Exploring the Balanced Scorecard: Can It Be an Effective HR Summer Project?

Hi,

As an HR summer project, I need to do something on the Balanced Scorecard (BSC). So, any suggestions? Would designing a BSC be a good idea? From what I have read about BSC, it involves converting strategy into results in all business dimensions, not just HR. Can it still be considered an HR project? Is developing a BSC necessary before creating an HR scorecard? Because ultimately, I am more interested in the HR scorecard. Would an organization allow me to analyze its BSC for the purpose of developing an HR scorecard?

Thank you.

Put simply, the Balanced Scorecard methodology is an exercise in converting strategy into measurable units, turning strategy into something tangible that can be measured. While HR Scorecard ideally should be tied to a Business Scorecard, there is no reason not to develop an HR Scorecard as a standalone. As long as you have access to the business strategy, you should do fine in defining just how HR helps drive the business strategy.

Hope this was of help.

Hi,

BSC is a broader picture of how the company's strategy is defined, along with the specific four parameters of measurement. When developing a functional scorecard (including HR), we must all keep in mind that it is a subdivision of the Org Scorecard and must, under all circumstances, contribute to the overall business strategy.

If you intend to design an HR scorecard, my suggestion would be to research your company's strategy, mission, and objectives. Based on those cues, you can define an HR BSC. Always bear in mind that it must demonstrate specific areas of alignment with the company Scorecard.

Thanks,
Kavita