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More Organizations Join HR Policy in Asking SHRM to Withdraw Investor Metrics Proposal

July 27, 2012
Citing “significant competitive concerns” that would not “further effective corporate governance but merely add to the existing disclosure burden,” the Society of Corporate Secretaries and Governance Professionals sent a letter to the Society for Human Resource Management echoing HR Policy Association’s call for SHRM's investor metrics proposal to be withdrawn.  In addition, the National Investor Relations Institute, an association of individuals who specialize in corporate investor communications, also sent a letter supporting HR Policy’s position and claimed that SHRM’s proposal demonstrates “a fundamental misunderstanding of the capital markets investment and corporate disclosure process.”  The growing resistance to the proposed standards was highlighted in a story in Bloomberg Businessweek, in which Henry Eickelberg, Vice President for Human Resources at General Dynamics, astutely observed, “We are not selling cars where gas mileage is a number people can objectively use to choose among car models. . . . [The standards] may be great metrics for management to use, but an individual investor or institutional investor would say, ‘What conclusions can I really draw from this?'”

News stories and comment letters thus far:

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