Mhrm6900 Human Resource | Assignment Assessment Answers
Complete this Assignment on the Cleveland Clinic, Compile monitoring and metric information including the following::
- Introduce the concept of the Balanced Scorecard and briefly discuss how it is used in organizations and in HR.
- Create section headings for the key HR metrics for each of the 3 categories identified in the attached Matrix and discuss(table): Routine HR Metrics, HR Strategy Metrics, and HR Organizational Oversight Metrics.
- Explain your rational for including those metrics on your Balanced Scorecard
Create an HR Balanced Scorecard, as a Table using the attached Matrix, tailoring it to the organization you have chosen for your Annual Human Resources Operating Plan. Department/Division.(Scorecard template needs to be placed in paper ) There is NO OTHER WAY to create a metric (metric = measurement) than to create a formula to calculate it. In the AHROP, you are writing a plan that many people will follow. So, in the BSC that you are creating, you are deciding which metrics are needed for tracking work of your corporate HR work system-wide (See the examples of routine/operating metrics posted and review the other two categories of metrics this plan needs for your HR). In your Corporate HR BSC, you (1) list those 3 categories in one column, (2) show the formula in the middle column, and (3) leave the third column blank, because this is the plan for employees to follow -- i.e., there are designated staff who collect this data in HR, then plug in the data elements into the formula, and calculate the metric that then gets reported
Answer:
The balanced HR scorecard is a measurement tool for the management of any organization which provides the organization with the required space to clarify their strategy and vision for the business and convert them into the desired action to produce organizational performances (Nzuve & Nyaega, 2013). The main objective of the balanced HR scorecard is to collaborate the organizational performances to the strategies of it with precise focus in four major topics which are learning and growth, financial perspectives, the understanding of the internal business process, organizational capacity (Abdullah et al., 2013).
Financial perspectives:
The organization will generally look to reduce the costs of it as much as possible so that it gains a breathing space in the difficult modern market. In this case the organization will largely depend on the scorecard to get the desired picture of the ROI and then according to that it will be able to cut down its operating costs and that will be an added advantage for the organization in funding on employee vacancy and the training programs.
Internal Business Process:
HR balanced scorecard plays a key role in acknowledging the internal business process of any organization as it relates to the hiring of employees, proper training and management of that particular organization (Lin et al., 2013). The appropriate assessment of the employees regarding the business process of the organization on the precise input of HR is significantly valuable for better performances.
Organizational Capacity:
The skills and experience plays an important role in the increment of the quality of the work and the scorecard is incredibly essential to know the facts and figures of the excellence of the organization's workforce so that the organization be able to gather the knowledge about its capacity (Person, 2013).
Learning and Growth:
The information regarding the training and development in the scorecard enables the management to properly understand the issues of the employees that needs to be taken care of so that they can perform with higher degree of perfection.
HR metrics:
Routine HR metrics:
This section of HR scoreboard focuses on the general concept relating to the organization's critical and largely financial issues like ROI and the usual costs relating to the hiring process. The survival and the development of any organization largely depends on the revenue that it generates over the business. The expansion of the organization in order to increase the business is highly desirable and in that case a precise monitoring on the costs related to the hiring process is possible with the HR scorecard (Ulrich & Dulebohn, 2015).
HR strategy metrics:
The expansion of the organizational workforce relates to another issue which is the absence of proper training and skill development for the employees. The HR strategy metrics largely depends on building the strategy from the organization's part to improve the performance of the workforce by means of various training and development programs.
HR organizational oversight metrics:
This section largely depends on the development of the workforce with prime focus on the parts of employee satisfaction, skills and experience of the workforce. The impact of the work pressure on the workforce is immense as the healthcare industry offers an emergency service and that will generate significant amount of dissatisfaction on the employee which the management needs to nullify with their strategy so that the workforce be able to provide quality work.
The HR scorecard for the Cleveland Clinic in its first part focuses on the HR routine metrics covering the important issues like Return on Investment, Hiring expenditure and the turnover rate. It is significantly essential for the management to keep track of the revenue sources and the figures of the gain of that organization and with proper formula of ROI, the scorecard contains details of the financial status of the organization (Chhinzer & Ghatehorde, 2018). The turnover rate is a major concern for the management as the separation of the efficient employees with the organization will generally decrease the effectiveness and quality of the organization. With the adverse effect of turnover, the recruitment of new employees will have a serious impact on the organization in the form of recruitment cost and that is why the scorecard composed for Cleveland clinic also acknowledges the issue.
The management needs to form strategies regarding the acknowledgement of the good work in the form of reward policy so that the workforce be motivated to perform better. With the concept of quality work, the workforce will be subjected to lapses in quality as well and in that case the management needs to strategize training and development programs to make sure that the incapability of the employees gets nullified (Nagendra & Deshpande, 2014).
It is significantly essential to calculate the efficiency of any organization as it plays a pivotal role in calculation for the future expansion (Rasmussen & Ulrich, 2015). The organization needs to get an idea of the effectiveness of their employees and the possible sources of break down for them so that it can form the strategy in a manner which will eradicate these issues. With these sort of factors along with the proper need of motivation for the employees, the scorecard is significantly essential.
References:
Abdullah, I., Umair, T., Rashid, Y., & Naeem, B. (2013). Developments on balanced scorecard: a historical review. World Applied Sciences Journal, 21(1), 134-141.
Chhinzer, N., & Ghatehorde, G. (2018). Challenging relationships: HR metrics and organizational financial performance. The Journal of Business Inquiry, 8(1), 37-48.
Lin, Q. L., Liu, L., Liu, H. C., & Wang, D. J. (2013). Integrating hierarchical balanced scorecard with fuzzy linguistic for evaluating operating room performance in hospitals. Expert Systems with Applications, 40(6), 1917-1924.
Nagendra, A., & Deshpande, M. (2014). Human Resource Information Systems (HRIS) in HR planning and development in mid to large sized organizations. Procedia-Social and Behavioral Sciences, 133, 61-67.
Nzuve, S., & Nyaega, G. (2013). Application of balanced scorecard in performance measurement at Essar Telecom Kenya limited.
Person, R. (2013). Balanced scorecards and operational dashboards with Microsoft Excel. John Wiley & Sons.
Rasmussen, T., & Ulrich, D. (2015). Learning from practice: how HR analytics avoids being a management fad. Organizational Dynamics, 44(3), 236-242.
Ulrich, D., & Dulebohn, J. H. (2015). Are we there yet? What's next for HR?. Human Resource Management Review, 25(2), 188-204.
