Impact Of High-Performance Human Resources - MyAssignmenthelp.com

Question: Discuss about the Impact Of High-Performance Human Resources. Answer: Introduction: A balanced HR scorecard can be defined as a strategy performance management tool that is used by HR managers to monitor managerial activities which eventually results in prosperity of the organization. In this report, a balanced critique of the benifits of the scorecard in Starbucks has been discussed. Discussion HR Scorecard benefits for organizational performance measurement Considering the fact the chief performance indicator for HR includes consumer satisfaction, financial results, career development and process improvement, a balanced HR scorecard helps the managers of an organization to identify the improvement and agree with the strategic approach. The major benefits of implementing a HR scorecard are listed below: Financial performance: A score card approach will help Starbucks to obtain financial stability in adverse conditions. An effective HR scorecard can spot trends and calculate the amount of return on investment. Consumer satisfaction: With the help of a balanced HR scorecard, the HR managers of Starbucks will be able to measure the potential of the current initiatives taken by the company to satisfy consumers. This approach will help the managers to decide the future initiatives for the prosperity of the company (Becker, Huselid Ulrich, 2001). Employee satisfaction: An effective HR scorecard reports the results of employee training processes, employee motivation and employee surveys. This method of tracking and monitoring will help Starbucks to deal with employee dissatisfaction. Improvement in Productivity: A balanced HR scorecard approach will helps the HR Managers of Starbucks to correlate HR programs like building employee competency, developing leadership skills and improving reward system with their impact on the business. This, in turn helps the organization to attain strategic goals (Kehoe Wright, 2013). Explanation of the competitive advantages due to usage of an HR Scorecard An effective balanced HR Scorecard approach, apart from focusing on efficient usage of fixed capital, gives priority to intangible assets like employee skills, intellectual properties, knowledge and abilities of both the managers and employees and effective company consumer relationship (Phillips, Stone Phillips, 2012). These factors are considered to crucial sources of competitive advantages and have immense contribution to the long-term economic success of the companies. For example, Starbucks maintain its brand equity by providing quality experience and identical taste of its gourmet coffee in all of its global stores. Challenges faced while implementing a score card Some of the challenges that may be faced during developing an effective balanced scorecard for Starbucks include lack of effective data collection and reporting, lack of review structure, poorly defined matrices and excessive internal focus. For example the implementation of balanced score card at Kenyatta national hospital has faced challenges like lack of resources, functional equipments, communication and leadership (Northcott Ma'amora Taulapapa, 2012). Measures to solve the challenges faced While for efficient data collection and reporting, companies like Starbucks should invest on automated systems that will help the company with data collection and subsequent reporting, for best performance of the score card, they should be reviewed frequently. Matrices require to be collected at ideal frequency and defining in a way that they can be used even if the targets differ. Apart from that, SWOT analysis should be done in order to avoid too much internal focus (Jskelinen Sillanp, 2013). Objectives of HR Score card in regards to the following four dimensions: HR deliverables- The crucial HR deliverables that needs to be implemented in HR scorecard of Starbucks are recruiting, training, compensation and performance structure and reward structure to encourage and identify employee innovations and ideas. The effective HR deliverables of Sears Company have made it a desirable place to work. High-performance work system- This criteria, being the key to maximize employees performance, should include recruitment of highly skilled workers, creating validate model for hiring, managing, developing and rewording employees and implementing effecting training for employees HR system alignment- This factor includes focusing on specific elements of the HR system that are crucial to produce an effective HR deliverable. Competency-based recruitment will allow Starbucks to monitor the efficiency of its HR system of recruiting employees based on their competency model. Besides that the HR department should also provide benefits to its skilled employees for employee retention. HR efficiency measures- This step includes identifying the particular task that the HR must be able to perform in order to achieve the company goals. Starbucks needs to identify cost per hire as a strategic measure. Conclusion: From the above report it can be concluded that in this era of highly competitive market, it is really crucial for companies like Starbucks to implement an effective balanced HR scorecard approach to maintain and enhance its brand equity. The HR scorecard will not only help the company to control its costs and creating a value of its own, it will also help with employee retention. Reference List: Becker, B., Huselid, M. A., Ulrich, D. (2001). The HR scorecard: Linking people, strategy, and performance. Boston, MA: Harvard Business School Press. Jskelinen, A., Sillanp, V. (2013). Overcoming challenges in the implementation of performance measurement: case studies in public welfare services.International Journal of Public Sector Management,26(6), 440-454. Kehoe, R. R., Wright, P. M. (2013). The impact of high-performance human resource practices on employees attitudes and behaviors.Journal of management,39(2), 366-391. Northcott, D., Ma'amora Taulapapa, T. (2012). Using the balanced scorecard to manage performance in public sector organizations: Issues and challenges.International Journal of Public Sector Management,25(3), 166-191. Phillips, J. J., Stone, R., Phillips, P. (2012).The human resources scorecard. Routledge.