How to measure the enormous value that people bring to an organisation is a growing conundrum for traditional accounting, and it’s getting some serious scrutiny the world over.
While you can value plant and stock, the “intellectual capital” of an organisation is mostly overlooked. The intellectual capital includes all the knowledge and experiences of your staff, either learnt in formal training sessions or picked up along the way from informal discussions with colleagues.
How to harness the knowledge is another problem. Knowledge is hugely powerful to an organisation and academics say the management of it – how it can be shared around and stored – is one of the biggest issues facing organisations today.
So why are knowledgeable people so important to your business and what strategies can you implement to create an environment where staff feel motivated to stay, and contribute and share that knowledge?
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