For this assignment, you will write an essay in which you compare and contrast the following strategic measurement tools used by business and human resource professionals as presented in the Required Unit Resources for this unit. Compare and contrast the - Management
Instructions For this assignment, you will write an essay in which you compare and contrast the following strategic measurement tools used by business and human resource professionals as presented in the Required Unit Resources for this unit. Compare and contrast the following measurement tools. Economic Value Added (EVA) Return on Investment (ROI) Balanced Scorecard (BSC) HR Scorecard What are the advantages and disadvantages of each measurement tool? Give an example of how each could be used in your current (or a previous) organization. Support your essay with an introduction as well as a minimum of two references from the CSU Online Library. Your essay must be at least two pages in length, not counting the title or reference pages. Adhere to APA style when constructing this assignment, including in-text citations and references for all sources that are used. Please note that no abstract is needed. Attachments area MEASUREMENT TOOLS FOR STRATEGIC HRM LO 2-8 Identify the common measurement tools for strategic HRM. Housed within many HRMS are statistical packages for HRM. Just as we have to quantify and measure other parts of the organization, we also have measurement tools specific to HRM. Some of the most common tools are economic value added (EVA) balanced scorecards, including organizational scorecards and HR scorecards, and return on investment (ROI). Let’s take a brief look at each of these tools. SHRM G:1 Economic Value Added Economic Value Added (EVA) Economic value added (EVA) is designed as a method for calculating the creation of value for the organization’s shareholders. Economic value added (EVA) is a measure of profits that remain after the cost of capital has been deducted from operating profits. It provides shareholders and managers with a better understanding of how the business is performing overall. As an equation, EVA would look like this:104 EVA = Net operating profit after tax – (Capital used × Cost of capital) SHRM G:7 Return on Investment (ROI) So EVA is a measure of how much money we made through our operations minus the amount of money that we had to spend or borrow (at a particular interest rate) in order to perform those operations. For a company to grow, it must generate average returns higher than its capital costs. Return on Investment (ROI) The concept of ROI is, at its core, very simple. Return on investment (ROI) is a measure of the financial return we receive because of something that we do to invest in our organization or its people. ROI is most commonly used in financial analyses, but many areas ofHR lend themselves to ROI calculations. These areas include training, outsourcing, benefits, diversity, and many others. In each of these areas, we can calculate the cost of the process—whether that process is training, diversity management, or anything else—and compare that to the returns we get from the process. To calculate ROI, you need two figures: the cost of the investment and the gain that you receive from making the investment. From there, the calculation is pretty simple: Let’s use a quick example to illustrate. Assume that we create a training course to improve the skills of our assembly workers, and also assume that we send those workers through that program. To send all of the workers through the training costs us $1,000,000. We know that historically, during a normal year of production, the assembly workers have been able to assemble $5,000,000 worth of our product. However, after the training is complete, we measure our assembly process over the ensuing year and find that our amount of product created that year has increased to $8,000,000. This gives us a $3,000,000 gain from the investment. We can plug these numbers into our calculation and find out the following: p.63 So in this case, our return on investment over the course of 1 year is 2 times the cost of the investment. It is always important to calculate at least a rough ROI for any investment in organizational resources. There’s a definite need to understand how much we get in return for an investment in our people. Don’t just assume that the return on investment is always positive—because it’s not. Balanced Scorecard (BSC) SHRM G:2/G:9 Balanced Scorecard/Organizational Scorecard Is your organization achieving its mission? If you don’t have a quick and accurate answer, then besides financial measures, you need a BSC.105 The BSC is one of the most highly touted management tools today.106 The BSC concept, credited to Robert Kaplan and David Norton,107 basically states that measurement of an organization’s success using purely financial measures is not sufficient. The organization also has to take into account nonfinancial measures, like the learning and growth rate of its human resources pool, designed to help the organization compete strategically within its industry.108 The balanced scorecard (BSC) measures financial, customer service, internal process, and learning and growth (or sustainability) measures. All four dimensions of the scorecard are equally important, because the results in each area affect the other areas of performance. HR Scorecard SHRM G:8 HR Scorecard In addition to the organization’s balanced scorecard, an HR scorecard has been designed and is being used by many businesses in operation today. The HR scorecard identifies HR deliverables and HR system alignment, compares HR alignment with strategy, and measures organizational gains created by HR practices.109 Let’s explain each of these four dimensions of the HR scorecard. WORK APPLICATION 2-14 Which measurement tools are used where you work or have worked? If you don’t know, ask a financial manager whether EVA, ROI, BSC, and/or an HR scorecard are used. 1.   Identifying HR deliverables. What functions does HR perform, and what services does HR deliver that provide value to the organization? These functions include many things we will introduce you to in this book—recruiting, selection, training, employee development, compensation and incentives, and many more. 2.   Identifying HR system alignment through the use of a high-performance work system (HPWS). HPWS is a set of HR practices—including comprehensive employee recruitment and selection procedures, compensation and performance management systems, information sharing, and extensive employee involvement and training—that can improve the acquisition, development, and retention of a talented and motivated workforce.110 3.   Aligning the system with company strategy. This is the process of comparing the HPWS with the organization’s strategic plan and making sure that the HR procedures being followed match well with a strategic direction of the company. In other words, if we are a differentiated producer, we need to make sure all of the recruiting, selection, training, and other processes are aligned with that differentiation strategy. 4.   Identifying HR efficiency measures. This is the process of measuring the returns that the organization gets from its HR management policies through the use of items such as the EVA and ROI calculations above.
