Product Type: Market Research Report
Published by: Business Intelligence
Published: May 2005
Product Code: R125-65Description Practical advice on developing strategic HR measures
HR Directors are under unprecedented pressure to demonstrate the value of HR to the business. Senior managers, along with other stakeholders inside and outside the organization, are looking for hard evidence of HR’s contribution to business development and performance.
The new HR measurement agenda is being driven by a number of groups:
- Senior managers looking for a demonstration of HR's bottom line contribution.
- Government and regulatory bodies calling for companies to report on human capital and people performance issues
- Investors, analysts, partners and other stakeholders who want greater understanding of HR’s impact on the business.
- Not least, those HR Directors who want to be accepted as equal partners by the business and know how vital it is to demonstrate incontrovertibly that HR is essential to the achievement of business goals.
For all these reasons, there is a new strategic HR measurement agenda in the making.
World-Class HR: the new measurement agenda combines the experience of innovative companies with emerging best-practice principles to show you how to build indicators and measurement programme that supports the development of a world-class HR capability.
With this management report find out how to:
- Improve the visibility of HR’s business value
- Define actionable HR measures
- Assess the value of your organization’s human capital
- Use the balanced scorecard to align HR measures with corporate goals
- Link intangible measures to bottom-line performance
- Use measures as a catalyst for performance improvement
- Develop effective benchmarking and reporting
Table of Contents - Chapter 1: Introduction
- Redefining HR Strategy: Survey Findings
- Measuring HR Value: Confidence and Demonstrability
- Measuring HR Value: the Intangible made Tangible
- Measuring HR Value: the Human Dimension of Business
- Accounting for human capital: first attempts
- The balanced scorecard approach to human capital
- Measuring people’s contribution: The Human Capital Monitor
- Measuring HR Value: Four Key Truths
- Truth No 1: having a measure capable of being linked to essential corporate goals does not mean you are using it in that way
- Truth No 2: casual links are never self-evident - they have to be proved (and re-proved)
- Truth No 3: Validity is only achieved if the metric succeeds in capturing what it is supposed to
- Truth No 4: The right data is useless if it is not acted on
- Conclusion: Linking Measurement to Change
- Case Study: Novo Nordisk
- Chapter 2: Measuring Human Capital
- Tailored or Benchmarked?
- Big Picture or Small Picture?
- Tangible or Intangible?
- Conclusion: Alignment or Projection?
- Action Points
- Case Study: Reuters
- Chapter 3: Measuring Commitment
- Measuring Commitment: The Lessons from Tracking M&As
- Conclusion: Tracking Changing Goalposts
- Action Points
- Case Study: Deutsche Bank
- Chapter 4: Measuring Engagement
- Measuring Engagement: Ongoing assessment
- Case Report: Royal Bank of Scotland
- Case Report: Reuters
- Measuring Engagement: Specific Initiatives
- Case Report: British Airways
- Case Report: The Children’s Mutual
- Case Study: Central Norfolk Health and Social Care Economy
- Chapter 5: Measuring Innovation
- The Creative Class Index
- The Strategic Competencies Approach
- The Cultural Assessment Approach
- The Importance of Cross-correlated Indicators
- Case Report: Measuring and assessing ‘freedom to fail’
- Case Study: Nortel
- Chapter 6: Measuring Strategic Capabilities
- Measuring Strategic Capabilities: The Ulrich/Smallwood Model
- Case Report: InterContinental Hotels Group
- Conclusion: Alignment and the Role of the Balanced Scorecard
- Case Study: Yorkshire Water Services
- Chapter 7: Reporting and Benchmarking Human Capital
- Attempts to Quantify Value
- Establishing the Right Framework
- Conclusion: More than a Collection of Indicators
- Action Points
- Case Study: Allied Irish Bank
- Chapter 8: Developing Strategic HR Measurement Capability
- The Mercer/CIPD Framework
- A Training Needs Assessment
- Setting human capital management in context
- Getting started: gathering and collating the data
- Tools and methodologies
- Reporting the data
- Conclusion: Towards a Dedicated Human Capital Model
- Case Study: Royal Bank of Scotland
- Chapter 9: Executive Summary
- The Pathway to Strategic HR Measurement Excellence
- Gathering the data
- Collating the data
- Choosing the tools and techniques
- Training HR staff
- Integration into the operational and finance review cycle
- Internal reporting
- External reporting
- Towards a dedicated human capital model
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