POST GRADUATE DIPLOMA IN HUMAN RESOURCE MNGT. – 2009MAHATMA GANDHI LABOUR INSTITUTE
Group Members ALPESH SHARMA AMIT RAVAL BHUMI PANCHAL NISHANT BRAHMBHATT PALAK JOSHI RAJVRAT GADHVI
Definition: The Balanced Scorecard is a management tool that provides stakeholders with a comprehensive measure of how the organization is progressing towards the achievement of its strategic goals. - QIP, California State University
BALANCE SCORE-CARD COMMUNCATION TOOL MEASUREMENT SYSTEM STRATEGIC MNGT. CALLED AS SYSTEM
BALANCE SCORE-CARDComprises – Financial and non-financial Measures Short – long term measures Performance drivers Data based Org. performance picture Help to strategy & alignment
MEASURES should :•Translate customer expectations into goals. Operate• Evaluate the quality of processes. Business• Track our improvement. Change Process Support• Focus our efforts on our customers. Optimize• Support our strategies.
INDICATORS LAGGING MEASURES LEADING MEASURES Revenue / Employee Competitive Index Budget variance Engagement Index HR cost factor indices % Training delivered LDP benchstrength Critical skill attainment 5 Benchmarking 5 Internal Promotion Rate ranking
TARGETS ALL MEASURES SOLID BASIS GIVE SOMETHING FOR AIM TRANSFORMATIONAL