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Hardcover The Workforce Scorecard: Managing Human Capital to Execute Strategy Book

ISBN: 1591392454

ISBN13: 9781591392453

The Workforce Scorecard: Managing Human Capital to Execute Strategy

In a marketplace fueled by intangible assets, anything less than optimal workforce success can threaten a firm's survival. Yet, in most organizations, employee performance is both poorly managed and underutilized. The Workforce Scorecard argues that current management and human resources practices hinder employees' ability to contribute to strategic goals. To maximize the power of their workforce, organizations must meet three challenges: view their...

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How to increase the ROI of human "capital"

It is more important now than ever before to measure human performance accurately and consistently, especially given the rapidly increasing use of outsourcing which requires effective supervision of those to whom important tasks are entrusted. Although this book was written primarily for HR executives, I think it can also be of substantial interest and value to other senior-level executives as they are challenged to determine organizational priorities and then to formulate strategies by which to achieve specific objectives. I agree with countless others that is it difficult (if not impossible) to manage what cannot be measured. I am also convinced that appropriate metrics must be selected, and, that primary importance must be placed on measurement of those initiatives on which success (however defined) depends. The authors of this book provide a cohesive, comprehensive, and cost-effective program by which workforce success can be monitored and measured. According to Huselid, Becker, and Beatty, their analysis "begins by being clear about what we need to know. If we don't know what we need to know, we will never know it. Too often we measure what is easy rather than what is right....Second, knowing a lot about the wrong thing not only is unhelpful, but can be misleading. The Workforce Scorecard points out that not all customers, strategies, or products are equal, [nor are all employees or workforces]...The harsh reality of managing people is that differentiation must occur, with some employees more equal than others." I agree while presuming to add that those who add the greatest value to the given customers are those who add the greatest value to the given employer. This is what the authors have in mind when noting the difference between equity and equality: "Equity means that those who give more will get more; equality means that all will be treated equally." In this context, I am reminded of Carla O'Dell's discussion of many of these same issues in If Only We Knew What We Know in which she asserts that there are in almost all organizations what she calls "beds of knowledge" which are "hidden resources of intelligence that exist in almost every organization, relatively untapped and unmined." She recommends a number of strategies to "tap into "this hidden asset, capturing it, organizing it, transferring it, and using it to create customer value, operational excellence, and product innovation -- all the while increasing profits and effectiveness." This is precisely what Huselid, Becker, and Beatty have in mind when explaining the importance of identifying and then obtaining the information needed for managing human capital effectively to execute strategy. I wish it were possible to reproduce within this brief commentary Figure 1.1 (on page 4) and Figure 1.2 (on page 7) which brilliantly illustrate the essential components of "Managing Human Strategy" and "Workforce Success: The Impact of Workforce Strategy on Business Strategy Execution." In

A must read for every HR and Business Leader.

Workforce Scorecard is an awesome addition to the Strategy collection focussed on HR. The authors clearly drive home the message that one of the key's to Business success is the focus on HR Strategy and Execution of the same.

Covers both academic principle and the needs of practical reality

Two Professors of Human Resource Management at Rutgers University and the Chairman of the Department of Organization and Human Resources of SUNY-Buffalo combine their knowledge in The Workforce Scorecard: Managing Human Capital To Execute Strategy, a guide written especially for business leaders and CEOs looking for a means to accurately assess their human resources and capital. Chapters address how to build an evenhanded and objective "workforce scorecard", the role of line managers, workforce metrics, ideal communication and learning programs for the workforce scorecard, how to focus on the goal of a more productive workplace through expert selection and management of human capital, and much more. A slightly general but solidly written treatise that covers both academic principle and the needs of practical reality.

Very Cerebral!!!

An excellent book for HR Practitioners to take HR to the next level in their organizations. Line Managers must read this to help clearly define and execute workforce stategy as an off shoot to firm strategy and make HR accountable to help realize it. This book is very insightful and can be used as required reading for middle and senior managers in organizations. Take your time to read it and assimilate the concepts because these tools are very powerful.

MEASURE WHAT REALLY COUNTS-PEOPLE MAKE STRATEGY A REALITY!

This book puts a bright light on how and why an effective workforce strategy is crucial for the execution of business strategy. This vital link is explored in depth. The authors show how building on the HR function links to building the effective workforce which drives business success. The four elements of the scorecard form a series of building blocks culminating in strategy execution: 1) workforce mind-set and culture, 2) workforce competencies; 3) leadership and workforce behavior; and 4) workforce success. Ideally, workforce success is measured by its impact on business success (carrying out strategy). An extensive list of metrics is provided for these four elements. The authors bring together the HR scorecard, the workforce scorecard, and the balanced scorecard. There is an extensive discussion of strategy execution and also of the role of communication and learning programs. A final chapter provides a diagnostic tool for assessing the big picture-the capability to manage and measure the human capital dimension of strategy execution. Finally, someone has got it right! As a reviewer, as well as a consultant (hrconsultant.com), I have seen HR fixated on measuring costs rather than profit-generating business results. This book helps us get away from seeing people exclusively as a cost (to be reduced, even if it's self-defeating) and turns to the the fact that people are the key value-creating asset. This is a terrrific book that makes it crystal clear: people turn strategy into business results...MEASURE THAT and maybe, just maybe, the light will dawn for top executives!
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