MU0004 � Human Resource Audit

MU0004 � Human Resource Audit - Master of Business...

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Master of Business Administration-MBA Semester 3 MU0004 – Human Resource Audit - 2 Credits Assignment Set- 2 Q.1 What is the roadmap for Balanced Scorecard The HR Scorecard  argues that HR measurement systems must be based on a  clear understanding of organizational strategy and the capabilities and behaviors  of the workforce required to implement that strategy. Thus, an HR Scorecard is a  mechanism for describing and measuring how people and people management  systems create value in organizations, as well as communicating key  organizational objectives to the workforce. It is based on a strategy map – which is a visual depiction of “what causes what”  in an organization, beginning with people and ending with shareholder or other  stakeholder outcomes.  The HR Scorecard  is built around a series of examples  and a process that helps managers to do this work in their own firms – designing  an   HR   architecture   that   relentlessly   emphasizes   and   reinforces   the  implementation of the firm’s strategy. The HR Scorecard  has five key elements: The first element is what we called Workforce Success. It asks: Has the  workforce accomplished the key strategic objectives for the business? The second element is called Right HR Costs. It asks: Is our total  investment in the workforce (not just the HR function) appropriate (not just  minimized)? The third element we describe as Right Types of HR Alignment. It asks:  Are our HR practices aligned with the business strategy and differentiated  across positions, where appropriate? The fourth element is Right HR Practices. It asks: Have we designed and  implemented world class HR management policies and practices throughout  the business?
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The fifth element is Right HR Professionals. It asks: Do our HR  professionals have the skills they need to design and implement a world-class  HR management system? There is increasing interest in measuring HR and initial efforts have made use of  a HR scorecard to provide a framework within which to measure. However,  experience of HR scorecard implementation has been mixed. In this article we  provide insights into the reasons why, and outline several key steps that must be  undertaken for HR measurement to be effective. Traditionally,   HR   functions   have   struggled   with   appropriate   and   meaningful  measures   to  quantify   their   value,   or  that   of  the  people  engaged   within   the  business. The emergence of the HR scorecard concept has tried to address this  point,   taking   its   core   design   from   the   established   balanced   scorecard  measurement framework applied in businesses. In short, the balanced scorecard 
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This note was uploaded on 12/14/2010 for the course MBA 764 taught by Professor Abc during the Spring '10 term at Manipal University.

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MU0004 � Human Resource Audit - Master of Business...

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