A Study of Application of HR Score Card in a Particular Organization
Abstract
The essence of the competitive advantage has shifted from tangible assets to intangible ones. The focus is now on human capital and its effective alignment with the overall strategy of organizations. This is a new age for Human Resources. The entire system of measuring HR’s contribution to the organization’s success as well as the architecture of the HR system needs to change to reflect the demands of succeeding in the new economy. The HR scorecard is a measurement as well as an evaluation system for redefining the role of HR as a strategic partner. It is based on the Balanced Scorecard framework developed by Kaplan and Norton and is set to revolutionize the way business perceives HR. In this study, the researcher has made an attempt to design the HR scorecard for an auto component manufacturing industry in Coimbatore. In the process it develops an evaluation framework based on the HR scorecard methodology and creates a HR scorecard system to measure the performance of the private manufacturing unit.
Keywords
Commodity, Market, Entropy, Volatility, Trend