Balanced scorecard
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The document discusses the balanced scorecard, which is a strategic planning and management system used in business. It provides a framework for translating an organization's mission and strategy into a comprehensive set of performance measures. The balanced scorecard includes financial measures and also operational measures related to customer satisfaction, internal processes, and organizational growth and improvement. Using a balanced scorecard helps management focus on key measures across business areas and aligns employees to work toward common strategic goals.
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A balanced scorecard (BBC) is a management system and strategic planning performance metric that organizations use to identify and enhance different internal functions and their external outcomes. A balanced scorecard was first introduced by Robert Kaplan and David Norton in 1992. They took previous performance metrics and reformed them to incorporate nonfinancial information. This paper will, therefore, evaluate the purpose of a balanced scorecard, recognise the categories on the balanced scorecard, defend the significance of a balanced scorecard, and, lastly, design a supplemental graphic of a balanced scorecard.
Purpose of a Balanced Scorecard
BSC has several purposes. Organizations can use BSC to communicate what they want to accomplish. They can also use a balanced scorecard to prioritize products, services, and projects (balancedscorecard.org). Besides that, they can use the balanced scorecard to monitor and measure progress and to align the everyday work that every employee is doing with the company’s strategy.
Many large companies all over the world use the balanced scorecard. More than half big companies in Asia, Europe, and the U.S. are using a balanced scorecard, with the use increasing in those areas as well as Africa and the Middle East. According to recent research, BSC is among the top ten mostly largely used performance metric around the world (balancedscorecard.org). Harvard Business Review editors have also selected BSC as one of the most influential management tools of the past seventy-five years.
Categories on the BSC
Traditional Categories
The four categories of BSC are customer, learning and growth, internal, and financial perspective. The financial perspective is normally traditional measures. They usually seek to answer the following question: how should an organization appear to shareholders in order to thrive financially? Financial measures usually convey the economic results for the specific actions already undertaken by the company and focus on measures that relate to profitability (Malgwi & Dahiru, 2014). Under financial perspectives, the most common measures used include Cash Flow, Revenue Growth, Net Operating Income, and Return on Investment. Financial Data such as expenditures, income, and sales are used to understand and evaluate financial performance.
Communication Flow
The content of an organizational BSC must be communicated to all stakeholders in a clear, timely, correct, structured, complete, and honest manner to arouse company-wide commitment and to gain buy-in for it. When the BSC has been communicated in this manner, the entire company will realize the significance of continuous improvement, strategic thinking, learning, and personal development.
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HR professional.
Aligning HR Goals & Corporate Objectives for Greater ROEI
A company is only as good as its workforce. A company does not generate ideas, does not give service, and by itself is neither efficient nor productive. People make all of those things happen. In that sense, employees are the most important component in the quest to improve business results. It makes sense to treat employee-related expenses as an investment in the workforce. Like any other investment, this critical company investment must yield a healthy return. At Sage, we call that the Return On Employee Investment or ROEI.
These are not easy times for HR managers. Like other executives, they must do more with less. A viable approach to the consequences of an economic downturn is tighter “strategic alignment” of HR processes to the company’s overall competitive strategy. One way that HR managers might adapt to doing more with less is to develop initiatives that designate HR as a strategic partner to revenue-generating business units and to the executive team.
HR Metrics
HR Metrics Consulting provides non-traditional HR solutions to optimize employees as well as organizational performance. It is pioneer in introducing evidence based management frameworks for workforce management in Pakistan and its indigenously developed programs have been approved by Human Resource Certification Institute USA www.hrci.org for continuous professional development and recertification of HR professionals worldwide. This is an unprecedented honor for an HR consulting firm in the history of Pakistan.
Human resources scorecard
The document summarizes the HR scorecard framework, which measures HR's contribution to organizational performance similar to the balanced scorecard. It describes traditional issues with viewing HR, and introduces the HR scorecard as addressing this by linking HR activities and investments to business strategy. The 7-step model and benefits of the HR scorecard are outlined, along with a case study of its implementation at Verizon.
