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HR Score Card

HR Score Card

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Published by: SHAHEDMEHMOOD on Oct 21, 2009
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04/15/2013

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HR Balanced Scorecard
University of Arid AgricultureRawalpindi (UAAR).
Subject:
 
Human Resource Management
Presentation On:
 
HR Balanced Scorecard
Balanced Scorecard
Definitions
The balanced scorecard is a strategic planning and managementsystem that is used extensively in business and industry,government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization,improve internal and external communications, and monitoorganization performance against strategic goals.
Business Definition For Balanced Scorecard
“A system that measures and manages an organization's progresstoward strategic objectives is balanced scorecard”. The balancedscorecard incorporates not only financial indicators but also three
 
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HR Balanced Scorecard
other perspectives: customer, internal business, andlearning/innovation. The scorecard shows how these measures areinterlinked and affects each other, enabling an organization's past, present, and potential performance to be tracked and managed.
History
In1992,Robert S. Kaplanand David P. Norton introduced the
Balanced Scorecard
, a concept for measuring whether theactivities of a company are meeting its objectives in terms of vision and strategy. By focusing not only on financial outcomes but also on the human issues, the balanced scorecard helps to provide a more comprehensive view of a business which in turnhelps organizations to act in their best long-term interests. Thestrategic management system helps managers focus on performance metrics while balancing financial objectives withcustomer, process and employee perspectives. Measures are oftenindicators of future performance.Since the original concept was introduced, balanced scorecardshave become a fertile field of theory and research, and many practitioners have diverted from the original Kaplan & Nortonarticles. Kaplan & Norton themselves revisited the scorecard withthe benefit of a decade's experience since the original article.Implementing the scorecard typically includes four processes.
The four processes are:-
Translating the vision into operational goals.
Communicate the vision and link it to individual performance.
Planning of Business.
Feedback and learning and adjusting the strategy accordingly.
Innovation of the balanced scorecard
Kaplan and Norton describe the innovation of the balancedscorecard as follows:"The balanced scorecard retains traditional financial measures. Butfinancial measures tell the story of past events, an adequate storyfor industrial age companies for which investments in long-termcapabilities and customer relationships were not critical fosuccess. These financial measures are inadequate, however, for guiding and evaluating the journey that information age companies
 
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HR Balanced Scorecard
must make to create future value through investment in customers,suppliers, employees, processes, technology, and innovation."
 Adapted from
the Balanced Scorecard
by Kaplan & Norton
Perspectives
The balanced scorecard suggests that we view the organizationfrom four perspectives, and to develop metrics, collect data andanalyze it relative to each of these perspectives:
1)The Learning & Growth Perspective
This perspective includes employee training and corporate culturalattitudes related to both individual and corporate self-improvement. In a knowledge-worker organization, people -- theonly repository of knowledge -- are the main resource. In thecurrent climate of rapid technological change, it is becomingnecessary for knowledge workers to be in a continuous learningmode. Metrics can be put into place to guide managers in focusingtraining funds where they can help the most. In any case, learning

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