Balanced Scorecard
Objective: Performance evaluations are utilized to measure employee levels of performance. The purpose of the evaluation is to establish clear expectations regarding performance as well as opportunities to increase growth and development. New employee evaluations should be completed on the 90th day of employment as a 90-day probationary evaluation. All other employees receive an annual performance evaluation.
Description: During the performance evaluation the Manager and the employee will review the jo description of the position that the employee holds. The metrics of the position will be discussed to ensure expectations of the role. Next, review any feedback and/or coaching sessions that occurred throughout the year. Verify if metrics were met, unmet, or were unobtainable. Finally, discuss future goals, such as growth and development, and promotion opportunities.
Actions: Review the metrics of the evaluation which are: 1.0 Unsatisfactory, 2.0 Inconsistent Performer, 3.0 Valued Performer, 4.0 Star Performer, and 5.0 Orchestrator of Excellence. Review the score of the self-evaluation provided by the employee. Then review the scores provided by the Manager of the employee.
Measures: Each section of the evaluation is broken into categories that align with the mission and values of the organization. Review the rates, feedback, coaching notes, disciplinary action, or accolade. Determine whether the employee met or did not meet by being categorized by: 1.0 Unsatisfactory, 2.0 Inconsistent Performer, 3.0 Valued Performer, 4.0 Star Performer, and 5.0 Orchestrator of Excellence. If the employee scores 1.0 Unsatisfactory, 2.0 Inconsistent Performer, a discussion must be including either a change in behavior or an alignment to meet goals as well as an action plan to ensure the employee is on track.
A balanced scorecard is necessary for an organization to ensure the overall performance as well as supporting the success of the metrics in place. The scorecard is considered to be strategic planning that organizations utilized to communicate what is to be accomplished, prioritizing, and measurement of targets. According to Gesuele & Romanelli (2015), “We use a balanced scorecard approach in terms of innovation, learning and growth perspective in order to verify that measurement performance methodologies may have a positive impact on employees’ perceptions about the organizational performance.” (pg.28).
In the performance management process, employees are highlighted for their contributions to goals which allow for organizations to meet their strategic objectives. This allows for stakeholders to measure and assess the capability of organizations and their obligations. According to n.d (2019) “It’s a necessary juggling act: Running a successful company is all about trying to keep many people as happy as possible.” “No matter what the owner or leadership of a company thinks, if the stakeholders aren’t happy, the company is not succeeding.” (para.1).
Resources
Gesuele, B. & Romanelli, M. (2015, February 10). Human resource measurement: A balanced scorecard approach (Links to an external site.) (Links to an external site.). Journal of Human Resource Management, 3(2-1), 28-32. doi: 10.11648/j.jhrm.s.2015030201.14
n.d. (2019, March 14). Council Post: Seven Strategies For Ensuring Stakeholders Are Pleased With Your Company's Performance. Retrieved February 01, 2021, from https://www.forbes.com/sites/theyec/2019/03/14/seven-strategies-for-ensuring-stakeholders-are-pleased-with-your-companys-performance/?sh=11da63ef3ca4