Scorecard Metrics for HR

Human resource performance greatly affects overall performance of the company, especially a big one.  If a corporation consists of various departments and business units it is very important how personnel is managed, and whether or not human resource goals comply with strategic goals of the company.

Implementation of balanced scorecard is possible on the level of a human resource department.  Moreover, some companies prefer starting work with balanced scorecard on a department level to see how things work out.  If such companies have a positive experience in implementation of balanced scorecard then the system is implemented on a larger scale.

Satisfied employees have satisfied customers

Anyway, goals and measures of balanced scorecard should be tied to a strategy.  In other words, when drawing a strategic map, it should be evident how improvements in human resource management result in implementation of different goals in the four perspectives of balanced scorecard: financial, customer, internal business processes, learning and growth.

In other words, company management must understand how reorganization and measurement of human resource department will affect performance of the company in general.  For example, in order to achieve positive financial results in the company needs to attract more customers and to retain existing ones.  To achieve that, new approaches in customer relations must be used and the company should offer new products and services at competitive prices.  In its turn, this is only possible if personnel can actually use these methods.  Obviously, the company needs the best professionals in a certain area to gain competitive advantage.  This set of cause and effect ties vividly demonstrates how improvement in human resource policy results in implementation of financial goals.

Major HR tasks

If balanced scorecard is isolated in a certain department, it may turn out that different business units are moving different directions.  A strategy map is a well balanced system containing measures and goals related by cause and effect ties throughout BSC categories.

For example, such an indicator as employee turnover rate may directly influence sales growth of the company.  If people do not want to work for a company for a long time they are probably not even their best efforts to benefit the company.  This explains low sales growth rate.  This is just one of the various examples of how balanced scorecard can visualize company strategy and make it understood at all company levels, from top management to ordinary personnel who directly contacts with customers.

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Recently released BSC library reviews some really useful ideas about using of Balanced Scorecard in HR. Learn more in the HR section of the library.

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• Buy full version of BSC Toolkit for HR for $298

Please note: HR scorecards are also available as a single products in our commercial library of KPIs.

The full version includes:

• 15 HR Balanced Scorecards in total 232 KPIs for HR delivered as .BSC and Excel;
• BSC for HR – 29 pages e-book delivered as PDF file;
• HR life-cycle – 26 pages e-book delivered as PDF file;
• Download the trial version before placing order;

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BSC Toolkit for HR (“the document”) is not free document. You may use a trial copy of the document for evaluation purposes without charge.

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The BSC Toolkit for BSC includes:

• 15 HR Balanced Scorecards delivered as .BSC and Excel files, balanced scorecards for various areas of HR including KPIs for recruitment, staffing, training, staff development, employees turnover, talent management, motivation, retention;
• Each scorecard includes 12-16 key performance indicators, in total 232 key performance indicators for HR.
• Download the evaluation version of the scorecard.

General HR

• HR Balanced Scorecard [16 key performance indicators]. HR Balanced Scorecard helps to measure and improve performance of HR department.
• HR Hire Balanced Scorecard [18 key performance indicators]. HR Hire scorecard allows to measure and control performance with scorecard indicators.
• Training Balanced Scorecard [18 key performance indicators]. One can make use of BSC i.e. Balanced Scorecard to align the training sessions more usefully.
• Retirement Scorecard [16 key performance indicators]. KPIs in Retirement process takes into consideration both financial and non-financial measures to make sure that the overall process is initiated with ease.

Management

• HR Outsourcing scorecard [15 key performance indicators]. Implementing a metrics program on both ends of the outsourcing process is crucial because outsourcing has a relatively high error rate during its early years..
• Leadership scorecard [17 key performance indicators].In leadership KPIs can be categorized under People Initiatives, Collaboration Initiatives, Broad Organizational Initiatives and Professional Success Indicators.
• Motivation scorecard [17 key performance indicators]. KPIs in Motivation are as important as in any other organizational aspect and can be seen from four perspective- Growth and Development, Compensation, Non-Monetary Compensation and Intrinsic Factors.

