Articles - Scorecard Metrics for HR

The Decision to Hire MBA Execute for Top Manager Position

It can very well be beneficial for a company to hire MBA execute for top manager position. This person is equipped with knowledge and skills needed in executing performance management.

When it comes to hiring people for top managerial positions, wouldn’t it be better to hire an MBA executive? Really, the decision to hire MBA execute for top manager position just might be the key to have management in its most efficient for your company or enterprise.

We all know how important performance management is when it comes to the success of an enterprise. Performance management provides the three key values that are geared towards production and progress – information delivery, performance supervision, and effectiveness of performance. You may wonder to yourself, what is it about an MBA executive that makes him or her the better choice for top management positions to do performance management then? This is precisely because MBAs are equipped with sufficient knowledge in the implementation of essential approaches towards successful performance management.

Taking into the consideration the different approaches, these are the behavioral approach, the comparative approach, the strategic approach, and the heuristic approach, just to name a few. Across these approaches, you will surely find certain distinguishing characteristics. However, there will certainly be similarities as well. These similarities are:

1. The performance data delivered by all of the abovementioned approaches are complete, consistent, and timely. This means that all approaches are reliable in the provision and delivery of accurate data.

2. All approaches promote the importance of the “can do” mentality amongst all employees. This means all approaches are geared towards self-encouragement and motivation in all employees.

3. All approaches see to it that every individual organization in the company or enterprise exercises accountability. This promotes responsibility across the many departments a company may have, no matter how independent or dependent they are from and with each other.

4. Performance management reviews are being practiced, with emphasis on being concise and specific across approaches. These management reviews aim to be challenging on the part of the employees while being supportive to the goals of the company at the same time.

5. Transparency is practiced when it comes to setting guidelines pertaining to the giving out of sanctions. The same practice is observed across approaches when it comes to the giving out of rewards to employees delivering exceptional performance.

To incorporate these characteristics, it is important for businesses to apply the different solutions to performance management in certain portions. With such portions, it is easier for performance management to be visible, as needed. The performance of the organization is then controlled more efficiently, thereby making the business even more responsive to whatever changes that may occur in the environment.

You also have to be careful when it comes to the activity of choosing the tools that you will use for performance management. These tools should be specific and fitting to the structure, culture, and strategy that characterize your company. With clear communication, strong reinforcement, and precise modeling, the performance culture you long to establish is within reach.

The decision to hire MBA execute for top manager position will surely be beneficial for any company since this person is highly qualified to do all of this and more. With much background in the approaches mentioned above, your MBA executive just might lead your business to great heights.

The Importance of Access to HR Performance Management Tools

With access to HR performance management tools, monitoring the goings-on in the HR department itself would be easier. This helps keep things on the right track.

It is easy for a lot of companies to overlook the importance of their very own HR departments. This does not really mean that these companies overlook this department on purpose. This can just be attributed to the fact that there is that common misconception that the HR department’s sole purpose is merely recruitment and selection. However, there is just so much to this department that many people do not really see at first bat. For starters, the HR department handles the training of the supervisors and team managers that who handle the frontliners in the company. It is also the HR department that handles and develops the compensation and benefits packages that all employees enjoy. Thus, there is indeed a need to incorporate performance management in the HR department. And if there should be access to HR performance management tools, it should be on the HR balanced scorecard.

The balanced scorecard approach is actually the ideal to use when you want to determine the performance of the HR department. This is because the balanced scorecard contains quantifiable figures called KPIs or key performance indicators that measure the present performance of any department against corporate goals and objectives. It would be very difficult to measure something that is not quantifiable in nature so this is the primary purpose of KPIs, to give a quantitative representation of qualitative data.

Aside from that, the balanced scorecard and its KPIs are ideal to use when determining the appropriate solution to any existing problem within the organization. This is actually one of the very important roles that the balanced scorecard plays. Think about it: the KPIs are used to determine how the HR department is doing when it comes to the goal of, say, employee retention. If the balanced scorecard shows that the company is not doing well in terms of employee retention, then the facts and figures can then be analyzed and represented, to determine the proper course of action.

