The History of A Strategy Map Balanced Scorecard

A lot of people are intrigued to know what a strategy map balanced scorecard is. But most of them do not even know what it is for. They are only getting attracted to it since it has become a trend where business owners are encouraged to get. For this reason, a number of strategy maps are not working out. If you are a business owner, it is a good to know what this map is before getting one. A short history of the strategy map balanced scorecard can be dated back to 1987, when it was first introduced. In a way, this is a concept wherein the goals of a business are being enlisted with a visual representation. They are no longer limited to the imagination of the business owner as these maps are readily available to all the employees of the company.

Ever since its introduction, the strategy map balanced scorecard has been able to gain much popularity and is currently being used by almost all industries. But the real aim of this concept was due to the needs of its developers, Analog Devices, to determine if their business' goals are being met. Once the company was able to depict their business goals, they were able to determine the factors that were causing delay to achieving them. At the same time, they were able to come up with possible cause and effect methods in order to make sure their goals could be achieved. And this led onto the popularity of the concept.

Sadly though, a lot of companies focus too much on their financial issues instead of looking at the whole issue. They tend to forget that there are other factors that can help affect their business. Among these factors include their human capital, management, resources, and a lot of other things to consider. But thanks to the strategy map balanced scorecard, business owners are able to tackle each of these factors individually. As such, they are able to create plans of action on how these issues can be improved.

Since then, the popularity of the strategy map balanced scorecard has rapidly evolved. Today, it has even come to a point where there are so many different software programs that business owners can use. In addition, these software programs have been improved and made more effective in terms of measuring the business' performance.

Surely, the strategy map balanced scorecard has come a long way since it was first developed in the early 1990s. To what started as a concept, has largely evolved into an actual diagram. But before software programs were introduced, the balanced scorecard was done using various programs such as Word, Excel, and PowerPoint. Even though these programs were already effective, other people still wondered how they could disperse their data quickly and securely. Aside from that, business owners were also thinking of ways they could communicate and connect the strategy map with their employees in a timely manner. Thus, the software program for balanced scorecard was born.

To this day, hundreds and even thousands of companies are using these software programs. For this, they have been able to achieve their business goals that they initially thought was almost impossible to do.

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How to Design an Effective Performance Management System

How many times have you heard a manager or business owner say, "Our people are our greatest asset?" In many organizations, the employees are treated this way. For every company that walks the walk, there is a company that only talks the talk. In these companies, what the manager should really say is, "I am the most important person in this company and my people know that I think so."

The employer/employee relationship takes on many forms. We interact daily in the workplace and often in social settings outside of the office. Through the frequency of our interaction we come to feel that we know our employees and that they know us as well.

Consider how much time you spend with your direct reports in open communication regarding their work life in a setting where they have my uninterrupted time. My guess is that most managers spend little time providing for such time with their employees and overestimate the quality time that they spend with their direct reports. We are going to examine the importance of creating time for open communication in today's business climate and how it can be used to change or further a company culture based upon results.

Structure, communication and accountability are vital to the success of any organization. Structure provides your staff with a basic understanding of what to do and how to do it in an organized fashion. Accountability ensures that responsibilities are met on time with quality results. Communication allows for the various parts of your company to work together seamlessly to meet your customer or client needs.

An effective performance management system will employ a simple structure that both the manager and direct reports honor as a commitment to be kept and meetings should be missed only in extreme situations. Most performance management practices center around a year-end review that affects prior bonus and future pay. The employee often feels like they are judged solely on the last 90 days of their performance. The manager struggles to provide an objective assessment as he or she finds it very difficult to look at the entire year objectively as the recent past is front and center.

Let's start by rethinking the whole process. We want to focus less on having a cursory meeting where we cram an entire year of an employees' work into a one-hour meeting. We want to focus more on establishing an effective mentoring process where open and honest feedback flows between both the manager and employee on a regular basis. Individual monthly meetings with each direct report should be the corner stone of this process. Employees should prepare for the meeting by providing a description of their last 30 days. This document should be provided in advance of the meeting and include their failures, successes, and plans for the next 30 days. The manager should be prepared to review the document, be mentally present in the meeting, accept no phone calls or interruptions, and be prepared to help with their failures, coach through their plans and celebrate their successes. If you notice a problem, discuss it. Don't leave anything unturned.