The full version includes scorecards in a native format of BSC Designer and BSC Designer Light to open these files.

Productivity

• Time management scorecard [14 key performance indicators].Time management skills helps a person identify and focus on the activities that provide the greatest returns. Investing in these activities will not only save personal time, but will help a person work smarter, not harder..
• Work Productivity Scorecard [13 key performance indicators].The goal of your company’s staff should be a singular product that everyone can work towards on an equal basis, in order to efficiently, and productively manage internal affairs so that the best possible outcome is consistently achieved.

Talent Management

• Innovations Scorecard [11 key performance indicators].Measure and improve performance with Innovations indicators and metrics

Training

• Certification Scorecard [16 key performance indicators].With the help of financial and non-financial measures such as KPIs, the organizations are able to identify the key success factors to develop a potential edge over others in the industry.
• Education scorecard [14 key performance indicators].Quantitative indicators can be used as a foundation for evidence-based policy in education. This requires the careful use of statistical methods and a set of designed comparisons.
• Training and Development Scorecard [15 key performance indicators]. Measure and improve performance with HR Training indicators and metrics.

Compensation

• Awards Scorecard [16 key performance indicators]. Assessing the performance of employees in a right manner requires an appropriate framework which helps to assess the performance from various aspects.

Finance

• HR costing and accounting scorecard [16 key performance indicators]. Proper monitoring of expenditures incurred and investments made in one of the valuable assets of the organization, i.e. human resources, and its outcomes is very essential from organization’s viewpoint as well as from the customer’s perspective.

expert HR Scorecard Metrics hr, hurman resource, kpi, scorecard

Measure and improve Human Resource (HR) performance with HR Balanced Scorecard for Excel

How to measure, control and improve the performance of HR department with Excel HR Balanced Scorecard.

• Download trial version of HR Scorecard Metrics
• Order full version of HR Scorecard Metrics
• Check HR Toolkit: 9 HR KPI Metrics for Excel
  

This scorecard has some key metrics that will help with measure and control of the performance of HR department. Integrate scorecard into the Human Resources Management (HRM) process by making it a part of your Human Resources Information System (HRIS) system.

Measure HR performance with HR Balanced Scorecard for Excel

HR Scorecard KPI is a great way to control how the HR department is performing in your company. Managers from HR department can learn their specific from indicators, while CEO can focus on global performance indicators, such as response quality and response time.

• Download trial version of HR Scorecard Metrics
• Order full version of HR Scorecard Metrics
• Check HR Toolkit: 9 HR KPI Metrics for Excel

HR Scorecard Screenshots

Metrics for HR Measurement. This is the actual scorecard with HR Metrics and performance indicators. The performance indicators include: “Cost per Hire”, “Turnover Cost”, “Turnover Rate”, “Time to fill”, “Length of employment”.

HR Scorecard in Excel

Key Indicators in HR Scorecard for Excel

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If you are looking for Balanced Scorecard or Business Performance management consulting then we can help you. Fill in “interested in consulting” form and we will contact you with consulting offer.

