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Performance Metrics: Balanced Scorecard [WLOs: 1 and 2] [CLOs: 1 and 2] A key measurement that is used by human resource management is the balanced scorecard. Prior to beginning your discussion, read the Human Resource Measurement: A Balanced Scorecard Links to an external site. article. In the article, an example of using the balanced scorecard for recruiting was described. For this discussion, put yourself into the role of a human resource manager that has been asked by the CEO to create a balanced score card for another area of human resource management, such as motivation, performance reviews, training, laws and regulations, or work environment safety. Select an area and create a balanced scorecard that could be used. Your balanced scorecard must include the following: · Objective(s) · Description · Actions · Measures In addition to your balanced scorecard example, explain how the results can positively affect the organization. Your initial post must be a minimum of 300 words. Week 6 Lecture In Week 6, we will review how a balanced scorecard can assist organizational leaders. According to Nasution, & Sembiring (2019), the rapid development of or global economy has resulted in the increasing importance for human resource leaders to support the improvement of employee performance. A key measurement that is used by human resource management is the balanced scorecard (BSC). According to Mio, Costantini & Panfilo (2022) the BSC was developed by Kaplan and Norton to alleviate problems arising from the wide use of financial results control systems and accounting measures. The balanced scorecard is based on the measurement of organizational performance from 4 perspectives (Balanced scorecard basics, n.d.). 1. Learning and Growth 2. Business Process 3. Customer Perspective 4. Financial Perspective The Bain & Company guide (2015) described what balanced scorecards do as: · Articulate the business's vision and strategy. · Identify the performance categories that best link the business's vision and strategy to its results (e.g., financial performance, operations, innovation, employee performance). · Establish objectives that support the business's vision and strategy. · Develop effective measures and meaningful standards, establishing both short-term milestones and long-term targets. · Ensure companywide acceptance of the measures. · Create appropriate budgeting, tracking, communication, and reward systems. · Collect and analyze performance data and compare actual results with desired performance. · Act to close unfavorable gaps. References Balanced scorecard basics. (n.d.). Balanced Scorecard InstituteLinks to an external site.. Retrieved from http://balancedscorecard.org/Resources/About-the-Balanced-Scorecard. Nasution, I.H., & Sembiring, M. T. (2019). Human resource scorecard based human resource (HR) assessment system designLinks to an external site.. IOP Conference Series.Materials Science and Engineering, 505(1). https://doi.org/10.1088/1757-899X/505/1/012034. Mio, C., Costantini, A., & Panfilo, S. (2022). Performance measurement tools for sustainable business: A systematic literature review on the sustainability balanced scorecard useLinks to an external site.. Corporate Social - Responsibility and Environmental Management, 29(2), 367-384. https://doi.org/10.1002/csr.2206. The Bain & Company guide. (2015, June 10). Balanced scorecardLinks to an external site.. Retrieved from http://www.bain.com/publications/articles/management-tools-balanced-scorecard.aspx.