their HR departments department of people emphasize changing their thinking.

To some extent, this is a very welcome evolution. It paves the way for thinking of people as beings with their own right, beings who freely choose to contribute to the running of society because it brings them joy and purpose beyond a paycheck at the end of the month.

Human Resources as a term it sounds depersonalized. When workers are treated as expendable resources, like cogs in a big machine, they feel that their contribution is insignificant. Consequently, their productivity declines.

People want to be treated in a healthy way. They want to be able to develop many different aspects of their skills and their personalities at work, and they want to be seen for who they are. In this case, they tend to be more creative and more collaborative with their teams.

However, this does not contradict the fact that they are a source. A manager can appreciate who their subordinates are as a person and what unique kind of work they do. At the same time, the manager may understand that someone else could do the same kind of work in a similar or even better way.

This does not lead them to treat their subordinate worse. A good manager knows that such people are few and far between and that the cost of replacing them is enormous. They also know that treating their subordinates poorly will not lead to better results and that good human treatment often does not cost much, if anything.

So people are a resource, yes, but a very scarce one. If this resource is handled with care and respect, it can deliver beyond expectations.

Since the availability and treatment of talent is so intricately linked to their performance, and therefore to the performance of any company they work for, it is worth trying to quantify…

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