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Your assignment is to prepare and submit a paper on strategy people performance.
Your assignment is to prepare and submit a paper on strategy people performance. Analytics mainly focus on the trend with respect to performance, results, behavior, growth, and development, which further draws management’s attention to specific areas unlike reporting tools that only focus or gather historic data and performance. Contemporary businesses and management lay strong emphasis on the measurement of all aspects related to business and management.
Lundgaard (2009) emphasizes the significance of HR analytics in enabling the establishment of HR as a strategic organizational function and credits this to the high competition in the business environment which is further pressurizing achievement of greater performance, productivity and profits for business/organizational sustenance. For this, firstly HR initiatives must be made quantifiable through appropriate measures. Lundgaard (2009) suggests a six-domain framework that identifies six key areas for HR: staffing, training/development, appraisal, rewards, organizational governance, and communication.
Obtaining HR analytics based on these six core areas makes measuring HR function feasible. Application of this framework to HR initiatives still depends upon the measurability of these areas, for which Hunter et al (2005) have suggested the Balanced Score Card (BSC) system. First proposed by Kaplan and Norton, this framework allows linking strategy to value-creating processes. As stated by Kaplan and Norton (1996. p.2), ‘the BSC translates an organization’s mission and strategy into a comprehensive set of performance measures that provides the framework for a strategic measurement and management system.’ The BSC measures organizational performance across four balanced perspectives: financial, customers, internal business processes, and learning and growth. It helps in capturing the critical value-creation activities of skilled and motivated employees. All activities that an organization needs to perform in order .to achieve its goal can be categorized according to these perspectives.
