A balanced scorecard is a strategic management performance metric used to identify and improve various internal business functions and their resulting external outcomes. Balanced scorecards are used to measure and provide feedback to organizations. Data collection is crucial to providing quantitative results as managers and executives gather and interpret the information and use it to make better decisions for the organization.
Building an HR scorecard should not be considered a one time or even an annual event. To manage by measurement, human resource leaders must stay attuned to changes in the downstream performance drivers that HR is supporting.
If this drivers change, or if the key HR deliverables that support them change, the scorecard must shift accordingly.