Academy of Management, SIOP, or SHRM – despite the latter representing nearly 175,000
practitioner members.
In summary, we see the increasing emphasis on HCMS to be a useful development in the
management of human capital. This is truly an area where practical application has outstripped
academic progress. Progress will be greatest when what we know from the areas of
performance appraisal, psychometrics, and information economics is applied to this burgeoning
area of inquiry. We hope that this paper will help to stimulate such application, and encourage
the broader field of HR to contribute to the debate on the best way to measure the returns from
investments in people.