Integrate The Human Resources Balanced Scorecard ✓ Solved

Integrate the Human Resources Balanced Sco

Integrate the Human Resources Balanced Sco

Create a balanced HR scorecard for two identified objectives: reducing turnover and increasing employee satisfaction. Each scorecard should include the objectives, description of activities, actions to be taken, measures to be used, accountability for actions, and follow the provided template. Turn in one scorecard for each objective.

Sample Paper For Above instruction

Introduction

In today's competitive business environment, aligning human resource activities with strategic organizational goals is essential for sustained success. The HR balanced scorecard serves as a strategic management tool that translates HR strategies into measurable objectives. This paper presents the development of two HR scorecards focused on reducing employee turnover and increasing employee satisfaction, respective to the strategic priorities of the organization.

Objectives

  • Reduce Employee Turnover
  • Increase Employee Satisfaction

Balanced HR Scorecard for Reducing Employee Turnover

Description of Activities

The primary activities involve enhancing onboarding processes, offering competitive compensation packages, developing comprehensive retention programs, and conducting exit interviews to identify turnover causes.

Actions to Be Taken

  • Implement structured onboarding programs for new hires to foster engagement from day one.
  • Review and adjust compensation to ensure competitiveness in the industry.
  • Develop employee recognition and career development initiatives.
  • Regularly analyze exit interview data to identify and address turnover patterns.

Measures

  • Monthly turnover rate comparison with industry benchmarks.
  • Employee engagement survey scores.
  • Number of retention initiatives implemented annually.

Accountability

The HR Director will oversee the implementation of retention strategies, with line managers responsible for employee engagement and feedback, and the HR analytics team monitoring turnover data.

Balanced HR Scorecard for Increasing Employee Satisfaction

Description of Activities

Activities focus on improving communication, providing opportunities for growth, recognizing employee achievements, and creating a positive work environment.

Actions to Be Taken

  • Establish regular town hall meetings and feedback channels.
  • Implement professional development programs and training sessions.
  • Develop a rewards and recognition system based on performance.
  • Conduct employee satisfaction surveys quarterly to gauge progress.

Measures

  • Results from employee satisfaction surveys.
  • Participation rates in development and training programs.
  • Frequency and quality of employee recognition events.

Accountability

The HR Manager is responsible for designing and executing initiatives, while managers are accountable for fostering a positive environment and responding to feedback. The HR team tracks satisfaction metrics periodically.

Conclusion

Implementing targeted HR scorecards aligned with strategic organizational goals enables data-driven decision-making aimed at reducing turnover and enhancing employee satisfaction. These scorecards facilitate accountability and continuous improvement, essential for maintaining competitive advantage.

References

  • Kaplan, R. S., & Norton, D. P. (1996). The Balanced Scorecard: Translating Strategy into Action. Harvard Business School Press.
  • Becker, B. E., & Gerhart, B. (1996). The Impact of Human Resource Management on Organizational Performance: Progress and Prospects. Academy of Management Journal, 39(4), 779–801.
  • Ulrich, D., Brockbank, W., Johnson, D., Sandholtz, K., & Younger, J. (2008). HR Competencies: Mastery at the Intersection of People and Business. Society for Human Resource Management.
  • Snape, E., Redman, T., & Bamber, G. J. (2017). Strategic Human Resource Management: An Introduction. Routledge.
  • Lawler, E. E., & Boudreau, J. W. (2015). Global Trends in Human Resource Management. Stanford University Press.
  • Cummings, T. G., & Worley, C. G. (2014). Organization Development and Change. Cengage Learning.
  • Huselid, M. A. (1995). The Impact of Human Resource Management Practices on Turnover, Productivity, and Corporate Financial Performance. Academy of Management Journal, 38(3), 635–672.
  • Armstrong, M. (2014). Armstrong's Handbook of Human Resource Management Practice. Kogan Page.
  • Kernaghan, K. (2014). Managing Human Resources in the Public Sector. University of Toronto Press.
  • Parry, E., & Tyson, S. (2011). Desired Goals and Desired Processes: The Role of HR Strategies in the Transition to a New Workforce Paradigm. Human Resource Management Journal, 21(1), 65–80.

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