How Technology Can Help in Collection of Metrics for the HR Scorecard
The HR Scorecard Relies on Data
The HR Scorecard is a data and metrics-driven tool that relies heavily on the collection of such data and metrics. Thus, it can be said that the HR Scorecard thrives on data and metrics. While data can be collected manually which is a time-consuming procedure, it can also be collected with the astute use of technology.
For instance, if metrics related to hiring and retention of resources needs to be collected, technology can certainly help in this aspect by both speeding up the process as well as through more targeted and accurate collection of such metrics.
Indeed, using technology such as Big Data Analytics and Artificial Intelligence powered tools, the metrics can be made more granular meaning that there can be more targeted and relevant as well as accurate collection.
Technology can Make Data Collection More Efficient and Granular
The key point to note is that technology helps in targeted collection of metrics such as fine-grained data related to how many candidates were interviewed and which profiles were shortlisted as well as how much there was a match between such aspects and the eventual candidates selected.
For instance, using Big Data and AI, metrics can be made more fine or accurate wherein data related to recruitment and retention of the resources can be made more granular. Indeed, both Big Data and AI help the collection of data related to how well the profiles of the candidates interviewed and eventually hired match with each other.
This can help subsequent iterations of the recruitment process by ensuring that the gap between needs and fulfillment is narrowed.
Real World Examples
For instance, there can be a requirement for Project Managers who are also People Managers and for this, the HR Function might release better ads and more targeted ones wherein the information that has been collected earlier can be used to enhance the quality of the subsequent rounds of recruitment.
Indeed, technology helps the HR Function to continuously evolve and optimize wherein each round of the process helps in learning for the future and subsequent rounds.
Further, Big Data and AI can also help in reducing the time it takes to collect data and metrics.
For instance, using technology, the data collection process can be speeded up and indeed, made real the process need not have lags between the recruitment step and the data collection step.
Apart from this, data and metrics related to employee retention strategies can be collected wherein each part of the retention value chain such as hiring, on the job performance, the value derived from training and people empowerment, and the longevity of the employees in the organization can all be made more efficient.
To take an example, if ten employees were recruited for a particular position and then trained on value adding skills apart from being monitored for their performance, depending on how many of them were still with the organization, the data about each of these steps can be collected and measured in a more efficient manner.
Data is the New Oil and Technology Helps the Data Transformation into Information
In addition, technology can help in the HR Scorecard objectives of aligning the HR function with the organizational goals and strategies. For instance, data related to the bottom line imperatives of the organization can be matched with the data related to the HR Scorecard parameters and then, can be matched with each other thereby revealing how well these are aligned to each other.
Indeed, using Big Data and AI, such matching can be made more efficient by accurately reporting on the exact misses and hits between the organizational goals and the HR process outcomes.
In other words, using technology, not only can data be collected better but the use of such data can be made more efficient and productive.
Because the HR Scorecard is aimed at data-driven measures, it is indeed the case that technology that thrives on data can help the objectives and goals behind the same.
Further, in an age where Data is the New Oil or in other words, data is precious and valuable, technology can definitely help in ensuring that datasets that are rich on information are collected.
Apart from this, the transformation of data into usable information that is not only relevant but also more accurate can be made better using technology since any technology typically is about raw data collection as well as making it more usable and relevant.
Indeed, Big Data and AI can help in this transformation of data into information and knowledge by algorithmic driven matching of the datasets with the needed information by the organizational stakeholders.
Example of Siri
To take an example, iPhone and other Smartphone users are aware of the AI Driven Voice Assistants such as Siri that take commands from the users and retrieve and display relevant information.
In the same manner, technology can help the HR Executives and the Senior Leadership in organizations to have a Birds Eye View of the HR Scorecard by feeding in the requirements and then using the information retrieved to make better decisions about which aspects of the HR Scorecard have met the objectives and which aspects need improvement.
Lastly, Knowledge is Power, and as mentioned earlier, Data is the New Oil. As the HR Scorecard is all about how well the data and the metrics square up with the goals and objectives, technology can help decision-makers in making informed decisions about the organizational and the HR strategies.
|❮❮ Previous||Next ❯❯|
- Hiring & Firing of Workers: Perspectives
- What to do if You are Laid Off from Job
- Termination and Outplacement
Authorship/Referencing - About the Author(s)
The article is Written By Prachi Juneja and Reviewed By Management Study Guide Content Team. MSG Content Team comprises experienced Faculty Member, Professionals and Subject Matter Experts. We are a ISO 2001:2015 Certified Education Provider. To Know more, click on About Us. The use of this material is free for learning and education purpose. Please reference authorship of content used, including link(s) to ManagementStudyGuide.com and the content page url.
