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The rationale of the Balanced Score Card is based on the idea that there should be a
causal link between successful implem...
Strategic
Value
Proposition
Strategic
Value
Proposition
The People Management Story – The Generic Objectives
FINANCIALS 16...
Strategic
Value
Proposition
Strategic
Value
Proposition
Perspective Metric Explanation Formula/Example
STAKEHOLDERS
Intern...
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The People Management Story

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From BSC to Metrics

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The People Management Story

  1. 1. The rationale of the Balanced Score Card is based on the idea that there should be a causal link between successful implementation of key initiatives within an organization, broadly grouped according to the following “perspectives” – People and innovation; Internal Processes and Systems; Customers and Stakeholders as well as Finance. The causal links between these are outlined below: Strategic Value Proposition Strategic Value Proposition Based on the “right story” you can set the correct objectives….Based on the “right story” you can set the correct objectives….
  2. 2. Strategic Value Proposition Strategic Value Proposition The People Management Story – The Generic Objectives FINANCIALS 16. Optimise the cost per hire 17. Optimise the following: a. H&S Expense per FTE b. Industrial Dispute Absence Days per FTE 14. Optimize Employee engagement and correlate with retention and productivity measures 19. Benchmark and improve Return on Human Investment Ratio STAKEHOLDERS 12. Set targets for Customer satisfaction with quality of the workforce and availability of right competencies – set targets for improvement 13. Set Targets for Customer satisfaction with quality of HR support, advice and efficiency - set targets for improvement 14. Set targets for improving on the standing of the business as employer of choice and top performer in terms of KING III or relevant guidelines 15. Align priorities in action with the espoused values of the business – implement interventions for change – include corp citizenship and BEE INTERNAL BUSINESS PROCESSES &SYSTEMS 6. Institute/Review/ 7. Update the Workforce Planning System, based on: a. Clear job profiles (incl competencies) b. Supply and demand c. Link to succession and talent management 7. Develop/review employment brand strategy, recruitment and selection system and processes and train all role players in this 8. Develop and implement retention strategy 9. Develop/review and implement performance management & learning and development system – create structure and process to support 10. Implement EVP 11. Develop/review and implement succession management that: a. Identifies succession risks and bench strengths b. Readiness thresholds c. Development paths d. EVP per position a. Ensure cross functional integration of the total HCM value chain by implementing appropriate systems PEOPLE AND INNOVATION 1. Define talent populations – answers the question who is our talent 2. Define What Would It Take To Succeed Here Model – answers the question of what characteristics talent have 3. & 4. Review the organization design, and structure and define: a. Talent pipeline b. The competencies (competency models) for the pipeline c. The assessment instruments to identify and develop people in the pipeline 5. Define the desired leadership and performance climate - answers the question related to optimizing performance and contribution PROPOSED METRICS TO TELL THE PEOPLE MANAGEMENT STORY PROPOSED METRICS TO TELL THE PEOPLE MANAGEMENT STORY Perspective Metric Explanation Formula/Example PEOPLE AND INNOVATION Distribution of talent pool performance Numeric, per qualification, performance distribution of employees per talent pool % of specific variable in relation to other variables Demographic mirroring of talent pool(s) Representation of groups, in relation to total talent pool – consider gender, BEE, disability etc. % of specific variable in relation to other variables Bench strength Metric used to gauge the number of successors are possible for any given position(s) Example: there are 14 qualified successors for level 1 executives Engagement Index Relative measure of employees’ engagement in their work. Survey Results High Performer Growth Rate Percentage of performance appraisal participants whose rating improved to a “high” rating from a previous rating that was less than “high.” Performance Appraisal Participants Rating High / Performance Appraisal Participants Previous Rating Non-High * 100 Readiness Ratio Number of Potential Successors who are ready for earmarked positions in relation to total positions that require successors