Data-driven HR Using The Balanced Scorecard
In this second part of High Performance HR, Lucinda talks about how to target and measure success within HR functions. She discusses the importance of utilising data to demonstrate HR's impact on business value, emphasising the balanced scorecard framework as a strategic tool for aligning HR activities with organisational goals. Lucinda also talks about various metrics, including engagement surveys, employee net promoter scores, and foundational HR metrics, while also highlighting the role of AI in enhancing recruitment and operational efficiency KEY TAKEAWAYS The balanced scorecard is a strategic performance management tool that aligns business activities with strategic objectives, moving beyond traditional financial metrics to include customer satisfaction, internal processes, and organizational capacity. HR professionals should focus on identifying and measuring key metrics that demonstrate the value of HR initiatives, helping to establish credibility and align HR strategies with overall business goals. Employee engagement surveys, pulse surveys, and employee net promoter scores (eNPS) are essential tools for gathering data on employee satisfaction and engagement, which can inform HR strategies and initiatives. When developing a balanced scorecard, it is crucial to select a few relevant metrics from each quadrant that align with the organisation's goals, rather than attempting to measure everything, which can dilute focus and impact. BEST MOMENTS "It's about looking at how we can discard the soft and fluffy suggestion... and we can choose the right data, methods of gathering data and metrics that will help demonstrate business value." "The balanced scorecard is more of a holistic approach of strategic execution, helping you to do things more broadly, and it's going to lead to more sustainable success." "If you want to ultimately impact financial performance, you need to start with learning capacity." "What gets measured is seen as what matters." VALUABLE RESOURCES The HR Uprising Podcast | Apple | Spotify | Stitcher The HR Uprising LinkedIn Group How to Prioritise Self-Care (The HR Uprising) How To Be A Change Superhero - by Lucinda Carney HR Uprising Mastermind - https://hruprising.com/mastermind/ www.changesuperhero.com www.hruprising.com Get your copy of How To Be A Change Superhero by emailing at info@actus.co.uk 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. “If you look up, you rise up” CONTACT METHOD Join the LinkedIn community - https://www.linkedin.com/groups/13714397/ Email: Lucinda@advancechange.co.uk Linked In: https://www.linkedin.com/in/lucindacarney/ Twitter: @lucindacarney Instagram: @hruprising Facebook: @hruprising HR podcast, The HR Uprising, Diversity, Equality & Inclusion, Learning and Development, Culture & Change: https://hruprising.com/hr-podcasts/