“The Balanced Scorecard: A New Challenge:Introduce the concept of the Balanced Scorecard and briefly discuss how it is used in organizations and in HR..
Introduce the concept of the Balanced Scorecard and briefly discuss how it is used in organizations and in HR.
you have studied the use and impact of metrics to monitor and trend outcomes as contrasted with targeted outcomes and compared oftentimes with industry standards. Metrics in the AHROP may include measurements of activities and actions that are either specific to the Human Resource Department or Division, or that are actually organization-wide. Typically, the Human Resources Department or Division has HR metrics the at (1) routine HR metrics and (2) are metrics to track the HR strategies in their AHROP. They also oversee, but do not own, some organizational metrics that no one department actually “owns” (e.g., metrics that examine the overall success of the organization in some way and typically are organizational knowledge, organizational capacity, and organizational effectiveness. The Human Resource Department or Division not only directs and monitors its own department’s areas of responsibility, but it also tracks and trends larger more strategic organizational oversight metrics which impact the entire organization and drive the organization’s success. These are metrics upon which the CEO and COO are very dependent to assess progress and, at times, necessary redirection.
The article “The Balanced Scorecard: A New Challenge” details the purpose of and method for using balanced scorecard analysis to track and trend an organization’s activities against the organization’s key goals or strategies.
*Keep in mind that a Balanced scorecard does not contain ALL of HR’s metrics, just the top 10 or less, which also are often shared, even publicly.
For this Assignment, review the week’s Learning Resources and consider the role of HR metrics in monitoring and trending the 3 categories contained in the attached HR Metrics Matrix. Consider the research you have done and are doing on your selected organization.
To complete this Assignment, in a 2 page paper compile monitoring and metric information including the following:
- Introduce the concept of the Balanced Scorecard and briefly discuss how it is used in organizations and in HR.
- Create section headings for the key HR metrics for each of the 3 categories identified in the attached Matrix and discuss(table): Routine HR Metrics, HR Strategy Metrics, and HR Organizational Oversight Metrics.
- Explain your rational for including those metrics on your Balanced Scorecard
- Create an HR Balanced Scorecard, as a Table using the attached Matrix, tailoring it to the organization you have chosen for your Annual Human Resources Operating Plan.