What is ISO/TS 30427 about?
ISO/TS 30427 describes the elements of organizational workforce costs. This document provides the formula for comparable measures for internal and external reporting.
ISO/TS 30427 also highlights issues for consideration when interpreting the cost data, especially when deciding on the appropriate intervention internally and when reporting these to external stakeholders (e.g., regulators, investors).
Who is ISO/TS 30427 for?
ISO/TS 30427 on HR management and cost metrics are useful for:
- HR managers and administration
- Finance managers
- Accountants and auditors
Why should you use ISO/TS 30427?
Given the significant investment organizations make in their human capital, it is important to be able to accurately and consistently measure the cost of this investment. Where the outsourced workforce is a significant and material element of the organization’s workforce costs, it can be preferable to report outsourced workforce costs separately.
ISO/TS 30427 deals specifically with the cluster of metrics in the costs cluster. ISO/TS 30427 includes the following cost cluster metrics:
- Total workforce costs
- External workforce costs
- The ratio of the basic salary and remuneration
- Total costs of employment
These metrics help you to identify the cost of employees to your organization. With these metrics, ISO/TS 30427 also help you to retain and recruit employees based on their average cost to the organization and how well they engage within the organization’s culture.
