1.4 Interest in human factors Flashcards
Bhutan was the first nation to introdice the G______ N________ H________ metric, arguing that it was more important than GDP?
Gross National Happiness
What is meant by the term “human capital”?
The sum of knowledge, skills and experience and other relevant workforce attributes that rside in an organisation’s workforce and drive productivity, performance and the achievement of strategy goals.
What is the purpose of human capital reporting?
To promote more effective people policies and practices to benefit organisations and their stakeholders.
Investors are shifting from a financial capital model to a more includive capital model. What does this mean?
Investors increasingly expect organisations to not only promote profit but also wider issues, such as employee welfare and ESG.
What is “talent management”?
The sytematic attraction, identification, development, engagement, retention and deployment of those individuals with high potential who are of particular value to an organisation.
When asked by Deloitte what organisations’ biggest challenge was, senior executive most often replied, “attracting and retaining t______”.
talent
“Those in governance positions who scoff that human factors such as talent management should be one of the pre-eminent considerations of leadership, one argument is to consider talent in light of risk”. What does this mean?
EY found that 63% of risks disclosed by companies in annual reports were associated with people risk, and of those that were not, most had a people and cultural underpinning.
Cyber security is often considered an external risk. In what way can it be considered an internal people risk?
Cyber security breaches are usually caused by external parties, but do rely on staff negligence, accidental disclosure, loss of devices or a lack of digital skills.
How have attitudes of corporate culture shiften from “a single bad apple” to a “bad barrel”?
There is an increasingl acceptance that corporate failures are rarely caused by one rogue or “evil” individual, and rather by a systeic failure across an entire culture.
Who is ultimately responsible for the culture of an organisation?
The board of directors.
What is corporate culture?
The way in which things are done in an organisation , from its artefacts, to the way people talk, to how they behave.
What is meant by “presenteeism”?
The pheneomenon whereby people choose to attend work even if they are too unwell (physically or mentally) to do so, as a result of corporate culture.
The financial consequencues of which mental health issue were estimated at around $150 in the US?
Burnout
To work at their best, directors need to be mindful of both their m______ and p_______ health and c________ epecially as the decisions the make have broad stakeholder implications.
mental
physical
capability