- H R Management - Introduction
- Importance of HRM
- Scope of HRM
- Various Processes in HRM
- What is Human Resource Planning ?
- The HRM Function
- Functions of a Human Resource Manager
- Staffing Role of the HR Manager
- Role of HRM in Leadership Development
- Role of HR in People Empowerment
- Talent Management and HRM
- Management of Contractors
- Performance Management as a HR Management Concept
- Successful Performance Management
- Hiring Strategies
- Social Media Profiles for Hiring Decisions
- Importance of Background Checks
- Retention Strategies
- Strategic HRM
- Global HRM
- Personnel Management vs HRM
- Managing Employee Performance
- Performance Appraisal Process
- Performance Appraisal Interview
- Managing Employee Relations
- Employee Rewards and Recognition
- Variable Pay
- Diversity in Organizations
- Managing Workforce Diversity
- Workplace Health and Safety
- Workplace Safety Programs
- OSHA Safety Manual
- HR Challenges
- Human Resource Audit
- Hiring in Shadow of Stagnating Growth
- The Challenges of Managing Attrition
- Employee Separation Process
- Tips for Pursuing a Career in HRM
- Role of HRM in Recessionary Times
- People Manager vs. Project Manager
- Use of Contract Staff & Temp Workers
- The Necessity of Drafting Proper and Foolproof Employment Contracts
- Importance of Vacation Planning
- Hiring & Firing of Workers: Perspectives
- What to do if You are Laid Off from Job
- Termination and Outplacement
- Emotional Intelligence for Professionals
- Assigning Key Responsibility Areas (KRAs) to Employees
- Role of HR in Performance Appraisals
- HR Policies and Procedures Manual and Employee Handbook
- Managing Downsizing in Organizations
- Managing Attrition in Organizations
- Rise of the Temp Jobs and the Freelance/Sharing Economy
- What is Blind Hiring and Its Implications for the HR Profession
- How Human Resource Managers should Manage Ethical Issues and Ensure Compliance ?
- Issues Related to Human Resource Management in the Hospitality Sector
- Human Resource Management in the Times of Emerging Digital Economy
- Human Resource Management in the Age of Acceleration
- How to Manage Star Performers and High Achievers
- Actualizing a High Trust Organization
- HRM Strategies for an Increasingly Complex, Uncertain, and Volatile World
- How Human Resource Managers can deal with Difficult Employees
- Why Human Resource Management Must Change for the Coming Robotics Revolution
- How Silicon Valley Firms are Implementing Innovative Human Resources Policies
- Effective HRM Strategies to Smoothen and Sweeten the Downsizing and the Layoff Process
- How HR (Human Resources) Function Can Save Time by Automating Routine Tasks
- How HR Managers Can Help Employees Avoid Burnout and Manage Stress
- Human Resource Management Strategies to Diversify the Workforce
- What is an HR Scorecard and How it Helps Contemporary Organizations?
- How Using the HR Scorecard Creates Long Term Value for Organizations
- How Technology Can Help in Collection of Metrics for the HR Scorecard
- HR Scorecard: Aligning People, Strategy, and Performance
- How Using the HR Scorecard Can Address Organizational Dysfunction
- Human Resource Management Best Practices in Contemporary Organizations
- Using HR Scorecard with Analytics to Actualize Next Generation Performance
- How the HR Scorecard Helps Actualize Cross Functional Excellence in Organizations
- How the HR Scorecard can Help Gig Economy Firms to Manage Freelancers Better
- How the HR Scorecard Helps Organizations to Actualize Change Management Initiatives
- How Innovative HR Policies boost Employee Productivity and Organizational Effectiveness
- Changing Recruitment Strategies of Corporates and Tips to Get Hired
- What is Social Mirror and How it Determines Individual Success in Career and Life
- What Do Hiring Managers Look for in Applicants when Making Hiring Decisions
- Why the Future of Work is Virtual, Gig Based, and Cognitive and its implications for HR
- Why HR Managers Must Enforce Data Security and Information Protection Policies
- Why Corporates Must Have Wellness Managers as well as HR Managers
- What is Employee Ghosting and How HR Managers and Organizations Can Deal with it
- The Increasing Popularity of Corporate Wellness Programs and What HR Can Do
- What Experienced HR Managers Watch Out For When Recruiting Candidates
- The Importance of Data Driven Analytics and HR Scorecard Dashboards for Corporates
- What Hiring Managers Look Out For During the Recruitment and Selection Process?
