HUMAN CAPITAL AS AN ASSET: Examples of a human-capital-positive approach PAGE 21 AN ACCOUNTING FRAMEWORK FOR THE NEW WORLD OF WORK HUMAN CAPITAL DECISIONS IN PRACTICE Marriott International Franklin Templeton Singapore Airlines Sharing the pain between Living the company’s values Redeploying its skilled hotel workers and executives in the community workforce to contribute to the community ECOSYSTEM AND PURPOSE SOCIAL RESPONSIBILITY ECOSYSTEM AND PEOPLE, WORK AND SKILLS With the drastic decline in economic activity and As part of its zero-tolerance policy on racism, Franklin As COVID-19 travel bans and lockdowns went into effect, plunging occupancy rates due to the pandemic, Marriott Templeton recently fired an employee who was caught many airlines took drastic measures to offset the loss International made the decision to furlough tens of on video having a confrontation with an African American of business, cutting salaries and furloughing employees thousands of its staff while also imposing salary cuts on its man in New York. “We can’t control everything, but we among other cost-cutting measures. Singapore Airlines executives. In addition, Marriott has donated hotel rooms can control the environment in which we operate our saw an opportunity to redeploy its furloughed employees to front-line workers in the battle against COVID-19. This companies,” Chief Executive Officer Jennifer Johnson said. as “care ambassadors” in low-risk hospital wards to has resulted in the hotel chain being perceived as an “And it starts with leaders ensuring that discrimination help provide basic care, nutritional care and patient 23 employer of choice in the media despite its furloughing of is not tolerated and that we create an environment that service management . This was a great match because 22 absolutely feels inclusive for all employees.” It is imperative employees . Properly valuing human capital means that the cabin crew members are already trained in crisis companies are more likely to seek to retain staff during that leaders and employees of Franklin Templeton live management and first aid, and the redeployment of their downturns, even at the cost of salary cuts to executives, the company’s values, even when not at work, in the skills helped local efforts to contain the crisis. Such actions making them better positioned for the economic recovery. communities in which they operate. Companies should improve a company’s reputation and strengthen its human understand and value the importance of their workforces capital: If redeployed employees eventually return, they will as stewards of their corporate reputation. do so with valuable new experiences.