Perth-based SSE has said its human capital, the skills and capabilities of its employees, is worth £3.4 billion.
In a first for a UK company, SSE commissioned a study measuring the economic value of the skills and capabilities of the people it employs.
It also highlights the value to the UK economy of SSE’s long-term investment in the talent of tomorrow.
Since 2007 SSE has invested £60 million in apprentice training.
The new report found that for every £1 SSE invests in apprentices there is an economic return on that investment of £4.29, and for technical trainees it is £7.65.
The methodology took account of the expected lifetime earnings of each SSE employee depending on skills and qualifications.
It made adjustments for factors including the length of time an employee is expected to stay with SSE and for company-level risk in the probe carried out by professional services firm PwC.
The £3.4bn UK figure was broken down into England £1.82bn (10,685 employees); Scotland £1.12bn (6,241 employees); and Wales £270m (1,798 employees) giving an average human capital per head of £173,000.
SSE also commissioned PwC to estimate the economic impact of its operations, and found that over the past three years it contributed £27bn to the UK economy and more than 2.5bn euros to the Irish economy.
John Stewart, SSE director of human resources, said the report would help the energy firm develop its current levels of employee skills and capabilities.
“Human capital should not be thought of as an asset a company owns, rather it’s the people SSE ‘borrows’ from society which allows our business to operate and to grow,” he stated.
“This report shows in black and white how both a company and society benefits from proper investment in its workforce through increased earnings for individuals and resulting increased tax payments.
“SSE is breaking new ground with this report, which helps us properly understand the economic return on investment and shape our future HR plans and our investment in training.”
Alan McGill, partner at PwC, said: “SSE and its human capital results will open the eyes of the business world to the importance of valuing people and investing in them.”
SSE is one of the UK’s leading energy companies, supplying energy to around 8.89 million energy and home services customers throughout Great Britain and Ireland.