| Topic : Role of HR in 2009 for organizational development |
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HR Professionals |
Recruiting Network |
Implementing Balance Scorecard for performance management
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Source : http://ezinearticles.com
Activity:
4 comments
1010 views
last activity : 07 06 2010 20:18:04 +0000
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A good and proper use of performance metrics can help organizations to better understand its overall efficiency and effectiveness in terms of people, processes or programs. Performance metrics is definitely needed for effective management.
Leading organizations have a standardized measurement metrics that are agreed upon by managers; associate strategic and operational measures together; regularly update their scorecards; balance financial and non-financial performance measurements and effectively relay measures and its progress to employees.
BALANCED SCORECARD
It is a tool translates a company's goals and objectives into a set of comprehensive performance measures that give a strategic framework for effective management system. Basically, the balance scorecard is a visual representation of the company's strategy. It is designed to measure the success of an organization, department or business unit, balance short term and long term plans and various success measures such as customer, financial, internal business processes as well as Human Resources development and systems. Moreover, the balance scorecard is also a means of merging strategy with action measures.
WORKFORCE MANAGEMENT
The HR department is mainly responsible for workforce management and it can also play a crucial role in the financial performance of the organization and the quality of customer service as well.
Workforce management constitutes
- the recruitment process
- selection process
- employee compensation and benefits
- turnover issues
- information resource concerning HR issues.
IMPLEMENTATION
When implementing an effective HR balance scorecard system, there should be
- strategic focus
- assessment
- change
in planning and implementation
- continuous improvement.
The
assessment phase involves several step such as audit measures,
developing new necessary measures, application of new measures,
analysis and report. Moreover, implementation of track metrics and
revisiting scorecard cascade should also be taken for continuous
improvement as well.
BARRIERS
However, there may be a number of barriers to developing an effective performance measurement system. These include unclear objectives and informal feedback systems, excessive measurement systems in the organization or deep-rooted management systems. The HR department should be able to deal with these barriers to effectively implement the balance scorecard.
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