There are several KPIs or metrics that can be used to assess performance management of the HR department, aside from employee retention. One of these is job satisfaction. As expected, job satisfaction would be related to employee retention, for employees would not stay employed in whatever company or enterprise if he or she were not satisfied with the job. Turnover rate is another KPI that is related to employee retention, and is something that the HR department should focus on as well. If the turnover rate is high, this means that there are a lot of employees leaving their positions at a quite premature time, and this is a strong indication that there is something wrong in the hiring and recruitment processes that the HR department makes use of. Perhaps the department is hiring the wrong people unintentionally? Whatever the reason may be, this is still a KPI that measures HR performance management.

In itself, there should indeed be access to HR performance management tools so that it would be easier to determine if the HR department is using any practice or procedure that hinders the progress and productivity of the department itself and the organization as a whole.

Key aspects of human resource management

Great all-in-all review of all possible aspects of “life-cycles” in HR niche. The set of articles discuss all possible aspects of HR from searching perspective candidate to retirement plans. The review covers the key topics in HR management and how to keep business performance while your company hire new people or someone leave company.

An example of Balanced Scorecard

They say, that it is better one time to see, so here is the Balanced Scorecard Example, this is an “Overview” report type which was generated with Balanced Scorecard Designer. The report contains information about top-level indicators and categories from the HR Hire scorecard.

This balanced scorecard report is for presentation purposes, if one need to have more detailed report the “Advanced Balanced Scorecard Report” is available.

Managing Employee Measurement

In every workplace, it is important to assess how employees perform. This is the only decent or acceptable way to reach out to the employees and inform them of their shortcomings and the good things they have done for the company. The problem is, not all companies have standard processes for employee measurement. It is too bad that some employees are laid off for reasons that are not substantiated. These employees are often victims of bias and poor management. In relation to this, poor judgment, unclear company policies, and undocumented occurrences of infractions are just a few of the many causes of poor employee assessment.

There are several ways to measure an employee’s performance. First off, employees are expected to work. This should be made clear to them and there should be a clear set of guidelines of what is tolerable attendance behavior is from not. There has to be a policy on how many absences are acceptable. You may add to this the number of occurrences for tardiness an employee is allowed to incur for a certain period of time before he is issued a warning. In relation to this, memos and the frequency of serving them, plus the criteria for serving them, should also be included in the attendance policy. Another thing that can be added is a rolling period for employees. A rolling period is a certain amount of time that the employee must show attendance improvement, after which, his records will be cleared of any negative warnings and memos.

Another thing that one can measure in terms of performance management is productivity. There are many ways to measure this and this greatly depends on the industry. For manufacturing industries and factories, the common type of measurement used is output. Employees are expected to finish a number of products in a day. In the sales industry, the common basis for productivity is sales. Salesmen are measured based on the sales they have generated per day, per week, and per month, this is commonly called quota.

Another major thing that can be measured is behavior. Form country to country, or even city to city, there are certain social norms that employees must abide to. The difficult part about judging behavior is its non-objectivity. Judgment on behavior, more often than not, is pretty much affected by perception. Admittedly, no one can establish a complete policy about acceptable behavior, let alone behavior that will not be tolerated. In essence, the handbook should specify as many actions that the company will not tolerate, such as gambling, fighting, horsing, loitering, destruction of company properties, vandalism, etc.

Keep in mind that when you make these policies, ensure that the policies are aligned with existing labor laws. Employee measurement is something that should never be taken lightly since this is an indicator of the employee’s future in the company. This is also a great factor in motivating employees to achieve more—knowing that their efforts are being recognized and that management is watching closely as to how they will perform. Of course, performers should be rewarded and non-performers should receive appropriate attention.

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Automation for HR specialist

People in HR, as well as other people who work with computer face sometime routine tasks that they wish they could automate. For problems are easy to automate, for instance, you can create blanks for some processes that will make your life easier, but there are always routine tasks that require a lot of time and can be hardly automated.

If your goal is to fill forms on career sites, then filling the form again and again can be a really routine. But you can always use some task automation tools, that will help you to fill in necessary data, select necessary options in check lists, finally giving you more free time for real HR job.

The tool called Routine Bot was released by AKS-Labs. This application was primary designed for software engineers who going to test the application again and again, but also it is a powerful routine tasks solver. Learn more how it helps with solving routine tasks.

Typical Factors on the HR Costing Scorecard

The Human Resource Department (HRD) is indeed one of the departments in the business that would fall in the background. This is because the HRD is not really that visible, as when compared to the Managerial department or the Accounting department. However, what a lot of people fail to keep in mind is the fact that in spite of the HRD being in the background, it still plays a very important role in the overall success of any business. This is because the HRD is the department that handles the most valuable asset any company can have, and that is, its workforce, its very employees. This is precisely why there are indeed costs entailed in running the HRD, and to determine the efficiency of the department in running these costs, it is but apt to implement the HR Costing Scorecard.

