Contemporary Human Resource Management
The purpose of this post is to discuss a contemporary HRM practice and to reflect on whether the HRM practices encourages knowledge sharing, learning, and /or innovation throughout the organization and why these HRM practices should be used by other HRM practitioners and their organization. Forward thinking, critical advantage, performance management and added value are the new trending terms these days. They all sound good. What we all would like to know is what really drives business? In my opinion technology, data and sales is what drives business with talented human capital leading the way.
Understanding human-capital metrics is a multifaceted approach. The HR Sored card offers value to contemporary HRM practices which emphasizing knowledge sharing, learning and innovation throughout global organizations. The HR Scorecard is a tool used to gauge how HR aligns with the organizations strategic plan (Becker, et. al. 2001). Connecting people measures to KPI’s in a reliable way and can entail enormous amounts of data, and most efforts are technology dependent (Schneider, 2006).
Identifying key deliverables with an HR Scorecard which is an HR strategic measurement system consisting of (Becker, Huselid, & Ulrich, 2001). :
1) HR deliverables -identify who is the receiver of the deliverable
2) HR policies processes and practices –aligned with organizational mission, vision and goals
3) HR system alignment-defines HR activities that provide staffing, retention, employee initiatives
4) HR efficiency –perform a cost benefit analyses of HR activities
The HR scorecard framework is a performance management measurement tool used by human resource practitioners to position them as strategic business planning partners. In addition to a financial analysis organizational performance management also consist of talent management practices; which requires HR metrics.
The HR Scored is an HR tool that encourages communication, identifies progress and business gaps throughout the organization. In developing the measures for an HR Scorecard it is necessary to identify the exact tasks at which HR must be efficient to support the company’s strategy (Becker, et. al. 2001). I highly recommend the HR Scorecard the HR Scorecard promotes feedback about performance management, talent management and human resource development.
Becker, B., Huselid, M. A., & Ulrich, D. (2001). The HR scorecard SUMMARY. Concentrated Knowledge for the Busy Executive. http://www.summary.com Vol. 23, No. 10 (2 parts) Part 1. Order # 23-24. Retrieved from http://www.businesstraining.com.mx/egaii/docs/The%20HR%20Scorecard.pdf