humanresourcemanagementhumanre

sourcemanagementhumanresourcema
nagementhumanresourcemanagement
humanresourcemanagementhumanre
HUMAN RESOURCE
sourcemanagementhumanresourcema
MANAGEMENT
nagementhumanresourcemanagement
humanresourcemanagementhumanre
HR SCORECARD
sourcemanagementhumanresourcema
(HEALTHCARE INDUSTRY)

nagementhumanresourcemanagement
humanresourcemanagementhumanre
sourcemanagementhumanresourcema
SUBMITTED TO: COMPILED BY:

nagementhumanresourcemanagement
Prof. Srabasti Chatterjee, Mannika Agarwal,
ICFAI Business School, Enroll. No. – 10BSPHH010386,

humanresourcemanagementhumanre
Hyderabad. Seat No. – 34,
Section – K,

sourcemanagementhumanresourcema
ICFAI Business School,
Hyderabad.

nagementhumanresourcemanagement
humanresourcemanagementhumanre
TABLE OF CONTENTS
HR SCORECARE Vs BALANCED SCORECARD .............................................................................3
BALANCED SCORECARD...............................................................................................................4
Core Business Strategy....................................................................................................................4
Financial Perspective ......................................................................................................................4
Customer Perspective ......................................................................................................................5
Internal Business Perspective...........................................................................................................6
Human Resource Deliverables .........................................................................................................6
HR SCORECARD..............................................................................................................................7
Strategic HR Focus .........................................................................................................................7
HR Competencies ...........................................................................................................................7
HR Systems....................................................................................................................................8
HR Practices...................................................................................................................................8
HR Deliverables .............................................................................................................................8

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 HR SCORECARE Vs BALANCED SCORECARD

HR SCORECARD BALANCED SCORECARD

HR Systems Customer
Perspective

Internal
HR
Strategic Core Business
HR HR
HR Business
Competencies Deliverables
Deliverables Perspective
Focus Strategy

Financial
HR Practices Perspective

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BALANCED SCORECARD

Core Business Strategy

Create a world-class integrated healthcare delivery system, entailing the finest medical skills
combined with compassionate patient care.

Financial Perspective

Motive: A sustainable revenue model to fulfill the future endeavors and cater to the expectations
of all the stakeholders of the organization.

Goals Measures
Increase in Profits The margin between the costs incurred in procuring the
products and services and the revenue earned after providing
them to the customers.
Shareholder Wealth The market capitalization of the company
Maximization
Employment of world The cost incurred on research and development and the profits
class services generated thereof.
Employment of best Cost per hire.
workforce Cost of recruitment.

Leading Indicators:

Weekly / Monthly increase in revenue.

Profit earned on various healthcare services provided.
Rate of bad debts.
Movement in share price.

Lagging Indicators:

Investment on research and development.

Profit per employee.

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 Return on various healthcare initiatives.
Return on promotional activities.
Annual reports comprising of various financial statements.

Custome r Pe rspective

Motive: All the endeavors, be guided by the needs of the patient, creating a partnership that is
effective and personal across the continuum of care and to put the patients first and to exceed the
expectations of the customers with superior service, outstanding clinical care and unsurpassed
responsiveness.

Goals Measures
Customer loyalty / This can be measured in years / months / weeks. Even the
retention number of new customers as recommended by the old ones who
are still maintaining the treatment with the unit.
Waiting Time Time spent in the queue for registration / form filling or any
other related procedure by the guardians of the patient.

Leading Indicators

Customer response – positive / negative.

Waiting time for the treatment
Procedure and paper work per patient.

Lagging Indicators

Annual customer turnover rate.

Customer loyalty
Awards, accolades and recognitions received by the organization like Sir Nilrattan Sirca
Memorial Oration (JIMA) Award, Padma Bhushan, Modern Medicare Excellence Award,
etc.

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Inte rnal Business Perspective

Motive: Always perusing quality with efficient, equitable care at all levels of a patient's
experience. Through a consensus-based process, clinical quality and efficiency measures meeting
the needs and expectations of the general public, government, providers and practitioners.

Goals Measures
Economies The economies of scale can be measured by distribution of
fixed cost over the increasing number of patients thus reducing
it to the minimum. The economies of scope can be measured by
how many multiple services can be provided by using the
current resources / technology.
Waiting Time Time spent in the queue for registration / form filling or any
other related procedure by the guardians of the patient.

Leading Indicators:

Use of upgraded technology

Reduction in waiting time
Operational efficiency – timely availability of medicines, availability of concerned
specialists / doctors, etc.

Lagging Indicators:

Reduction in per patient cost

Economies of scale and scope

Human Resource Deliverables

This perspective of a balanced scorecard is a part of an HR scorecard. It deals with HR

perspective of a balanced scorecard and is an integral part of HR scorecard as well. The HR
scorecard is discussed further.

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HR SCORECARD

HR scorecard is a tool that proves that human resource is a revenue generator for an
organization, not a cost function. It comprised of four key parameters. These HR parameters
focus on organization’s HR strategy which is framed in line with the core business strategy. They
are:

HR Deliverables
HR Competencies
HR Practices
HR Systems

Strategic HR Focus

Develop an effective system of human resource which is built on collective strength and cultural
diversity of everyone, working with open communication and mutual respect to achieve the
major objective of providing the finest medical skills combined with compassionate patient care.

HR Competencies

Motive: It is related to the core human resource competency that an organization needs to have to
fulfill its strategic HR focus.

Leading Indicators:

Effective communication and networking

Person – Job Fit
Conflict resolution and management.

Lagging Indicators:

Career Development and counseling.

Decentralized communication network.
Long term relationships

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HR Systems

Motive: This parameter indicates that all the HR activities are aligned in an organization and not
on individual basis. HR practices in an organization should be complementing each other.

Leading Indicators:

Smooth functioning of the day to day activities.

Communication gap – existing or not
Medicinal supply, availability of respective staff (doctors, ward boys, nurses, etc.)

Lagging Indicators:

Achievement of long term HR objectives.

HR Practices

Motive: This parameter deals with ensuring that the best HR practices are followed in the
organization in tandem with the industry norms.

Leading Indicators:

Person – Organization Fit

Work environment and conditions
Transparency in hiring and pay procedures
Empathetic management

Lagging Indicators:

Employee Satisfaction
Retention Ratio
Employee motivation and performance

HR Deliverables

Motive: They are the HR outcomes like Job Satisfaction, Absenteeism, Employee Commitment,

Turnover, Retention Ratio, Citizenship behavior, etc. They are divided into two parts namely:

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 Performance Drivers – End result of HR outcomes

o Reduced Absenteeism

o Increased Job Satisfaction

o Enhanced Employee Commitment

o Reduced Employee Turnover

o Increase in Retention Ratio

Enablers – They help achieve performance drivers

o Effective working environment

o P-O and P-J fit

o Motivation and recognition

o Transparent HR policies

o Employees as an asset, not a liability

Leading Indicators:

Absenteeism

Employee Turnover

Lagging Indicators:

Citizenship Behavior

Job Satisfaction

Employee Commitment

Retention Ratio