Correlation between Human Resources Management, Financial Performances: Survey

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Last updated at: (Beijing Time) Wednesday, October 30, 2002

Correlation between Human Resources Management, Financial Performances: Survey

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Watson Wyatt, a leading international human resources consulting firm, has announced the outcome of its first Asia-Pacific Human Capital Index (HCI) Survey with findings focused specifically on China.

The survey was conducted among more than 500 publicly-listed companies from 12 countries across the Asia-Pacific region and its outcome was released here Tuesday. The outcome established a clear correlation between effective personnel management and shareholder value creation.

Frank Gallo, a managing consultant of Watson Wyatt China, said,"Chinese firms have realized the importance of human resource management. And they are taking measures to improve in this area."

The consultant said that, as China has been shifting from a planned economy to one where companies pay for performance, HCI scores will rise. As the trend progresses, companies will start tosee significant improvement in their human capital programs and ensuing gains in financial status.

According to the survey, China's HCI results in recruitment were better than those in the rest of the Asia-Pacific region, butscores in such areas as employee retention and maintaining a collegial workplace still need to be improved.

Gallo said that creating a working environment based on equality and fairness and encouraging employees to innovate will help improve employees' skills and satisfaction and sharpen the corporate competitive edge.

Watson Wyatt is a global consulting firm focusing on human capital and financial management. It specializes in employee benefits, human capital strategies, insurance, and financial services.

Watson Wyatt, which entered China in 1984, has branch offices in Shanghai and Beijing. And a third office is scheduled to open in Shenzhen next week.

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