Balanced Score Card for measuring Individual Perf.

Human Resources » Performance Management

	Message From: tara	Total Posts: 34	Join Date: 25/12/2006
Rank: Executive	Post Date: 30/06/2008 01:09:53	Points: 170	Location: United States

Hi,

I am in need of some practical data on Balanced Score Card Method for measuring Individual Performance. We have a KPI based system of appraisals and want to further strengthen it by introducing BSC measurement method. Would request all those who have already implemented this method to measure their employee's performance, to please share the practical details with me. I have the conceptual data on BSC.

Regards,

tara

	Message From: vinayakprasad4	Total Posts: 3	Join Date: 25/12/2006
Rank: Beginner	Post Date: 22/07/2009 07:52:43	Points: 15	Location: United States

Hi Tara!

Its great to know that many organizations are switching to the BSC system.

I work in a financial institution and its our 3rd year of the BSC implementation. Trust me, its far better than the old performance appraisal.

Offcourse, its not that easy to implement the BSC as the concept of objective target setting & evaluation may not fit in well in the minds of the workforce.

Therefore, the process needs to be done step by step.

Also, you might face difficulty in setting the objective KPIs / KRAs & Targets for the support functions like HR,Administration etc.

Regards,

Vinayak.

	Message From: patrickfoya	Total Posts: 2	Join Date: 25/12/2006
Rank: Beginner	Post Date: 29/01/2010 12:55:27	Points: 10	Location: United States

When implementing the BSC it is very critical that the top management not only buys the process but also acts as a champion of the process. All top managers must be subject to goal setting/appraisal using the BSC. If top management and even the board (if applicable) is wishy washy about the initiative then you will encounter massive resistance which will make it very difficult to implement the BSC.

So i recommend that one you have sensitized your employees through training, the first cadre to use the system must be the CEO and direct reports. This way a message is sent to the direct reports and others down the hierachy that the organisation is serious about the BSC, and this isnt just another HR initiative.

Another observation i have is, since the BSC is quite complex compared to traditional appraisal systems, the training must be tailored carefully and the trainer must take enough time to ensure that everyone understands the concept and its application.Do not rush the training e.g. two hour session, you may end up with a disaster. During the training build in as many practical examples and role plays as possible.

Regards,

Patrick

	Message From: examplecg	Total Posts: 6	Join Date: 25/12/2006
Rank: Beginner	Post Date: 14/09/2010 05:34:58	Points: 30	Location: United States

Hi,
Typically the individual version of BSC is called "Personal Scorecard" which is derived based on organizational objectives/measures/targets that decide the cross-functional and in-functional initiatives (programs) and budgets. Once this has been worked out, the individual scorecard can be worked out which could have a combination of measures (that are direct flow down from strategic measures), measures (KPIs and targets that arise out of initiatives that have to be successfully delivered - both lead and lag indicators). In addition to this, there could be additional indicators that drive improvement in routine tasks and deliverables.

To illustrate, a marketing manager could have indicators pertaining to Revenue (say revenue per customer), marketshare (absolute and relative), marketing program delivery performance (for eg., # of channel partners recruited, promotion effectiveness) and certain task driven indicators (on time report submittal, travel cost reduction etc).

Quite obviously there is no single template applicable to each designation in an organization as the content of the scorecard will depend on organization's strategy, programs and business architecture.

To know more about Balanced Scorecard and strategy, you may wish to join the Strategy and analytics forum at http://strategyanalyticsforum.examplecg.com. To acquire Balanced scorecard competencies and implementation skills, visit http://www.examplecg.com/services/strategy_analytics.htm

	Message From: senthil kumar R	Total Posts: 2	Join Date: 25/12/2006
Rank: Beginner	Post Date: 28/10/2010 09:56:59	Points: 10	Location: United States