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Most Recent Articles
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- Hr Kpi - The Use Of Balanced Scorecard Metrics In Managing Human Resources
HR is a crucial supporting function whether you have a team of 2 or 2,000 and business managers need to get the very best out of their people if they are to get the very best business performance. KPI's typically lend themselves to monetary or physical metrics such as dollar value of sales or number of widgets produced by a team or region. KPI's or balanced scorecard metrics (the two are essentially one and the same) provide management and decision makers with an overview of business performance and software based solutions give a dashboard type presentation that allows users to "drill down" to view performance at the micro level.
Applying KPI's to non-monetary functions such as HR, that do not produce a tangible dollar benefit or a physical item in production still lend themselves to KPI analysis. We just have to look at what these business units (taking the HR department as the example) are actually producing in terms of training days delivered, staff turnover ratios, sick days taken. If you view the HR function as producing an indirect benefit to the business operation (which you will do if you are allocating the cost of the HR Department out to operating divisions) then it will follow that simply looking at training days delivered is not a useful measure of contribution to business performance. Combining training days delivered to the sales force coupled with increases in sales revenue would be a better metric that seeks to represent the correlation between training and improved revenue. - Measure Training Performance. Tips And Tricks.
Training is an area where performance metrics has been missing the point during the past years. This brings about a situation where either the wrong measurements are being selected to determine whether the training program is effective or training may be ignored in any real sense when planning for company over all business performance.
Businesses can not control what they can't measure, so it's critically important to find and use the correct performance measurements for any investment which the organization makes, including that of training, which is certainly one of the most important investments which will be made by any organization.
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