LEARN MORE...

Strategic Hr

Content type

User Generated

Subject

Business

School

Columbia Southern University

Type

Homework

Uploaded By

07Nagbal

Pages

Showing Page:

1/6

Running Head: HR STRATEGIC MEASUREMENT TOOLS 1

STRATEGIC HUMAN RESOURCES TOOLS

Name

College Name

Course Name

Date

Showing Page:

2/6

HR STRATEGIC MEASUREMENT TOOLS 2

Introduction

In human resource management, strategic HR management is the process of developing,

rewarding, and retaining employees. In this process, both the employees and the organization

benefit. HR professionals use various strategic tools to convert the objectives of a company into

human resource policies and practices. There are four main tools used in measuring performance.

These tools include HR scorecard, Economic Value Added (EVA), Balanced Scorecard (BSC),

and Return on Investment (ROI). This essay defines these four tools, compares, contrasts, and

discusses their advantages and disadvantages.

By definition, EVA is a human resource mechanism used to measure performance and

assess the performance of businesses (Pustylnick, 2010). ROI, conversely, is a financial evaluation

technique that is custom made by businesses to quantify the performance of the corporation or

each division. BSC is a strategic measurement tool used to keep track and improve business

functions and their outcomes (DeBusk & Crabtree, 2006). It measures four aspects of

organizations; finance, growth, corporate processes, and learning. Lastly, HR Scorecard is a

strategic measurement tool in HR used to manage and improve the human resource department.

As aforementioned, EVA is an HR mechanism used for evaluation of the effectiveness of

assets and is an absolute measure. EVA is distinctly related to the balanced scorecard as they both

measure the achievements of businesses non-financially. A significant difference is that while

EVA aims at adding value to the organization, BSC directs the firm towards the correct path for

goal achievement and the quest for fulfilling the tactical mission. BSC is a unique measurement

tool because any objective or foal can be identified as strategic (DeBusk & Crabtree, 2006).

Economic value-added, on the other hand, defines a goal that would only add value to a company.

Besides, while EVA is focused on developing a motivational system to improve revenue

Showing Page:

3/6

End of Preview - Want to read all 6 pages?

Access Now

Unformatted Attachment Preview

Running Head: HR STRATEGIC MEASUREMENT TOOLS STRATEGIC HUMAN RESOURCES TOOLS Name College Name Course Name Date 1 HR STRATEGIC MEASUREMENT TOOLS 2 Introduction In human resource management, strategic HR management is the process of developing, rewarding, and retaining employees. In this process, both the employees and the organization benefit. HR professionals use various strategic tools to convert the objectives of a company into human resource policies and practices. There are four main tools used in measuring performance. These tools include HR scorecard, Economic Value Added (EVA), Balanced Scorecard (BSC), and Return on Investment (ROI). This essay defines these four tools, compares, contrasts, and discusses their advantages and disadvantages. By definition, EVA is a human resource mechanism used to measure performance and assess the performance of businesses (Pustylnick, 2010). ROI, conversely, is a financial evaluation technique that is custom made by businesses to quantify the performance of the corporation or each division. BSC is a strategic measurement tool used to keep track and improve business functions and their outcomes (DeBusk & Crabtree, 2006). It measures four aspects of organizations; finance, growth, corporate processes, and learning. Lastly, HR Scorecard is a strategic measurement tool in HR used to manage and improve the human resource department. As aforementioned, EVA is an HR mechanism used for evaluation of the effectiveness of assets and is ...
Purchase document to see full attachment