The next step in the process is a quarterly meeting. This meeting is best conducted over a couple of sessions and is a part of a formal review process. Your direct report should prepare for this meeting by answering a few questions in writing. You want to find out what the person feels he or she did well over the last 90 days and where improvement could occur. You want to find out what the person is particularly proud of with regard to his or her performance. In addition, you want to know if and how the employee is struggling. You should have the employee submit this prior to the meeting so that you can review and thoughtfully prepare your responses.

The second step of this quarterly meeting occurs as you tell the employee, verbally and in writing, what you have found to be the positive and negative points of their performance. Provide specific treatment to what improvements you would like to see in the negative performance and let the person know how serious the situation is as it relates to their job security. The goal here is open communication of your expectations with no surprises. The employee should respond to your assessment in writing with a short but simple improvement plan.

We work closely with our clients to help them improve their performance management processes. As with most business processes, follow through is critical. Do not adjourn any monthly meeting or quarterly review without scheduling the next one. Our clients derive value from this process through their commitment to their employees and cancel meetings only in the event of a critical conflicting appointment.

Phil Herron is the President and Director of Risk Management at Four Point HR, a Professional Employer Organization (PEO) based in Atlanta, GA. As a PEO, the company enables small businesses to cost-effectively outsource the management of employee benefits as well as human resources, payroll and workers' compensation. Learn more about these four points of service at http://www.fourpointhr.com/. Article Source

A Guide to Performance Management

Improve your performance management system and you'll soon see an increase in productivity, streamlined procedures, increased accountability and more commitment from your employees.

One of the most important aspects of great management is to build a good relationship with your employees, be as honest as you can with your staff, if they feel they can talk to you openly and trust you then it's more likely you'll be told about any issues or problems in plenty of time to do something about it. Staff will feel comfortable about providing information and respect your decisions.

Staff morale and motivation is paramount, if you see someone working extra hard or achieving consistently good results then let them know you have noticed and congratulate them on their success. A pat on the back can work wonders to employees' sense of worth and motivation.

You need to have an effective performance management system in place to really make it successful. It doesn't have to be anything too complicated but it is a process that will only work if it is organized and regularly carried out. Keep it nice and simple and your staff will appreciate the chance to be honest about the way they feel at work, and take any changes or moves much more readily. Overload them with complicated forms and multiple paperwork and you will only get grumbles. It can be effective whist still being friendly and informal.

Performance management is all about building up trusting relationships and motivating your staff. Focus on their strengths and positive aspects and don't spend too much time pointing out weaker issues, this will only lead to employees resenting or dreading these discussions and becoming disheartened and demotivated. Also try and keep any disciplinary issues separate.

Remember that this isn't only about what employees can give you, you also have to ensure they are happy in their current role, identify any issues that may be troubling them and consider any further training or qualifications that will benefit and raise their self esteem. This will strengthen the working relationship and ensure your staff feel loyal to the company.

Performance management reviews help employees have a better understanding of what is expected from them in terms of work load and performance. There are a lot of issues at work that are caused by misunderstanding or lack of communication, an effective performance management program can minimize these misunderstandings and enable things to run more smoothly.

They provide the perfect opportunity for your employees to bring up any problems or questions they have and haven't had the confidence to raise earlier. It can also be a time when employees ask about further training or qualifications they might be interested in, or other aspects they may feel could improve their performance.

Once the review is complete then do an evaluation of the review itself. Every company is different in the way it operates so structure your review to suit your company culture and style. Could the review have gone more smoothly? Can you identify anything that could have been done differently? There is always room for improvement and a positive performance will benefit both you and your employees.

A performance review is not only about the past year, it should also plan for the next and an effective review will make it clear to your employee how they fit into the team and contribute to the company. Recognizing achievements and giving them a pat on the back when it's due will encourage a good working relationship and ensure your staff are motivated and happy.

