HUMAN CAPITAL AS AN ASSET: PAGE 11 AN ACCOUNTING FRAMEWORK FOR THE NEW WORLD OF WORK HUMAN CAPITAL METRICS - THE CURRENT STATE OF PLAY A basis for work redesign Supporting employee well-being Some companies are also taking action to redesign work. Before Supporting employee health and well-being has been a leading ology was already disrupting the world of concern for many companies during the pandemic. Among the pandemic, techn work, r employees responding to employer-sponsored surveys, there edefining how, where and by whom work is done. The cost pressures, changing business models and workforce disruptions of is a sense of trust and goodwill despite significant levels of 16 the COVID-19 crisis have accelerated many trends associated with stress and worry . Data shows that well-being support from the future of work. According to a global survey of 514 employers: the employer in the form of outreach from managers and communication regarding an organization’s health and well- - 63% have taken action on, are planning or considering being efforts can serve as a buffer against anxiety. redeploying (and potentially reskilling) workers to support another function. As companies recalibrate to the new reality, a focus on balancing company and employee well-being – encompassing - 57% have taken action on, are planning or considering shifting financial, social, physical and emotional aspects – builds a when and where work gets done. pathway to generate sustained value for the business and workforce and support more human-centric outcomes in - 48% have taken action on, are planning or considering automating the world of work. Companies recognize the need to focus 15 on employee well-being, but such efforts would be given a certain aspects of work to streamline and/or increase productivity . firmer foundation by better human capital accounting that By designing with the constraints of today’s business demonstrates their tangible value. environment in mind, organizations are able to unlock innovative ways of reimagining work and to build more sustainable business models; however, cost-effective and sustainable work redesign requires effective human capital accounting to provide measures for valuing all talent, including contingent workers, as an asset.