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Setting Attainable Departmental and Corporate Goals Using Balanced Scorecard
Management of people is a critical job that entails many roles at various levels. When business entities are formed, staff and workers are hired to get the work done. But the real task comes in when the personal goals of the people are combined with that of the corporation which is the essence to building powerful commercial elements.
To what degree is a firm successful in developing cohesive moves, developments and strategies depends on, how controlled and planned its systems are. Better planning of systems ensures better understanding of what the present needs, expectations and targets of an organization are and how its motives will shape up to be in future. These unified goals however, vary from department to department where the nature of jobs and tasks also differ significantly from one another.
So, how does an organization then set its goals to match the fast paced era of today? The answer lies in real-time data computerized support systems like Balanced Scorecard. How it works is very simple. It allows team leaders to determine what can be acquired within a specific period of time to set worthwhile goals keeping in mind that management productivity should keep up with the pace of organization requirements.
Balanced scorecards makes goal setting task an interactive activity and allows the team leader along with the team members to set genuine targets based upon experience, previous performance, nature of project etc. as the ‘indicators’. These indicators have numerical values and are used as a measure and control concept and help evaluate the performance of any department or unit. The condition for each indicator to carry a value and be non-repetitive is mandatory. It can be defined in terms of score, value or some scale making it easy to construe results. These indicators can then be categorized into groups which may vary from business to business and division to division. While creating indicators or metrics what should be focused on, is the solution-based approach and how it will affect the business functions like customer relationship, finance etc.
If the goals are set involving the staff or team, it becomes a strong device of motivation as workers feel empowered handling and setting the targets for the work assigned to them. It also helps building trust for the organization within teams and instills “self-accountability” to settle in defining the level of achievement while simplifying work atmosphere at the same time. Also, the results attained through this software are accurate, unbiased and easy for comparison. It reduces time spent manually, drawing and re-drawing data for the purpose of sharing it with others who are then bounded by the strict review and modifying schedules. Contrastingly, this system when integrated as the Human Resources Information system allows management to view results on their own system for feedbacks and thus saves time of manual distribution.

expert_rwt Uncategorized hr, management, requirements

Interviewing, after screening potential candidates, happens to be the first and for some firms the final step towards selection of applicants. An interview not only gives the candidate a chance to prove him or herself but also enables the firm to gauge them accordingly. Hence it should be a meticulously detailed activity.

With the fast paced corporate requirements, the managers have little time in hand to formulate specific interview sheets for positions individually. Despite being a handy tool it is not very commonly used to its true form and function. What departmental heads and HR personnel indulge in is firing ad hoc questions at the interviewee on their big day rather than basing them on in-depth conversations to test their knowledge, skill and performance.

Preparation has never hurt anyone and being well prepared is half way through success. What managers and departmental heads today need is an integrated support system into their human recourses information system with the help of which they can design personalized interviewing sheets in-line with departmental and organizational goals rather than randomly developing bullets before an interview and then noting down results personally.

One such system is Balanced Scorecard that allows managerial skills to merge with quantifiable data. Each department head or the interviewer can generate their own interview sheets upon identifying the factors or ‘indicators’ to judge the applicant on. These may include confidence, communication skills, ability to work with team, service oriented, dependability, appearance and many more. Each of these attributes is given values that signify the minimum and maximum limits to make the task easier for interviewer who can base the questions on these attributes and then rate the candidates accordingly.

Balanced Scorecard allows taking on an integrated approach to the task of interviewing that helps discipline, organize and plan a system that is easy to study, control and improvise.

These predetermined indicators of questions identified, help yield valid data that save the most valuable asset of today i.e. ‘time’ and also make comparison, compiling and extraction information a much easier task. It also helps increase the likelihood of obtaining useful information in making the selection decision for the organization and the management team.

This also saves time for the selectors to go through the resume or CVs which they hardly get time to do so before and base questions and indicators related to the missing gaps, discrepancies and experience of the candidate along with other organizational requirements.

A good interview not only leaves the candidate feel aptly challenged and satisfied but also instills the feeling of goodwill for the company. This powerful tool enables to view the results objectively as they are not concluded as personal notes but are based on numerical grading. Thus enabling the managers to find the closest fit to the prerequisite of the position vacant, departmental and organizational targets with clarity of what to expect and test of the candidates.

expert_rwt Uncategorized hr, management, requirements

The art of management is not an easy one. It involves the process of achieving organizational goals engaging in functions as planning, organizing, leading and controlling. Managing the workforce is even more difficult. This task is an on-going activity interrelated with constant vigilance at all levels.

This vigilance or performance evaluation of employees is crucial to the organization as it influences the phenomenon of reciprocity amongst the organization which signifies that individuals anticipate that there actions will be reimbursed one way or the other by the organization. Since corporate entities have to deal with human expectations to meet and exceed them with humans evaluating them the process is prone to subjectivity which marks it as one of the most difficult of tasks.

