hr+scorecard+(1st) (1)
TRANSCRIPT
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HR SCORECARDPresented By
ADEEL TARIQ
MOBASHIR ALI
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SEQUENCE Introduction Tangible Vs Intangible Assets Tracking HR Effectiveness Effective HR Measures Balanced Scorecard HR Deliverables Lagging Indicators Leading Indicators HR Scorecard Creating HR Scorecard HR Dashboard Conclusion
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INTRODUCTIONNew economic paradigm characterized by Speed,
innovation, quality and customer satisfactionEssence of competitive advantage shifted from
tangible to intangible assetsFocus on human capital and its effective alignment
with overall organizational strategyHR Scorecard measurement/ evaluation system for
redefining the role of HR as a strategic partnerBased on Balanced scorecard developed by Kaplan
and NortonHR transformed from administrative to strategic roleChallenge for managers to make HR a strategic
assetHR scorecard is a lever that enables managers to do
so
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TANGIBLE VS INTANGIBLE ASSETS
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WHY TRACK HR EFFECTIVENESS? To Guide Decision Making
It helps HR staff in how best to manage the HR system to support the company.
To Evaluate Program/Department Effectiveness
It constitutes a “report card” to guide improvement efforts.
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EFFECTIVE HR MEASURES Identify a clear, consistent, and compelling
connection between the company’s strategy and the work of each employee.
Focus on the critical few measures that have the greatest impact on the company’s bottom line.
Document the effects of HR on company performance in credible ways that employees, line supervisors, and managers can understand.
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BALANCED SCORECARD
Kaplan and Norton model (1996)Customer perspective
Corrective activityDevelopmental activityBalancing compliance
with added value
BalancedScorecard
Financial MeasuresKey performance ratios
Financial healthBalancing leading with
trailing indicatorsLearning and growth
People measuresKnowledge measures
Balancing soft andhard indicators
Business ProcessesDrumbeat
Time, cost, qualityBalancing inputs
and outputs
HR Function
Fits Here as
HR Deliverables
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HR DELIVERABLES HR Performance Drivers
Determines the results Unique to the firm Identification and direct integration into
performance criteria e.g employee productivity
HR Enablers
Reinforce the core performance drivers Strategy implementation impossible without
properly aligned enablers For employee productivity enabler could be
training
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LAGGING INDICATORS Lagging indicators are outcome measures
that help you gauge your HR progress by examining the final end result or outcomes of your collective efforts. Use of the “lagging” term reflects the
delay or gap between your actions and a change in the final end result.Non-HR Example
Economy — GNP growth, national debt, unemployment rate, etc.
HR Examples Employee retention. Employee performance. Employee productivity.
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LEADING INDICATORS Leading indicators are process measures that help
you gauge incremental progress you are making toward key HR outcome (lagging) measures.
Since leading indicators measure the results from your processes, there is less of a delay between your actions and a change in the system.
They are the performance drivers — the key factors that enable the overall end result (outcome) you want to achieve.
Non-HR ExamplesEconomy — capital equipment
purchases, layoffs, stock market value, public confidence, exchange rates, etc.
HR ExamplesA reduction in absenteeism in key
positions.% increase in internal people
expressing interest in position
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HR SCORECARD• Measures effectiveness and efficiency of HR functions in producing the employees behaviors required to achieve organizational strategic aims
Focuses on leading indicators
Identifies the differences between HR doables and HR deliverables
Demonstrates HR’s contribution to strategy implementation and to the company’s bottom line
Helps HR managers focus on and manage their strategic responsibilities
Encourages HR flexibility and change.
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CREATING HR SCORECARD
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Outline value chain activities
Define the business strategy
Outline a strategy map
Identify strategically required outcomes
Identify required workforce competencies and behaviors
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Create HR Scorecard
Identify required HR policies and activities
Choose HR Scorecard measures
Summarize Scorecard measures on digital dashboard
Monitor, predict, evaluate
The 10-Step HR Scorecard Process
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OUT LINE VALUE CHAIN AND STRATEGY MAP
Value chain analysis A tool for identifying, isolating, visualizing,
and analyzing the firm’s most important activities and strategic costs
Identifying the primary and crucial activities that create value for customers and the related support activities
Strategy Map A diagram that summarizes the chain of major inter
related activities that contributes to a company's success
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STRATEGY MAP
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IDENTIFYING WORK FORCE REQUIREMENTS AND STRATEGIC OUTCOMES
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IDENTIFYING COMPETENCIES, SYSTEMS, PRACTICESHR Systems
Alignment with StrategyInternal HR Alignment
Matching HR Strategy to Company Culture
HR Strategic Focus
HR CompetenciesOperational Efficiency
High Performance Work SysEmployee RelationsStrategy Execution
HR PracticesRecruitment & Selection
Employee OrientationPerformance MeasurementTraining & Development
HR DeliverablesHigh Employee SatisfactionHigh Customer SatisfactionLow Key Staff Turnover
Knowledge Growth
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CREATE HR SCORECARD
NOT CLEAR WHAT TO ADD HERE
NEED YOUR INPUT
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HR SCORECARD MEASURES Review existing measures and identify their
strengths and weaknesses
Identify corporate goals and HR’s contribution toward these goals
Create a customer diagram and list of results HR produces to support the organization
Define measures for each result
Define levels of goals for each measure
Define two tracking reports to communicate actual vs. planned performance.
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HR DASHBOARD“A picture is worth a thousand words” sums up
the purpose of HR Dashboard.
An HR Dashboard presents the manager, via a PC desktop screen containing graphs and charts , with a bird’s eye view of how the HR management function is doing
Summarizes how core measures from HR scorecard are doing
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SUMMARIZING MEASURES ON DASHBOARD
QWL Score
Core Values
Overall Job Satisfaction
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CONCLUSIONHR Scorecard Enables Managers to
Understand how to Align HR Strategy with Overall Business Objectives
Tracking and Performance Evaluation Of Business Strategies
HR Scorecard a Tool to Ensure Continued Learning and Change Management
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THANKS