WSIB: Social and Human Capital Accounting Worked Example

This worked example provides an overview of the approach to define, implement and measure the mental health strategy by the Workplace Safety and Insurance Board (WSIB). It shows how the finance team involved on the project used data validation, performance evaluation, budgeting and risk assessment skills and experience to validate that investing in people is critical to the services that they provide.

WSIB administers compensation and no fault insurance for workplaces in Ontario – the largest province in Canada. WSIB provide workplace injury and illness insurance for over five million people and over 300,000 businesses in Ontario. In Ontario, mental health is one of the top three drivers of short term and long term disability claims.

You may aslo be interested in...

Manulife Social and Human Capital Accoutning

In March 2017, the Canadian Chapter of the A4S Chief Financial Officer Leadership Network was launched in partnership with CPA Canada. The A4S CFO Leadership Network is a global network that brings together a group of leading CFOs from large organizations seeking to embed the management of environmental and social issues into business strategy and processes, and is currently the only Network of its kind.
For its first project, the Canadian Chapter members implemented learnings from the A4S Essential Guide to Social and Human Capital Accounting, which was published 
in May 2017 and is available on the A4S website.

Manulife's finance team took on the task of developing an income-based framework to estimate the value of its human capital. This booklet and video explains why and how.

Social and Human Capital Accounting Guide

Read the guide which has influenced the WSIB practical example

THE CO-OPERATORS GROUP EXAMPLE

This worked example outlines The Co-operator's mental health initiative, highlighting the issues faced and the trigger for action.