What Exactly Is a Scorecard and How Does a Balanced Scorecard Work in HR?

Dear HR Professionals,

Kindly tell me, what is a scorecard and what is a balanced scorecard?

Hi,

A scorecard is a simple evaluation device, usually in the form of a questionnaire, that specifies the criteria that stakeholders will use to rate the organization's performance in satisfying their requirements. In 1992, Robert Kaplan and David Norton introduced the Balanced Scorecard concept as a way of motivating and measuring the performance of an organization. It is a systematic approach that assesses internal results while taking external conditions into consideration. Under the Balanced Scorecard Methodology, the processes that contribute to results are also measured along with the results. The Balanced Scorecard focuses on the following four indicators, namely:

1. Customer Perspective
2. Business Process
3. Learning and Growth
4. Financial

Regards,
BIPS

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An organization or department's scorecard is its top level Key Performance Indicators (KPIs) and measures that demonstrate how well it is achieving its goals and targets.
The Balanced Scorecard was first promoted by Kaplan and Norton and seeks to move organizations away from just having financial measures as these do not allow proper planning for and forecasting of the future health of the organization. Kaplan and Norton introduced leading measures around three other key areas:
-customer
-process
-learning
The Balanced Scorecard has measures and targets in each of these four areas.
Les Allan
Business Performance P/L - Managing for Performance
http://www.businessperform.com

Hi Friends,

I am looking for a good agency for Practical Training on Balanced Scorecard Methodology. Can anyone give some suggestions?

Regards, Megha :)