- The Growing Popularity of Flex Work and HR Strategies to Deal with It
- What the Case of Amazonís AI Powered Recruitment Tool Means for Other Corporates
- Pay Cuts vs. Lay-Offs
- Game Changers or Slave Drivers? Human Resource Managers in the Gig Economy Firms
- Preparing for the Workplace of Tomorrow: Some HRM Strategies for the Digital Age
- The Managerial Challenge: Using Early Warning Systems to Spot Signs of Trouble
- Top HR Trends for 2019: Technological Convergence and Smarter HR Management
- How Should HR Managers Deal With Occupational Hazards at the Workplace?
- How HR Managers Must Deal with Legal and Regulatory Challenges in Organizations
- How HR Managers Must Address the Pay Disparities and Pay Gaps in Organizations
- How HR Managers can Make the On-boarding Process more Pleasant and Effective
- Why HR Managers Must Treat the Exit Interviews as Feedback and Learning Experiences
- The Importance of Due Diligence in Human Resource Management Processes
- The HRM Challenge: Managing the Millennials Entering the Workforce
- The Future of Human Resource Management in an Agile Driven and Automated World
- The What, Why, and How of the Difficult Decision to Fire Employees in Organizations
- How Using Blockchain Can Transform the HR Function and Change the Way it Works
- Corporate Corruption and the HRM Function: Legal, Ethical, and Moral Perspectives
- How Predictive Analytics Helps HR Managers Make Better Hiring Decisions
- Skills that the HR Professionals Need to have to be Successful in the Present Times
- The HRM Challenge: Promoting Diversity and Inclusivity in Illiberal and Charged Times
- Role and the Importance of Human Resource Managers in Recessionary Times
- How Blockchain can Help Human Resource Managers in Efficient Management
- HR Professionals and the Law: The What, Why, and How of Awareness of Laws
- Is the European Model of HRM Better than the American Model? Some Perspectives
- The Staffing Challenge in MNCs: Expatriates or Locals in Overseas Locations
- The HRM Challenge: Managing Opinionated Employees in Polarized and Divisive Times
- Why Auditing of the HR Function is Necessary and Important in the Present Times
- The Role of the HR in How Corporates Can Win (and Lose) the Global Race for Talent
- The Changing Nature of Employment and Impact on Professionals and Societies
- Fixing Fraud and Biases in the Recruitment Process and Making it Fair and Transparent
- HRM Strategies in Non Profits and How Similar and Different are They from Corporates
- Organizational and HRM Strategies for Virtual Workplaces and Remote Workforces
- The Role of Feedback in Enhancing Employee Performance and Productivity
- The Role of Monetary and Non Monetary Incentives in Enhancing Employee Performance
- Will Hire and Fire at Will Labour Laws Work in the Indian Socio-Economic Context?
- How Insights from Behavioural Science Can Help Corporates in People Management
- What is Ghosting and How it Disrupts the Hiring Process and Ways to Tackle this Menace
- How Staffing Agencies Need Better Regulation in the Corporate Ecosystem
- How Corporates Have to Let Go of Legacy Employees in an Empathic, Yet, Firm Manner
- Designing an Effective Pay and Perks Package across the Organizational Hierarchy
- Why Do Some Excel in the Interviews, But, Fail on the Job and How HR Can Fix This?
- Why Technology Can Diminish the Role of HR Function, but, Not Eliminate It Altogether
- The Challenges of Recruiting and Onboarding Remote Employees in Virtual Workplaces
- The Importance of Values in Human Resource Management in the Post Pandemic World
- Why We Need Employee Friendly Laws and HR Policies in the Post Pandemic World
- What is Second Chance Hiring and Why It Matters in the Present Times of Distress?
- Pandemic and Lay off: Putting People over Business
- The Hype and Realities of Networking in an Interconnected World and Leveraging Them
- What is Blind Hiring and How it Promotes Diversity and Inclusivity Efforts in Corporates
- What is Great Resignation? What can be done to Address the Mass Attrition Trend
- Why are American Millennials Burning Out and Quitting Jobs in Record Numbers?
- As American Corporates Order Employees Back to Office, What Are the HR Challenges?
- What Is Quiet Quitting, Why It Matters, And How Is It Impacting American Corporates?
- As Tech Firms Layoff Thousands, Is the Party Over and What It Means For Indian IT
- After Quiet Quitting Comes Quiet Hiring! What It Is, And Why It Would Be Trending In 2023!
- Quiet Hiring vs. Traditional Hiring: A Comparative Analysis and What Works When and Why
- White Collar American Workers are burning out More Than Ever! Here are the Reasons Why!
- Who are Boomerang Employees?
- Why is Everyone Talking About Artificial Intelligence Suddenly and How it Matters to All of Us?
- Heres Why Businesses in the United States are Finding it Hard to Hire Workers
- HR Challenge: Both Ageism and Youngism are Forms of Discrimination at the Workplace!