Generally there is no standard package with an RPO service due to every company having different needs and requirements. Find out as much as you can about recruitment services online where there's lots of information and tips on how to find one to suit you. Every solution is modified to the individual situation, aims and needs of the clients. If you are looking for effective methods to make your organization run more smoothly than ever then find out more about how recruitment services operate and how they can help you.

Andrea Watkins writes articles for Kenexa, a leading provider of effective performance management solutions that helps businesses and organizations worldwide enhance employee engagement. Their suite of compensation management tools help managers aligns compensation directly to performance, allowing budgets allocation and utilizations. Make use of their succession planning tools to identify and develop existing and future talent within your organization.

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HR Scorecard : Key Performance Indicator (KPI) for HR.

Whether in a small or large company, managing employees is a no ordinary job. The human resources department is one of the many sections that a business organization should come up. It is the focal point for establishing duties and responsibilities necessary for evaluating work performance. HR personnel handle transactions on a daily basis. And as the company grows, the company will need a more robust system to better improve its measuring activities. This includes the use of human resource scorecard.

HR Scorecard

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An HR scorecard is the same scorecard system that accounting, inventory, and logistics departments use. Only this time, it is centered more on measuring the activities of the HR department. The application of an HR scorecard means that there is an optimum method for evaluating and defining the value and efforts. With the aid of this scorecard system, the management is also able to organize objectives effectively and clearly, which is necessary in maintaining an active and stable company. In short, the HR-specific scorecard system cuts the hassles in quantifying the worth of the company and its workforce.

Setting up the scorecard system, however, takes time and many considerations. It actually starts in the identification of potential yardsticks or metrics. Going through a series of checkups and reviews is necessary as well to come up with effective metrics. It will help if the HR department understands the real purpose of installing an HR scorecard system. HR managers should carefully research on the status of the workforce. They should see if the current volume of employees is sufficient to stabilize the growth of the organization. Whether the results are positive or negative, it is only then that the HR department can figure out a clear objective in setting the scorecard. A very good example of a scorecard objective is to increase productivity through trainings.

After coming up with a clear, measurable, intelligent, practical, and time-conscious objective, the HR team is now ready to gather the important details necessary for fueling the scorecard system. The fuel refers to the patterns: the productivity of the workers, the skill growth of the workers, the health status of the workers, as well the compensation attractiveness of the workers. The patterns are the actual activities that employees face everyday inside the company. Briefly, scorecard patterns should be pertaining to contributions, functions, and value points of each employee.

The next crucial step is to integrate all the patterns into meaningful data, kind of like coming up with a broader picture out of assembling jigsaw puzzles. Technically, this process of integrating the values or data and objectives is what experts call relationship building. Unless there are other ways to know whether ten computer programmers are enough in the IT department, HR managers should identify the relevance of each employee.

As the scorecard evaluates patterns and creates relationship, it also puts the metrics to the test. Along the way, the HR may find a certain metric irrelevant, but most of the time, patterns like cost per hire, turnover cost, turnover rate, and time to fill provide useful values. Remember that the real advantage of the human resource scorecard only comes when there is a clear objective, well-defined patterns, and relevance.

If you are interested in human resource scorecard, check this web-site to learn more about human resource metric.

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Balanced Scorecards & KPI for HR

The Balanced Scorecards (BSC) is a conceptual model for managing organization’s performance. In early development, BSC aimed to solve organization’s measurement problems, which is put heavy priority on tangible aspects rather than intangible aspects. This model then complements financial measures of past performance with measures of drivers of future performance.

Balanced Scorecard incorporates valuation of organizations’ intangible and intellectual assets since intangible assets recently increase its portion of organization’s source of competitive advantages. To design BSC system, first we choice relevant KPI to HR function as both traditional personnel management to business partner level.

To implement BSC framework for HR function, first we should define goals statement that describe organization strategic objectives. Objectives then translated into specific measurement reflects by key performance indicator (KPI) which is followed by challenging but achievable quantitative target. List of initiatives are generated to support objectives achievement.

Typical objectives and KPI for HR function are presented below.