There’s great interest in scorecards and dashboards, but how do you get started? Jayson Saba, vice president of Market Strategy, Ceridian HCM, offered his tips at the SHRM Talent Management Conference, held recently in San Diego.
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What’s the difference Between a Scorecard and a Dashboard?
A scorecard, says Saba, is a measurement tool of how well an entity is doing. It comprises several key performance indicators (KPIs) and metrics, and it often includes more than one area. A scorecard will have some targets. A dashboard is a monitoring tool that shows how a company is performing relative to a KPI/metric at any given time.
Meanwhile, he says, an HR dashboard provides high-level, real-time data related to the most critical measures of HR success. This is done in a visual fashion, similar to the dashboard on a car. Dashboards allow managers to examine information in greater levels of specificity, which can help to quickly identify and focus on potential problem areas. By linking the data on the dashboard to the key organizational metrics, managers can more effectively see the ties between HR outcomes and corporate goals. SHRM Foundation “Transforming HR Through Technology” (Johnson, Gueutal)
However, Saba admits, in every HR organization from the CHRO level down, the “scorecard” and “dashboard” have been used interchangeably.
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Dashboards Help Display Critical Skills
In an Aberdeen Group study of the most critical skills for future HR leaders, by far the most important was the ability to connect HR initiatives to the strategic priorities of the organization. Your dashboard can help to bring this home to management.
|
Critical Skill |
% of Respondents |
|
Ability to connect HR initiatives to the strategic priorities of the organization |
74% |
|
Ability to articulate the business case |
30% |
|
General business acumen |
29% |
HCM Trends 2014, Aberdeen Group, January 2014
Impact of Workforce Dashboards or Scorecards
Organizations using scorecards are twice as likely to indicate that HCM strategy is fully aligned with the business strategy, says Saba.
Case Study: Childhood Education Company
Saba offers a case study. The company:
- Provider of Head Start/Early Head Start and other comprehensive early child programs
- Serves almost 4,000 young children and families around the country every day
The challenges
- Extreme growth
- Manual workflows not scalable
- Disparate processes
The charge
- Help me show the CEO what I am doing
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Five-Part Scorecard
Saba recommended a five-part scorecard with the following sections:
- Talent acquisition
- Talent development
- Performance management
- Culture
- HR service delivery
1. Talent Acquisition
| Objectives |
Base-line |
1st Year |
3rd Year |
|
1. Increase the percentage of active open positions filled within a targeted deadline of 60 days. |
XX |
65% |
85% |
|
2. Maintain the employee retention rate (less company-initiated transitions) above 75% |
XX |
75% |
75% |
|
3. Increase the percentage of managers with active positions in the year who indicate satisfaction or high satisfaction with the HR hiring support provided, measured by survey. |
XX |
80% |
90% |
|
4. Cost per hire (Including advertising agency fees, employee referrals, travel cost of applicants and staff, relocation costs, recruiter pay and benefits) |
XX |
XX |
XX |
|
5. Vacancy rate: # of open reqs/ (head count + # of open reqs) |
XX |
XX |
XX |
In tomorrow’s Advisor, we will present the rest of Saba’s templates, plus we introduce our limited-time premium research report offer: purchase a copy of our latest report on HR Metrics Best Practices, and you’ll also receive our in-depth report on HR Technology Trends—free!