KPI Name: Unemployment Balanced Scorecard Metrics
Related KPIs: Social Security
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Description by authors:
It goes without saying that unemployment is one of the greatest roadblocks in any economy’s growth path. Removal requires arranging substantial amount of funds for offering either the ‘immediate relief’ or ‘providing job to earn their living on own’. Social Services Organizations shoulder this responsibility by running schemes for various target groups of society that require employment. Various challenges standing in the way of such organizations make it necessary to structure a scorecard to draw all aspects ‘that matter’ together.
The perspectives that can serve the purpose relate to- Strategy, Finances, Internal Operations and Success Evaluation.
The indicators for Strategy Perspective are- Policy Alignment, Number of people who were provided employment: Total registered people, Target Groups, Percentage increase in full-time and part-time employed people.
Internal Operations can be had with KPIs like- Frequency of Surveys, Employment Time lag, Mismatch between ‘expectations’ and ‘reality’ and number of factors considered for deciding the pay scale.
Financial Perspective can be analyzed with indicators such as- Training Expenses Incurred, Number of funding sources, fund utilization ratio and Research Share.
Finally, the success assessment is possible with ‘Cost of Living meeting’ ratio, percentage increase in funds and number of registrations.
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