In a modern economy, human capital is the driving force behind the success of every organization. HR strategies are key differentiators and source of competitive advantage in today’s organization. HR managers find it difficult to manage a large human capital that usually contributes to help and track the functioning of other departments but fails to measure its own effectiveness. In this context, HR department has come out with a new innovative tool, HR Scorecard that establishes and develops a proper line of communication across all levels of the organization and manages a large human capital, which would contribute to the overall strategy of the organization. This HR Scorecard is based on the concept developed by Norton and Kaplan, i.e., Balanced Scorecard that is used in clarifying the organization’s vision and strategy and putting them into action. On the other hand, by enabling HR activities and workforce strategies to be aligned with the wider goals of the organization, one other measurement system called Workforce Scorecard is used in assessing the impact of the workforce on the current operations of the organization, as well as in determining the changes required to meet the objectives.The book is divided into two sections of which the first discusses the importance of human capital, its valuation, frameworks and studies made by different companies like Deloitte and Accenture. The second section discusses Balanced Scorecard, HR Scorecard, Workforce Scorecard and how the HR scorecard is used as a tool in linking people strategy with their performance.
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