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HUMAN RESOURCE
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MANAGEMENT
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humanresourcemanagementhumanre
HR SCORECARD
sourcemanagementhumanresourcema
(HEALTHCARE INDUSTRY)
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humanresourcemanagementhumanre
sourcemanagementhumanresourcema
SUBMITTED TO: COMPILED BY:
nagementhumanresourcemanagement
Prof. Srabasti Chatterjee, Mannika Agarwal,
ICFAI Business School, Enroll. No. – 10BSPHH010386,
humanresourcemanagementhumanre
Hyderabad. Seat No. – 34,
Section – K,
sourcemanagementhumanresourcema
ICFAI Business School,
Hyderabad.
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humanresourcemanagementhumanre
TABLE OF CONTENTS
HR SCORECARE Vs BALANCED SCORECARD .............................................................................3
BALANCED SCORECARD...............................................................................................................4
Core Business Strategy....................................................................................................................4
Financial Perspective ......................................................................................................................4
Customer Perspective ......................................................................................................................5
Internal Business Perspective...........................................................................................................6
Human Resource Deliverables .........................................................................................................6
HR SCORECARD..............................................................................................................................7
Strategic HR Focus .........................................................................................................................7
HR Competencies ...........................................................................................................................7
HR Systems....................................................................................................................................8
HR Practices...................................................................................................................................8
HR Deliverables .............................................................................................................................8
2
HR SCORECARE Vs BALANCED SCORECARD
HR Systems Customer
Perspective
Internal
HR
Strategic Core Business
HR HR
HR Business
Competencies Deliverables
Deliverables Perspective
Focus Strategy
Financial
HR Practices Perspective
3
BALANCED SCORECARD
Create a world-class integrated healthcare delivery system, entailing the finest medical skills
combined with compassionate patient care.
Financial Perspective
Motive: A sustainable revenue model to fulfill the future endeavors and cater to the expectations
of all the stakeholders of the organization.
Goals Measures
Increase in Profits The margin between the costs incurred in procuring the
products and services and the revenue earned after providing
them to the customers.
Shareholder Wealth The market capitalization of the company
Maximization
Employment of world The cost incurred on research and development and the profits
class services generated thereof.
Employment of best Cost per hire.
workforce Cost of recruitment.
Leading Indicators:
Lagging Indicators:
4
Return on various healthcare initiatives.
Return on promotional activities.
Annual reports comprising of various financial statements.
Custome r Pe rspective
Motive: All the endeavors, be guided by the needs of the patient, creating a partnership that is
effective and personal across the continuum of care and to put the patients first and to exceed the
expectations of the customers with superior service, outstanding clinical care and unsurpassed
responsiveness.
Goals Measures
Customer loyalty / This can be measured in years / months / weeks. Even the
retention number of new customers as recommended by the old ones who
are still maintaining the treatment with the unit.
Waiting Time Time spent in the queue for registration / form filling or any
other related procedure by the guardians of the patient.
Leading Indicators
Lagging Indicators
5
Inte rnal Business Perspective
Motive: Always perusing quality with efficient, equitable care at all levels of a patient's
experience. Through a consensus-based process, clinical quality and efficiency measures meeting
the needs and expectations of the general public, government, providers and practitioners.
Goals Measures
Economies The economies of scale can be measured by distribution of
fixed cost over the increasing number of patients thus reducing
it to the minimum. The economies of scope can be measured by
how many multiple services can be provided by using the
current resources / technology.
Waiting Time Time spent in the queue for registration / form filling or any
other related procedure by the guardians of the patient.
Leading Indicators:
Lagging Indicators:
6
HR SCORECARD
HR scorecard is a tool that proves that human resource is a revenue generator for an
organization, not a cost function. It comprised of four key parameters. These HR parameters
focus on organization’s HR strategy which is framed in line with the core business strategy. They
are:
HR Deliverables
HR Competencies
HR Practices
HR Systems
Strategic HR Focus
Develop an effective system of human resource which is built on collective strength and cultural
diversity of everyone, working with open communication and mutual respect to achieve the
major objective of providing the finest medical skills combined with compassionate patient care.
HR Competencies
Motive: It is related to the core human resource competency that an organization needs to have to
fulfill its strategic HR focus.
Leading Indicators:
Lagging Indicators:
7
HR Systems
Motive: This parameter indicates that all the HR activities are aligned in an organization and not
on individual basis. HR practices in an organization should be complementing each other.
Leading Indicators:
Lagging Indicators:
HR Practices
Motive: This parameter deals with ensuring that the best HR practices are followed in the
organization in tandem with the industry norms.
Leading Indicators:
Lagging Indicators:
Employee Satisfaction
Retention Ratio
Employee motivation and performance
HR Deliverables
Motive: They are the HR outcomes like Job Satisfaction, Absenteeism, Employee Commitment,
Turnover, Retention Ratio, Citizenship behavior, etc. They are divided into two parts namely:
8
Performance Drivers – End result of HR outcomes
o Reduced Absenteeism
o Transparent HR policies
Leading Indicators:
Absenteeism
Employee Turnover
Lagging Indicators:
Citizenship Behavior
Job Satisfaction
Employee Commitment
Retention Ratio