This Episode: How to build an HR balanced scorecard
This week Lucinda shows you how to build an HR Balanced Scorecard and align it with your HR or L&D Strategy. Watch the introduction to the podcast here or listen to the full podcast above.
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.
- 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:
- Learning and Growth (People)
- An HR Balanced Scorecard allows you to align HR Metrics with business strategy and demonstrate value
- 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?
- ‘All too often businesses are driven by the balance sheet which is a lagging indicator’
- ‘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 to be met’
- Join the HR Uprising Linked In Group here: https://www.linkedin.com/groups/13714397/
- You can access additional free HR Resources via the Actus Software website link below. Lucinda Carney is the founder and CEO of Actus Software: https://actus.co.uk/free-performance-management-resources/
- Download our slide set on demonstrating the strategic value of HR by building an HR Balanced Scorecard: https://actus.co.uk/free-performance-management-resources/infographics-templates/building-an-hr-balanced-scorecard
- Download our 5 steps to building an HR/L&D Strategy infographic here: https://actus.co.uk/free-performance-management-resources/infographics-templates/building-an-hr-ld-strategy/
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.
“When we look up we rise up”
- Join the HR Uprising LinkedIn community – https://www.linkedin.com/groups/13714397/
- Email: Lucinda@advancechange.co.uk
- LinkedIn: https://www.linkedin.com/in/lucindacarney/
- Twitter: @lucindacarney
- Instagram: @hruprising
- Facebook: @hruprising