However, since the time numbers have been invented mankind has come to know the power of miracles. Isn’t it just wonderful to identify the important inputs in a situation once, assign them maximum and minimum limits to be achieved and then rate the actual occurrences to gauge the degree to which they have been successful?

Well, in today’s era Balanced Scorecard is one of the leading softwares that merges the magic of numbers with that of effective management, using its dominant feature of ‘indicators’ or ‘metrics’ that measure and control the performance of HR department and can be integrated into the human resource management system for a holistic approach to performance evaluation of employees.

This helps each department of the organization to personalize the performance indicators according to the departmental goals and makes tasks more specific to be accomplished while the higher management can focus on larger perspective of performance.
Performance evaluation is a critical task which requires efficient, specific and sophisticated technology to attain accuracy in results. Softwares like Balanced Scorecards identify the symbolic performance indicators like attendance, productivity hours, length of employment, turnover rate, turnover cost etc. that are assigned numerical values to track the changes occurring at every step. This quantifies the data and it can be viewed and analyzed easily saving the most valuable resource of time for all.

Such a support system with integrated Performance evaluation tools provides meaningful performance feedback and enables ease of analyses for job improvement. It also assists by laying out a plan for future career development, identifying resources and tools and recognizing personal achievements. The use of strategy maps in this software serves as a formal documentation of numerous actions such as training, performance and improvement needs, recognition of goal, actual performances, reward system, job redesign, and discipline. It identifies the potential in employees and building the resource pool for the organizations. It bring to life the past performances though its active visualizations and lays a roadmap for future assigning the goals, strategies, missions and services needed of them while reinforcing a sense of accountability.

expert_rwt Uncategorized hr, management, requirements

So what if an organization has hired the best of the applicants as employees to achieve the corporate goals and find the strategic fit among the business units. The real acid-test is deriving work that is in-line with the organizations beliefs, ethics, targets and goals while being unambiguous, explicit and aptly skill stretching for those hired as well.

Different jobs encompass assorted activities. For instance departmental store sales personnel can be involved in, being up-to-date about items in assigned departments, stacking merchandising, help customers and registering sales etc. Therefore, work specialization comes into play that defines the degree of work essential to accomplish organizational goals. The purpose of which is to make sure that both the employees and organization are working synonymously for a unified cause.

For this purpose ‘Job Descriptions” are developed which specify activities and tasks associated with jobs, signifying not only in terms of efficiencies, knowledge and skill pool but also in motivational terms that ensure work to be pertinently challenging and stimulating. This helps increase employee understanding of task expected and cuts back mental overload, errors, underachievement and lower efficiency.

Formulating a compact job description (JD) is a time-consuming and arduous exercise usually the one which HR personnel dread. Also most of the time the attributes defined in a JD reflect subjectivity of its creator thus, completely obscuring organizational targets leaving even the highly skilled staff unclear about organization expectations and branding them as underachievers. To avoid this ill-fate, support systems like Balanced Scorecard can act as powerful strategic tools.

This support system allows identifying tasks expected from an employee to be listed in a JD as “indicators” or key metrics with numerical values. The assigned values define the level of competency to be achieved as performance indicators. The management keeps a check on employee performance and rates it based on task indicators. The results of evaluation can be recorded in scorecards and viewed in strategy map for comparison later on, which helps make the lives of HR personnel a bit less miserable.

Such a system helps employees plan and control better the work involved in their jobs, understand the worth of their tasks assigned to the organization, allows them to feel autonomous, derive greater satisfaction of growth need and most of all clarity in assigned roles.

Management on the other hand can benefit by curbing redundancy and hectic routine involved in brainstorming and developing JDs for similar positions. Also the quantified results obtained through scorecards and rating system makes evaluation a quick, accurate, reliable and objective affair. This also helps sorting the achievers from those who need training.

Softwares like Balanced Scorecard shape the quality of a firm by structuring organization and its work efforts, organizing activities, putting together stronger management teams, assembling required (identified) competencies and capabilities and processes conducive to success strategy execution which happens to be the first cornerstone of organization building task.

expert_rwt Uncategorized hr, management