The way the company manages its personnel predetermines company success. The recent decade proved that intellectual capital and intangible assets are all important. Employees of the company are those people who drive it to strategic goals, solve problems, introduced innovations, make important decisions etc. Management of personnel is called human resource management. At the same time HR management begins even before a person is employed with the company. Recruiting and headhunting has become extremely popular, especially in highly competitive markets. Human resource management, as any process in the company, should be constantly measured. HR managers do not produce anything, and thus they do not earn money but only spend it to recruit, employ, educate and retain personnel. Thus, investments in human resource departments should pay back in future. This is where Balanced Scorecard system is used. First, BSC aligns HR tasks and goals with the general strategy of a company. Secondly, balanced scorecard communicates strategic management and operational activity in HRM.
It is not a secret that different employees in different business areas require different approaches. This is explained by specific nature of the work, company strategic goals and the markets the company operates in.
HR management evaluation in the field of Arts &Entertainment is very different from those of other business areas. Arts &Entertainment is all about creativity. Artists, singers, designers, cameramen, anchormen and other professionals value freedom and creative approach to work most of all. That’s why they should be evaluated different. What indicators are relevant here?
- Job satisfaction index. And entertainment professional will never create a masterpiece if he is not entirely satisfied with the work and what he is doing in general. That’s why, job satisfaction is extremely important. Job satisfaction index is measured through surveys and questionnaires. What is job satisfaction all about? Well, this is satisfaction with working conditions and satisfaction with the contents of the work (what entertainment professional is doing). If a singer or an anchorman does not like what he’s doing this will be just the mediocre performance that no one will really like it. Thus, employers should always discuss directions of work and general approaches. It is advisable to conduct such surveys not too often.
- Average sourcing cost per hire. It is not easy to find entertainment professionals and artists. That’s why sourcing costs per one employed person may be very high, and the ultimate goal of human resource department is to keep such costs low. It would be good if the company working in the field of Arts &Entertainment is well reputed and thus it doesn’t need too much if advertising to attract new professionals. Sometimes, existing employees recommend their company to their friends who then want to work for this company. Personal connections in the showbiz will also be very helpful for HR managers in this business area.
The above mentioned key performance indicators for each eye valuation in Arts &Entertainment area crew that HR managers need to adopt a special approach to people working in this field as they work not with their minds but with their souls.