ECIIA and EIRG (European Institute Research Group) hosted a webinar on Internal Audit and Human Capital, on Wednesday, January 17, at 11:00 (CET). The 2024 edition of Risk in Focus (RiF) highlighted human capital again as the second biggest risk. Chief Audit Executives expect a substantial rise in the time their IAF will spend on this topic in the coming years.
If you have not attended the webinar, the recording is available here.
- Align your internal audit activities with the strategic objectives of the human capital of the organisation;
- Consider both specific audits as integrating aspects on human capital in every audit and your advisory role when strategies and procedures are not mature yet; learning curve gets the most from audit practice at this stage, while maybe guidelines may come later when the audit practice is more mature;
- Make use of the available metrics of the organization, f.e. in the appraisal cycle, employee satisfaction surveys, …; align with the 2nd line to determine where internal audit especially can add value;
- In DEI (considered in the broad concept, not only gender) pay attention to both the additional regulations as the importance of it as a strategic item to attract employees;
- In auditing talent management also looks behind the traditional metrics (like turnover) to look at f.e. the workforce planning for the medium and long term and compensation schemes;
- The ability to ‘speak up’ is key for psychological well-being; the IAF might look both at the instruments as at the perception of employees on this;
- Regarding psychological safety employee survey results could be used in risk analysis and preparation of the audits to focus;
- Especially since COVID, there is a responsibility for organizations to deliver psychological well-being; strategies on this are not mature; internal audit can help in its advisory role;
- Other skills need to be developed; focus on learning by doing;
- Consider recruiting people with different (social sciences) backgrounds and exchanging experiences with peers.
- Chiara Velenich, Audit Senior Manager at Stellantis, Italy | Facilitator
- Astrid Langeveld, CAE at Achmea, Netherlands
- Alberto Ferreiro Prado, CAE at Ferrovial Group, Spain
- Luis de la Fuente Gil de la Vega, Head of Internal Audit for Sustainability and Human Capital at BBVA, Spain
- Pascale Vandenbussche, ECIIA Secretary-General