STRATEGIC HUMAN RESOURCE MANAGEMENT NOTES
STRATEGIC HUMAN RESOURCE MANAGEMENT COMPLETE NOTES
Contents
1. INTRODUCTION TO STRATEGIC HRM
2. INVESTMENT PERSPECTIVES OF HR
3. MANAGING STRATEGIC ORGANIZATION
4. ESTABLISHING STRATEGIC PLANS
5. GLOBAL HRM
Empowering hr for business growth
The document discusses how empowering HR can enable business growth. It outlines the many roles of HR in areas like talent acquisition, policies, payroll, etc. It then discusses how HR can shape an organization through vision/mission setting, organization design, and performance management systems. Finally, it provides recommendations for empowering HR, including understanding the organizational framework, focusing on business impact, standardizing SOPs, leveraging tools/systems, and establishing a strong policy framework. The overall message is that empowering HR through strategic focus, alignment with business goals, and standard processes can help drive organizational growth.
Balanced scorecard orientation (intro public)
This in our firms' introduction to the concept of the Balanced Scorecard. We use this as part of developing the strategy monitoring and management processes our clients use to insure their strategies stay on track. While this doesn't include our content associated with actually setting up or managing the process, we hope it helps companies who are considering (or struggling with) a BSC implementation.
8 a bsc
The document discusses strategy execution and the balanced scorecard framework. It provides insights into why 70% of strategic failures are due to poor execution by leadership. The balanced scorecard is presented as a framework that can help organizations translate their strategy into clear objectives and measures across financial, customer, internal process, and learning/growth perspectives. It emphasizes that the balanced scorecard is not just a measurement system but can transform strategic planning and help align the organization to successfully execute its strategy when fully deployed.
Strategic Workforce Planning Presentation Mlc
- Strategic workforce planning is a process that ensures a business has the right people in the right jobs at the right time to meet its goals. It involves analyzing the current workforce, predicting future needs, and developing strategies to address talent gaps.
- Only 21% of companies take a strategic, long-term approach to workforce planning. The document outlines a 6-step process for effective strategic workforce planning: establishing business goals, understanding labor market trends, identifying future talent needs, assessing current talent, identifying gaps, and implementing strategies.
- The company discussed provides assessments and solutions to help organizations with strategic workforce planning, talent management, and other human resource needs. Their tools help with tasks like workforce analysis, candidate selection, employee
Developing a winning strategy for hr in 2021 final
The document discusses developing an HR strategy. It emphasizes defining organizational purpose and direction through mission and vision statements. An HR strategy should balance administrative, employee champion, and strategic partner roles. It involves analyzing the current state, desired future state, gaps, and opportunities through a SWOT analysis. The strategy should link HR initiatives to organizational objectives, structure, and culture. Success is measured by KPIs like satisfaction, engagement, costs and retention. Continuous improvement requires planning, doing, checking and acting on the strategy.
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Running head ABC INTERNATIONAL, INC.1ABC International, Inc..docx
Running head ABC INTERNATIONAL, INC.1ABC International, Inc..docx
Aligning HR Goals & Corporate Objectives for Greater ROEI
Aligning HR Goals & Corporate Objectives for Greater ROEI
Developing a winning strategy for hr in 2021 final
Developing a winning strategy for hr in 2021 final
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Case study compensation
An international agro products company hired HRhelpdesk.in to execute compensation activities for its India operations. This included conducting a salary benchmarking study across locations and industries, analyzing the company's current compensation strategy through discussions with top management, and developing and implementing a new 3-year compensation philosophy. HRhelpdesk.in gathered data, conducted market research and analysis, and worked with top management to understand expectations and develop the new strategic compensation approach.
Case study Query Desk
An international garment manufacturing company with presence in 40 countries is outsourcing some of its HR tasks in India and Asia Pacific to HRhelpdesk.in, including recruitment support, CTC reimbursement processing, engagement processes and systems, and HR analytics. HRhelpdesk.in will take over the data and coordinate existing processes with the internal HR team, and will perform tasks like recruitment coordination, resume screening, CTC bill processing, running celebration processes, and generating monthly HR reports.
