What is HR BSC?

A balanced scorecard is a strategic management system that leverages strategic non-financial performance measurements alongside the traditional financial metrics. This approach provides a more “balanced” view from four organizational perspectives: financial, customers, internal business processes, and learning and growth.

Using the area of recruiting as an example, a balanced scorecard would look like this:

Objective

Reduce turnover costs.

Description: Develop effective recruiting methods and new-hire orientation methods to optimize the retention of new hires.

Actions

Identify key attributes of successful employees who stay at the company for two or more years.

Utilize technology more effectively for recruiting and screening applications.

Identify selection methods that will contribute to successful hires.

Integrate branding efforts into recruiting.

Revise the orientation program to ensure new-hire retention.

Measures

Cost-per-hire (financial).

Turnover rates and costs (financial).

Time-to-fill (business process).

Customer satisfaction with new-hire performance (customer).

New-hire satisfaction with orientation (learning and growth).

Supervisor satisfaction with orientation (learning and growth).

Objective

Develop the HR BSC for the organization that will serve the overall strategy of the organization and to have a clear measures and initiatives for each division in the HR Department.

Methodology

Through a workshop with the organization management team our consultants will develop the HR BSC and will prepare all the HR Division objectives and measures.  

Duration

10 working days

Deliverables

- HR BSC

- Workshop with the management team