You may be wondering to yourself, is there really a need to implement such a scorecard? There have been so many theories and studies conducted about the implementation of the balanced scorecard. These studies clearly show that there is much promise in the role that the balanced scorecard plays. However, it is quite easy to ignore this importance and significance of the balanced scorecard as a managerial tool in the HRD. Add to the fact that the costs entailed in the HRD are not too visible in nature at all.

The HRD handles people, right? Just how do you quantify human value here? How do you quantify the value or the worth of a particular employee? There are so many factors at play here that it is quite difficult to place a numerical figure on the worth of a certain employee, let alone the thousands of employees under the wing of, let us say, a multinational call center. The typical call center would be handling a number of accounts, which means there are hundreds of employees for these accounts. Now, learning is a lifetime process, so there would inevitably be a need to hold training sessions or programs for the call center representative, to enhance their knowledge and skill sets. This alone is already an expense that the HR has to deal with. Costs are entailed in hiring the trainer, for instance, as well as in booking the venue, plus the food and beverages offered to both the trainer and trainees. These are visible costs; however, the return of investment, or ROI, would be intangible here. This is because the ROI here would be dependent on whether or not the trainees are able to assimilate the new knowledge and skill set that comes after the training program. This should then be included in the HR Costing Balanced Scorecard.

This is just one of the many costs that the HRD has to deal with. Other costs would pertain to the new hires themselves, with retention in mind. The thing to look for here is the percentage of new hires that make it through the probationary period and achieve regular status. As for the regular employees, you should also look for the percentage of employees who have been promoted to higher positions. Performance appraisal is another aspect you should include on the HR Costing Scorecard.
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The Need to Implement HR Costing Metrics

Each and every department in any business would always have costs to contend with. The HR department is no exception here. It is quite easy to assume that the HR department is devoid of costs, since the costs here are not all that visible, like that of the accounting department, or the IT department. Still, the HR department has costs and expenses, which should be analyzed to ensure that there is promising return of investment here. After all, the HR department is that division of the company that deals with the employees, the very human assets of the company. Thus, there should be a formal system to determine the return of investment for each cost the department makes. And for this, there has to be certain HR costing metrics to be implemented.

Of course, it is easy to assume and even say that the HR department does not really entail that many costs. This is because the department itself actually operates more on the background. But if you really think about it, if you get down to the nitty-gritty roles of the department, you will soon see the many costs that the HR department has to deal with every single day.

For instance, the mere activity of hiring new people entails a lot of costs already. Let us place this in the context of call centers, for instance. The call center industry is just laden with a lot of stiff competition nowadays. One call center offers such an attractive compensation and benefits package. But do not sign that contract right away because there just might be another call center that can match, or even better, that offer! Thus, the HR department of any call center would have to come up with the most attractive compensation and benefits package to grab the attention of potential employees. And how else can the department do that? By conducting research, studies on the preferences and current trends of call centers in the industry. This obviously entails costs for the department.

And if that is not enough, what about the many times that the HR department has to hold job fairs? Booking venues clearly entails a lot of costs already. How would you determine the return of investment here? A number of factors would have to be considered, such as the percentage of people hired over the span of the job fair, the percentage of these new hires that can make it to the probe status, as well as the ones who can achieve regular status after the probationary period. All of these should be included on the metrics scorecard.

As always, the number of metrics to be included here should be pegged at a minimum. It would seem sensible and even tempting to include many aspects as metrics here, but do not give in to the temptation. This is because it would only make the analysis and interpretation of the acquired data all the more complicated. Thus, your HR costing metrics should be pegged at a minimum still. If you are not too sure about the factors to include as metrics here, do not be alarmed. There are so many sources that you can check, as a guide to implement the different metrics that are ideal for your business.
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Pertinent Facts about Balanced Scorecard

The Balanced Scorecard is a tool businesses should know how to use. By applying key concepts here, growth in terms of performance and productivity should not be hard to achieve.

There are many theories and such that have emerged in the world of business over the years. And this is far from coming to an end because at this very point in time, there is surely another emerging business theory being put into practice at just about any area of the world today. However, amongst all these theories and concepts, a select few just might be effective as to the results that they bring for their respective companies and organizations. One of these is sure to be the Balanced Scorecard. Yes, you may have heard about the tool in theory, but you just might not know everything there is to know about the tool itself. Here are some facts about Balanced Scorecard that you should be aware of.

