Building an HR Balanced Scorecard

This week Lucinda is delving into how to build an HR strategy that’s aligned to your company’s strategy based on the Kaplan and Norton ‘Balanced Scorecard’ system. Understanding the best way of recognising your strategy is sometimes difficult, but with Lucinda’s practical advice, you’ll not only be able to achieve it but inspire your organisation to follow you there. KEY TAKEAWAYS The Balanced Scorecard is a system devised by Kaplan and Norton in the 1990’s, and provides a relevant range of financial and non-financial information that supports effective business management: Financial  Process Customer Organisation Learning and Growth   We need to make sure that a) there is a strategy, b) we understand it, and c) that it’s understood throughout the organisation.   A useful tool in determining your company strategy is to create a strategy map, where you state your chosen strategy, pool all of your resources together and visually mark lines that show which factor is driving what.   Make sure the data you’re capturing is helpful and purposeful. Are the metrics you’re examining going to help you develop in the long run? BEST MOMENTS ‘All too often businesses are driven by the balance sheet’ ‘People need to understand how their role contributes toward the strategy’ ‘It’s about making sure you’re training people up, and encouraging career aspirations’ ’The key is, those are examples of metrics you can use'    VALUABLE RESOURCES Join the HR Uprising Linked In Group here:https://www.linkedin.com/groups/13714397/You can access additional free HR Resources via the Actus Softwarewebsite link below. Lucinda Carney is the founder and CEO of ActusSoftware:  https://actus.co.uk/free-performance-management-resources/ HR Uprising ABOUT THE HOST Lucinda Carney is a Business Psychologist with 15 years in Senior Corporate L&D roles and a further 10 as CEO of Actus Software where she worked closely with HR colleagues helping them to solve the same challenges across a huge range of industries. It was this breadth of experience that inspired Lucinda to set up the HR Uprising community to facilitate greater collaboration across HR professionals in different sectors, helping them to ‘rise up’ together. “If you look up, you rise up” CONTACT METHOD Join the LinkedIn community - https://www.linkedin.com/groups/13714397/ Email: [email protected] Linked In: https://www.linkedin.com/in/lucindacarney/ Twitter: @lucindacarney Instagram: @hruprising Facebook: @hruprising HR podcast, The HR Uprising, Diversity, Equality & Inclusion, Learning and Development, Culture & Change: https://hruprising.com/hr-podcasts/