Case study M&A
Company: A leading Indian company in the M&A business. Task: Create unified and internationally benchmarked HR policies and processes for 2 companies that they advised on a merger. Process: Analyzed expectations and present processes and recommended new systems. Tasks performed: Understood existing policies of both companies, developed new policies with rationale, got buy-in from top management to create a Policy Manual, and conducted job evaluations to build parity and recalibrate salaries between the two companies' employees in India.
Media coverage, nov 2012
Naukrihub.com is a job search website. It allows job seekers to search for jobs posted by employers and apply online. The site also provides career advice and resources to help users with their job search and professional development.
HR Satisfaction survey 2013
The document is an HR satisfaction survey report from 2013 that analyzes responses from over 670 companies across various industries. It finds that only a handful of sectors have successfully aligned their people practices with business objectives. Utilities, training/hiring consulting, and professional services scored highest in establishing strong HR frameworks and foundations. Many industries still need work on organizational culture and ensuring HR professionals' roles are recognized. The report provides detailed analysis on evaluation processes, work-life balance, and rankings of industries for people agenda maturity.
Hr satisfaction survey 2013 middle east region
This document appears to be an HR satisfaction survey report from 2013 focusing on the Middle East region. It includes an executive summary, respondent demographics, and evaluates satisfaction across key areas like basic HR framework/foundation, organizational culture/motivation, and alignment with business objectives. Some high-level findings include that 50% of HR professionals feel their competencies are underutilized, training environment is a demotivator for 67% of companies, and 43% feel career advancement opportunities are a demotivator. The document utilizes charts and metrics to analyze satisfaction levels and identify areas for improvement.
Latest clients October 2012
This document from HRhelpdesk.in lists various clients they have worked with and some of the HR tasks they assisted with, such as recruitment outsourcing, compensation benchmarking, HR policies and process design after an acquisition, manpower feasibility studies, wage trend forecasts, benefits benchmarking, validating HR processes and systems, developing training materials, designing employee surveys, and conducting HR due diligence. The document encourages reaching out to learn more about their clients and work.
Hr satisfaction survey 2012 free report
This document summarizes an HR satisfaction survey conducted in 2012 by HRhelpdesk.in. It surveyed over 650 companies across 73 locations globally. 509 companies qualified for the report. The survey measured respondent satisfaction across foundations of their role, team motivation factors, and alignment of HR and business goals. It found that while many HR professionals feel more motivated by enriched roles, over 60% felt their skills were underutilized. It also found a lack of clear alignment between HR and business objectives in many companies. The report provides a high-level overview of the survey and indexes satisfaction levels across different industry sectors.
Latest Clients
This document contains summaries of HR outsourcing projects completed by HRhelpdesk.in for various clients. The clients included an international garment manufacturer, agro products company, mergers and acquisitions firm, management institute, IT company, chemicals manufacturer, and products manufacturer. The tasks involved recruitment, compensation processes, policy development, research support, and salary benchmarking activities tailored for each client across their India and Asia Pacific operations.
Annual hr salary survey 2011 report
The document provides an annual salary survey of HR professionals in India conducted by HRhelpdesk.in. It includes benchmarks for average salary increases, attrition rates, HR to employee leverage ratios across different industries and experience levels. Percentile positioning of salaries is provided for various HR designations along with the highest and lowest paying industries. The survey analyzed data from over 200 companies across industries.
Products
HRhelpdesk.in is an HR outsourcing and consulting company that offers customized HR services and products to support Indian and multinational clients in India. They provide HR outsourcing services and consulting to meet various HR needs. Their key products include HR outsourcing, payroll processing, recruitment support, and compliance management.
Product 12 (code of conduct)
The document outlines a code of conduct for employees of a company. It states that employees should conduct themselves according to high ethical, professional, and legal standards. The guidelines are intended to cover common situations employees may encounter. A breach of the rules could result in disciplinary action, including potential dismissal. The purpose of the policy is to foster public trust and confidence in the integrity and professionalism of employees by ensuring they maintain appropriate standards of conduct, develop necessary skills, and the company conducts business according to ethical, professional, and legal standards.
Product 10 (interview assessment tips)
The document outlines a 4 step interview assessment guide: 1) create a relaxed atmosphere and avoid discussing the job upfront, 2) ask about education, interests, and leadership experience, 3) inquire about previous work history including responsibilities, projects, management style, compensation, and career changes, 4) discuss strengths, development needs, and finally ask about short and long term career goals. The overall goal is to learn about the candidate's qualifications, work history, and future ambitions.