Just like any other tool that is being used in the world of business, the Balanced Scorecard has adjustable properties; all of which are made adjustable and modifiable to suit the individual and collective needs of businesses worldwide. In spite of this, though, the Balanced Scorecard operates in the same way in terms of its application. Even if you run just a small business or a fairly huge one, the same concept underlies the application of the tool itself.

Firstly, the Balanced Scorecard begins with the mission statement. This mission statement has to be stated exactly, concretely, and precisely. What’s more, the mission statement should be shared by every single member in the organization. Thus, you have to make sure your mission statement is well-worded because everything else in the process depends on this.

The second thing you should pay attention to is your financial balance or your cash flow. This is one of the first things that the financial stakeholders of your company would look for in your Balanced Scorecard. Thus, the figures here should also be as accurate as possible. Think of this as your company’s financial target, so to speak.

Thirdly, you also have to pay attention to the reputation of your company or organization itself. Just how do you want to appear in the eyes of customers and clients? Or perhaps, in the eyes of your beneficiaries? Image is very important here because you just cannot deny the fact that first impressions do count, even if they do not really last. Thus, prepare a brief but concise description of your organization, in the very image you want to appear in your customers’ eyes.

The fourth thing to look into pertains to methods and processes the company must undertake to keep the stakeholders happy and content. Brainstorming is very important during this stage because you have to take into consideration all processes needed to satisfy your stakeholders here. From the bottom of the chain of command all the way up to management tasks, all of these aspects will have to be taken into thorough consideration.

The fifth aspect involves planning. Planning takes place in the form of figuring out the courses of action to be undertaken to achieve the vision of the company itself. What would it take for all employees from all divisions to work productively together?

Lastly, you need to elaborate as much on the specific KPIs that are used on the Balanced Scorecard. In this way, the system is actually made more open to critical appraisal from all members of the organization. And since this is a continuous process, the application of this final step would indeed help in developing an efficient system. Just focus on these facts about Balanced Scorecard to get there.

Key Performance Metrics as Business Performance Indicators

Having performance metrics as business performance indicators is a huge advantage for any company or organization. This is because the indicators show a company’s status towards achieving corporate goals.

If you are in the world of business, then you surely must have heard about performance metrics at one point or another. This is because companies can make use of performance metrics as business performance indicators. Simply put, we can use performance metrics to check on how the business is performing, especially in terms of growth and productivity.

Another term that can be used in place of business KPI is the business KSI or key success indicator. These are created for the sole purpose of measuring the performance of a business when compared against organizational goals and objectives that have been originally set by the business itself upon its foundation. Once the aspects aligning the performance of the business are measured, it would then be easier to identify where exactly the business currently is towards the realization of these corporate goals and objectives.

Upon the analysis of a business’s mission, there would come a need to name the very people behind the business itself. These people would be the business’s stakeholders and even the founders themselves. But when the goals are stated out loud, then the business would inevitably be ready to identify and define the methods that it will use in measuring its current progress towards the realization of corporate goals. These are then the business performance indicators at play.

There are certain characteristics you have to look for when selecting which KPIs to use for your business. Bear in mind that these have to be relevant KPIs because it would not make sense to use KPIs that are not relevant to your business, as well as your goals and objectives. Also, you have to remember that these KPIs are not goals per se. these are just quantifiable aspects that are set up to make clearer the status of the company against its goals and objectives. This is precisely why the identification of goals has to be done before the KPIs are developed and set up. The goals serve as guiding forces in this endeavor.

Furthermore, the KPIs have to be predetermined because it would not be worth your while to do this at a later time only to find out that the goal for a particular KPI has already been met or achieved. In the same setting, if your organization is not quite sure if it would be able to tell whether or not their goals would be achieved, then it would be senseless to come up with these KPIs. Thus, predetermination is a must here.

Lastly, there might come a time when your goals would become narrowly defined, especially when the organization gets closer and closer towards achieving certain goals. This does not mean that the business performance indicators should be modified significantly during the company’s progression towards the goal. Remember that the performance metrics here have been predetermined already, and this means they represent measures indicating progress. Since this is the case, then there really is no need for the company to modify these measures. As tempting as it is, your business performance indicators should remain as they were from the very beginning.