The Workforce Scorecard: Managing Human Capital To Execute Strategy
In a marketplace fueled by intangible assets, anything less than optimal workforce success can threaten a firm's survival. Yet in most organizations, employee performance is both poorly managed and underutilized. The "Workforce Scorecard" argues that current management and human resource practices hinder employees' ability to contribute to strategic goals. To maximize the power of their workforce, organizations must meet three challenges: view their workforce in terms of contribution rather than cost; replace benchmarking metrics with measures that differentiate levels of strategic impact; and make line managers and HR professionals jointly responsible for executing workforce initiatives.Building on the proven model outlined in their bestselling book "The HR Scorecard", Mark Huselid, Brian Becker, and coauthor Richard Beatty show how to create a "Workforce Scorecard" that identifies and measures the behaviors, competencies, mind-set, and culture required for workforce success and reveals how each dimension impacts the bottom line. Practical and timely, "The Workforce Scorecard" offers crucial lessons for leveraging human capital to achieve strategic success.
CUTTING EDGE HUMAN CAPITAL STRATEGY
By Max More "Max More" - May 4, 2005
You realize the importance of human capital in an economy based principally on intangible assets. You know you need your workforce to perform at its best. Yet you suspect that you could be managing employees more effectively and drawing more out of them. The difficulty lies in effectively and precisely aligning employee activity with strategic goals. This is where Huselid, Becker, and Beatty come to the rescue in this follow-up to their previous book, The HR Scorecard: Linking People, Strategy, and Performance. The Workforce Scorecard argues that to make the most of strategy execution, companies must meet three challenges: the perspective challenge, the metrics challenge, and the execution challenge. They can do this by adopting a workforce scorecard consisting of four elements.
The authors present three central points of their approach as challenges because these requirements for workforce management and measurement will go counter to the existing order in many... read more
How to increase the ROI of human "capital"
By Robert Morris - February 25, 2006
It is more important now than ever before to measure human performance accurately and consistently, especially given the rapidly increasing use of outsourcing which requires effective supervision of those to whom important tasks are entrusted. Although this book was written primarily for HR executives, I think it can also be of substantial interest and value to other senior-level executives as they are challenged to determine organizational priorities and then to formulate strategies by which to achieve specific objectives. I agree with countless others that is it difficult (if not impossible) to manage what cannot be measured. I am also convinced that appropriate metrics must be selected, and, that primary importance must be placed on measurement of those initiatives on which success (however defined) depends. The authors of this book provide a cohesive, comprehensive, and cost-effective program by which workforce success can be monitored and measured.
MEASURE WHAT REALLY COUNTS-PEOPLE MAKE STRATEGY A REALITY!
By Gerry Stern "Stern's Management Review Online" - March 8, 2005
This book puts a bright light on how and why an effective workforce strategy is crucial for the execution of business strategy. This vital link is explored in depth. The authors show how building on the HR function links to building the effective workforce which drives business success. The four elements of the scorecard form a series of building blocks culminating in strategy execution: 1) workforce mind-set and culture, 2) workforce competencies; 3) leadership and workforce behavior; and 4) workforce success. Ideally, workforce success is measured by its impact on business success (carrying out strategy). An extensive list of metrics is provided for these four elements. The authors bring together the HR scorecard, the workforce scorecard, and the balanced scorecard. There is an extensive discussion of strategy execution and also of the role of communication and learning programs. A final chapter provides a diagnostic tool for assessing the big picture-the capability to manage and... read more
In his landmark book, "The ROI of Human Capital", Jac Fitz-enz presented a system of powerful metrics for quantifying the contributions of individual employees to a company's bottom line. "The New HR ...