Product 9 (business dressing ver 1)
The document discusses business dressing and proper attire in a professional setting. It provides guidance on different types of business attire, such as business/formal wear, semi-formal/business casual, and casual/informal. It explains that physical appearance makes an impression and can influence how one is perceived in terms of professional ability, position, success, intelligence, and dependability. The document provides rules for proper business dressing, including being well-groomed and dressed appropriately for the occasion, season, time of day, and client. Attention is given to proper fitting of shirts, colors, patterns, collar styles, and sleeve lengths.
Product 8 (dining etiquette ver 1)
This document provides etiquette guidelines for dining. It discusses proper napkin placement and use, cutlery arrangement, maintaining a clean setting, reading place settings to understand what will be served, using utensils like spoons, knives and forks correctly, etiquette for eating foods like bread, soup and self-serving, and maintaining proper manners throughout the meal. The document emphasizes cleanliness, order and grace when dining to follow etiquette standards.
Product 7 (business etiquette ver 1)
The document discusses business etiquette and provides guidance on greetings, handshakes, business cards, office etiquette, emails, and thanking others. It emphasizes the importance of business etiquette in today's corporate culture and advises practicing introductions for different situations. Specific tips are given for greetings, including introductions of two or three people, and handshakes, such as having a firm yet assuring handshake.
Teaser 1 (hiring)
Human resources play a vital role in any organization. By providing training, benefits, and a positive work environment, HR helps employees feel valued and perform at their best. When employees are happy, productive, and supported, the whole company benefits.
Product 6 (sexual harassment policy ver 1)
1) The document outlines a sexual harassment policy aimed at providing a safe and fair work environment free from discrimination and harassment.
2) Sexual harassment is strictly prohibited and punishable by disciplinary action up to and including termination.
3) Sexual harassment is defined as any unwelcome verbal, physical, or other conduct of a sexual nature, including jokes, remarks, behavior, communication and physical contact that makes employees uncomfortable.
Product 5 (offer letter ver 1)
The document is an offer letter from an organization offering an applicant a position as a designation at a location. The applicant is offered an annual salary of a certain amount inclusive of perks and benefits. The applicant will be entitled to incentives and bonuses as per the organization's plan. The applicant is asked to sign and return the offer letter within seven business days to accept the terms and conditions.
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Balanced scorecard
- 1. HRhelpdesk.in Welcome to HRhelpdesk.in Supporting human resources © HRhelpdesk.in Balanced Scorecard
- 2. HRhelpdesk.in About BSC “The idea of the scorecard is to describe the essential ingredients of business success” “Balanced Scorecard is one of the 15 most important management concepts ever introduced in Harvard business Review” HBR, 75th anniversary issue 50% of North American companies claim to be using Balanced Scorecard, only 10% to 15% in India do so © HRhelpdesk.in Balanced Scorecard
- 3. HRhelpdesk.in About BSC What is it? Strategic communication and performance measurement tool Origins Developed from a tool in 1980’s, but some similarities with other pre-existing tools Introduced to wider audience in early 1990s by R. Kaplan & D Norton in series of articles in HBR Underlying philosophy Clear communication of goals and priorities Learning & team working © HRhelpdesk.in Balanced Scorecard
- 4. HRhelpdesk.in About BSC A set of performance measures that is linked to the organizations strategic objectives and gives management a comprehensive view of the business The balanced scorecard includes traditional financial measures that track financial results of past actions Non-financial or operational measures on customer satisfaction, internal processes, innovation and learning processes balance the financial measures and drive future performance The scorecard directs the organizations future efforts and helps set up critical priorities for management © HRhelpdesk.in Balanced Scorecard
- 5. HRhelpdesk.in Strategic Advantages Keeps management focused on critical measures across entire business processes Helps align objectives to ensure that every person and unit is working in the same direction Motivates employees, improves reward system, improves employee satisfaction and enhances corporate culture Helps Senior Management communicate their vision Helps improve organizations productivity and enhances success measures © HRhelpdesk.in Balanced Scorecard