Human Resource Management and Balanced Score Card Essay
Research objective: to find out the relationship between Balanced Score Card in relation with Human Resource development.
Research Questions: What are the areas of HRD in which BSC can be implemented? What is the importance of performance measurement systems for Sustainable HRD?
What are the problems associated with the successful implementation of BSC?
Hypotisis: Implemetation of Balanced Scorecard(BSC) has a major contiribution towards Human Resourse Development(HRD.)
By carrying out a …show more content…
A well-prepared and motivated workforce is possibly the most important of the three intangible assets to support an organization’s value creating processes (Garavan et al., 2001). According to him the most valuable asset of a 20th century company was its production equipment, while the most valuable asset of a 21st century institution will be its knowledge workers and their productivity. This clearly indicates the importance of HRD for the sustainable organizational success.
According to Rocha (2005), if we increase employee training about products, then they will become more knowledgeable about the full range of products they can sell; if employees are more knowledgeable about products, then their sales effectiveness will improve, followed by improvement in sales effectiveness. Then the average margin of the products they sell will increase. Progression up the hierarchy is replaced by the accumulation of competencies. Thomas N.Garavan(2001),argues that the dominant theme is one where individuals are required to exhibit competencies such as team working the development of network relationships and the acquisition of knowledge and learning capability. He argues that the level of expenditure on