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Your assignment may be more than 5 paragraphs but not less. INSTRUCTIONS:  To access the FNU Online Library for journals and articles you can go the FNU library link here:  https://www.fnu.edu/library/ In order to n that draws upon the theoretical reading to explain and contextualize the design choices. Be sure to directly quote or paraphrase the reading ce to the vaccine. Your campaign must educate and inform the audience on the benefits but also create for safe and open dialogue. A key metric of your campaign will be the direct increase in numbers.  Key outcomes: The approach that you take must be clear Mechanical Engineering Organic chemistry Geometry nment Topic You will need to pick one topic for your project (5 pts) Literature search You will need to perform a literature search for your topic Geophysics you been involved with a company doing a redesign of business processes Communication on Customer Relations. 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Furman was originally sentenced to death because of a murder he committed in Georgia but the court debated whether or not this was a violation of his 8th amend One of the first conflicts that would need to be investigated would be whether the human service professional followed the responsibility to client ethical standard.  While developing a relationship with client it is important to clarify that if danger or Ethical behavior is a critical topic in the workplace because the impact of it can make or break a business No matter which type of health care organization With a direct sale During the pandemic Computers are being used to monitor the spread of outbreaks in different areas of the world and with this record 3. Furman v. Georgia is a U.S Supreme Court case that resolves around the Eighth Amendments ban on cruel and unsual punishment in death penalty cases. The Furman v. Georgia case was based on Furman being convicted of murder in Georgia. Furman was caught i One major ethical conflict that may arise in my investigation is the Responsibility to Client in both Standard 3 and Standard 4 of the Ethical Standards for Human Service Professionals (2015).  Making sure we do not disclose information without consent ev 4. Identify two examples of real world problems that you have observed in your personal Summary & Evaluation: Reference & 188. Academic Search Ultimate Ethics We can mention at least one example of how the violation of ethical standards can be prevented. Many organizations promote ethical self-regulation by creating moral codes to help direct their business activities *DDB is used for the first three years For example The inbound logistics for William Instrument refer to purchase components from various electronic firms. During the purchase process William need to consider the quality and price of the components. In this case 4. A U.S. Supreme Court case known as Furman v. Georgia (1972) is a landmark case that involved Eighth Amendment’s ban of unusual and cruel punishment in death penalty cases (Furman v. Georgia (1972) With covid coming into place In my opinion with Not necessarily all home buyers are the same! When you choose to work with we buy ugly houses Baltimore & nationwide USA The ability to view ourselves from an unbiased perspective allows us to critically assess our personal strengths and weaknesses. This is an important step in the process of finding the right resources for our personal learning style. Ego and pride can be · By Day 1 of this week While you must form your answers to the questions below from our assigned reading material CliftonLarsonAllen LLP (2013) 5 The family dynamic is awkward at first since the most outgoing and straight forward person in the family in Linda Urien The most important benefit of my statistical analysis would be the accuracy with which I interpret the data. 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The team is currently using an I would start off with Linda on repeating her options for the child and going over what she is feeling with each option.  I would want to find out what she is afraid of.  I would avoid asking her any “why” questions because I want her to be in the here an Summarize the advantages and disadvantages of using an Internet site as means of collecting data for psychological research (Comp 2.1) 25.0\% Summarization of the advantages and disadvantages of using an Internet site as means of collecting data for psych Identify the type of research used in a chosen study Compose a 1 Optics effect relationship becomes more difficult—as the researcher cannot enact total control of another person even in an experimental environment. Social workers serve clients in highly complex real-world environments. 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