CDH boss pushes for law to include HR report to financial statements
Group Chief Executive Officer of CDH Financial Holdings, Mr. Emmanuel Adu-Sarkodie, has charged HR practitioners to push for a law that will make mandatory for HR Report to be included in financial statements for organizations and businesses.
Mr. Adu-Sarkodie made this call when he delivered a keynote address as the Guest Speaker at the 2016 Annual General Meeting of the Institute of Human Resources Management Practitioners (IHRMP).
The event was held at the Ghana Kofi Annan International Peacekeeping Training Centre, Teshie, Accra on Friday, 11th November 2016.
“Why are companies required by law to report on aspects of their businesses, such as the financial and operational activities but we completely ignore to report on the Human Resources within the organization that is essential to the delivery of all these other measures? Is it not time for companies to report annually on their human resources through the use of external HR consultants (similar to external auditors) who will prepare an annual assessment of the employees of the company and its corporate governance structures on issues such as quality, turnover, and investment?” he quizzed.
He spoke on the theme, ‘Data Analytics: The New Frontier for HR in Ghana’.
He explained that the harnessing of Big Data for businesses does not only make a considerable contribution to performance but can also play a role in improving quality and efficiency in the delivery of customer services.
“Traditional recruitment in most organizations has operated around the job specification; that is a list of academic records, works and professional experiences and capabilities that the organization requires to fill a gap in the specific job role. Today’s leading companies are, however, developing various behavioral analytics techniques to support a more data-driven recruitment culture. Such organizations recruit their people based on analysis of multiple dimensions of talent data and organizational data to see the impact that recruitment changes can have on the rest of the company.
The President of the IHRMP, Mr. John Wilson, who presented a report of his 3 years stewardship to his members said: “We continued with the Growth Plan under the 4 thematic areas (Expansion, Visibility, Capability, and Culture).
Mr. Wilson told his members that the Ghana HR Star Awards was launched on September 6, 2016, at the HR Centre. It was announced that the awards will come in 14 categories and will cover both the private and public sector, adding up to 28 awardees. Also the Awards ceremony is scheduled to take place tentatively on 25th March, 2017”.
On financial performance, the President of IHRMP reported that Total income increased from GH¢795,332 in 2014 to GH¢ 929,943.09 in 2015. A net increase of GH¢134,611.09(17 %). The total expenditure of the Institute for the same period, also increased by GH¢114,557.99(16 %) to GH¢ 822,955.35 in 2015 as compared to GH¢ 708,397.36 in 2014. The institute recorded a net surplus of GH¢106,987.74 in 2015 as compared to 2014 net surplus of GH¢ 86,935.14. This represents an increment of 23% in net surplus.
In his welcome address, the Executive Director of the Institute, Mr. Ebenezer Agbettor pointed out the three main purpose of the AGM: Firstly to take inventory of all the happenings of the past year; To listen to a seasoned Banking personality on a topical issue and finally to strengthen networking and lunch together as one big family.