Potential Successors/Total Succession Positions *100 Perspective Metric Explanation Formula/Example INTERNAL BUSINESS PROCESSES &SYSTEMS Average Time To Fill Average number of days elapsed between requisition date and offer acceptance for internal and external hires. Total Days to Fill / Offers Accepted Recruitment Cost Per Hire Recruitment expense per hire, including internal and external hires. Recruitment Expense / Hires Termination Rate Voluntary/Involuntary terminations as a percentage of average headcount. Voluntary/Involuntary Terminations / Average Headcount * 100 Avg. Termination Value The average value of each termination during the reporting period. Total Termination Value / Terminations Offer Accept Rate Offer acceptance reflect the relevance of your EVP Offers Accepted/Offers Made * 100 Internal Customer Satisfaction Survey internal customer satisfaction with system functionality, accessibility, uptime etc. Survey Results
  3. 3. Strategic Value Proposition Strategic Value Proposition Perspective Metric Explanation Formula/Example STAKEHOLDERS Internal Customer Satisfaction 1. Survey internal customer satisfaction with quality of the workforce and availability of right competencies set targets for improvement 2. Survey internal customer satisfaction with quality of HR support, advice and efficiency - set targets for improvement Survey Results Employee Engagement Survey levels of employee engagement and correlate with retention and productivity measures – set targets to improve Survey Results Values Alignment Survey values alignment behaviour – set targets to improve Survey Results Employment brand strength Relative measure of the attractiveness of the organization’s employment value proposition. Survey Results Perspective Metric Explanation Formula/Example FINANCIALS Cost Per Hire Recruitment expense per hire, including internal and external hires. Recruitment Expense / Hires Operating profit per FTE Average profit generated by employees Operating Profit t / Number of FTE’s H&S Expense per FTE Total Health and Safety H&S Expense / FTE Human Investment Ratio Investment in employees as a contribution to profit (Operating Profit + Total Compensation Expense) / Total Compensation Expense Return on Human Investment Ratio Return on investment in terms of human resource Operating Profit t / Total Compensation Expense The People Management Story – The Generic Objectives FINANCIALS 16. Optimise the cost per hire 17. Optimise the following: a. H&S Expense per FTE b. Industrial Dispute Absence Days per FTE 14. Optimize Employee engagement and correlate with retention and productivity measures 19. Benchmark and improve Return on Human Investment Ratio STAKEHOLDERS 12. Set targets for Customer satisfaction with quality of the workforce and availability of right competencies – set targets for improvement 13. Set Targets for Customer satisfaction with quality of HR support, advice and efficiency - set targets for improvement 14. Set targets for improving on the standing of the business as employer of choice and top performer in terms of KING III or relevant guidelines 15. Align priorities in action with the espoused values of the business – implement interventions for change – include corp citizenship and BEE INTERNAL BUSINESS PROCESSES &SYSTEMS 6. Institute/Review/ 7. Update the Workforce Planning System, based on: a. Clear job profiles (incl competencies) b. Supply and demand c. Link to succession and talent management 7. Develop/review employment brand strategy, recruitment and selection system and processes and train all role players in this 8. Develop and implement retention strategy 9. Develop/review and implement performance management & learning and development system – create structure and process to support 10. Implement EVP 11. Develop/review and implement succession management that: a. Identifies succession risks and bench strengths b. Readiness thresholds c. Development paths d. EVP per position a. Ensure cross functional integration of the total HCM value chain by implementing appropriate systems PEOPLE AND INNOVATION 1. Define talent populations – answers the question who is our talent 2. Define What Would It Take To Succeed Here Model – answers the question of what characteristics talent have 3. & 4. Review the organization design, and structure and define: a. Talent pipeline b. The competencies (competency models) for the pipeline c. The assessment instruments to identify and develop people in the pipeline 5. Define the desired leadership and performance climate - answers the question related to optimizing performance and contribution PROPOSED METRICS TO TELL THE PEOPLE MANAGEMENT STORY PROPOSED METRICS TO TELL THE PEOPLE MANAGEMENT STORY

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