Guidelines & Templates of HR Scorecard Based on BSC (PowerPoint PPTX)

Guidelines & Templates of HR Scorecard Based on BSC

Contents
1. The HR Strategy Map
2. Key Components of the Human Resource Scorecard
3. KPI Based on Balanced Scorecard
4. The Benefits of HR Scorecard
5. Key Steps in Implementing HR Scorecard
6. Methods, Tools, Framework of HR Scorecard

The HR Strategy Map

The term balanced scorecard (BSC) refers to a strategic management performance metric used to identify and improve various internal business functions and their resulting external outcomes. Used to measure and provide feedback to organizations, balanced scorecards are common among companies in the United States, the United Kingdom, Japan, and Europe. Data collection is crucial to providing quantitative results as managers and executives gather and interpret the information. Company personnel can use this information to make better decisions for the future of their organizations.

1. A balanced scorecard is a performance metric used to identify, improve, and control a business's various functions and resulting outcomes.
2. The concept of BSCs was first introduced in 1992 by David Norton and Robert Kaplan, who took previous metric performance measures and adapted them to include nonfinancial information.
4. BSCs were originally developed for for-profit companies but were later adapted for use by nonprofits and government agencies.
5. The balanced scorecard involves measuring four main aspects of a business: Learning and growth, business processes, customers, and finance.
6. BSCs allow companies to pool information in a single report, to provide information into service and quality in addition to financial performance, and to help improve efficiencies.

Financial. This pertains to how well the firm is doing with regards to financial aspect; particularly expenses and revenue. Such considerations comprised of cost of benefits, rent, equipment, salaries, taxes, training, supplies and travel expenses. This data can aid Human resource in identifying methods to cut costs is specific areas.
• to drive long-range shareholder value
• to significantly improve the Return on Investment of Human Resource Strategic Initiatives
• to improve worker productivity

Internal Customers. This deals with the delivery of product, customer satisfaction as well as the immediate response to whatever issues customers encounter. Such concerns composed of the costs incurred for delivering and packing a certain product and the quality of the product. Human resource can conduct surveys to customers in order to identify their levels of concerns and satisfaction. in addition to this, the firm can then focus on areas and come up with quick and the required improvements.
• to establish positive work environment
• to intensify employee satisfaction or internal customer

Human Resource Internal Process. This includes the IT software and hardware to find out the efficiency in cost and time. In the same way, the firm has to specify and account for accounting functions in accordance to the rules of accounting.

Human Resource can also determine if the processes such as maintaining employees, orientation, staffing and recruiting are providing the aimed business outcomes.
• to apply a more exceptional Recruitment Process
• to promote Strategic Employee Competencies
• to carry out Best Talent Management Practices
• to greatly upgrade Performance Management System

Learning. This refers to how much the firm has improved and learned at the time of operation. Here, morale and employee satisfaction are deemed as two crucial factors. On the other hand, other facets composed of change and continuous improvement. Human resource can function to develop weaker areas through the means of cultivating a vigorous performance development and training systems. Creating recognition and ward systems can be another Human resource strategy practice recognized by the HR scorecard.
• to cultivate Internal Human Resource Capabilities
• to establish outstanding Human Resources Information System