HR Balance Score Card for Ducab-Free-Samples-Myassignmenthelp.com

Question: Discuss about the Human Resource Balance Scorecard Ducab. Answer: Introduction The performance of the human resource metrics in Ducab Limited is measured by use of the balance score card. The Ducab Manufacturers has an overall management objective to provide value to customers, internal processes, people and the shareholders as the financials. The scope of the balanced scorecard is to measure the achieved goals in human resource and the contribution to the overall manufacturing objectives(Recardo, 2017). Strategies are broken down to specific line managers so that everyone gets his part to play. The final result will be a breakthrough in performance through the human resource(Jakic, 2017). Objectives Measure Targets Initiatives Customers Value addition in our cable products, growth of existing markets, new markets, increased market segments The company has reported a tremendous increase of customers and clients which have necessitated expansion of the organization through the opening of new campuses and construction of more building infrastructure. To completely meet the demand and quality needs in the cable market, to enhance customer loyalty(Kathula, 2017).. Multiple innovations have been enhanced through the involvement of staff in solving problems that frequently arise. Young, enthusiastic employees are recruited to make 40% of the employees, the setting up of a technological infrastructure has been substantially undertaken to enhance efficiency (Jelnkov et al. 2016). Financials Shareholder value, Increase in diversification. The investments by the current shareholder and new shareholders have risen showing that the company is meeting their interests to attract more. The company has a target to always give back to the shareholder's dividends that are higher than the previous year's share of profits. The costs of HR are controlled at an optimum level by controlling of wastage, and rule-out of unnecessary costs such as ghost workers. Employment of qualified professionals to efficiently manage. Internal processes The increase in product capacity, increase customer satisfaction, enhance competitiveness, corporate social responsibility, and the efficacy of new products. Management costs have been reduced in the recent past, Efficiency has been improved by reduction of time that was being wasted through absenteeism. Ducab manufacturers aim to enhance the operational efficiency so as to reduce costs and increase productivity. The biometric system manages hours worked and reviews absenteeism. People Operational effectiveness, attainment or targets, enhance employee engagement, improve skills, knowledge, and performance, trust. Attrition levels are 90% showing that most of the employees have been empowered to create trust. The levels of specialized employees being attracted to the firm are also reported to be high. Update of skills and knowledge by the current training needs, achieving a full attrition rate. The is the creation of effective teams. Efficient communication. The collaboration of the management with the staff. There is personal understanding of the employees. There is effective management of conflicts between employees in Ducab limited. The Employment metrics in Ducab Manufacturers has been favorable and this has won it the employer of the year award. The company uses the following formula to calculate employee metrics: Cost per hire = (Total internal + external recruitment costs) / hires in a year (300000+250000)/ 80 = AED 6875 Absentee rate = workdays lost/ (average staff number* workdays available per employee) =18/ (1300* 276) = 0.00005 Turnover cost = Total direct costs Unpaid cost while a job is vacant 8,070,000 1,700,000 = 6,370,000 AED Turnover rate = total staff in a year/ the reduction in staff * 100% 5 / 1300* 100% = 0.38% Conclusion The goals of Ducab management in the provision of value to the best interests of the stakeholders; the customers, employees, and shareholders have been achieved through the value created in the processes within the company. Attainment of these objectives has been enabled through the involvement of each departmental goal(Kathula, 2017). The effectiveness of the scorecard consumes time for the companys HR and has played a significant role in accountability and attainment of the Ducabs objectives. References Jakic, M. (2017). HR BALANCED SCORECARD AND BUSINESS ETHICS HR BALANCE SCORECARD. human resource matrics, 114-119. Kathula, R. (2017). STRATEGIC HUMAN RESOURCE MANAGEMENT FOR COMPETITIVE ADVANTAGE. Millenial workforce, 93. Lucie Jelnkov, KoÃ… ¾en Marcela . (2016). Customer value as a tool for increasing company competitiveness. Journal of human resource, 86. Recardo, R. (2017). Incorporating Best Practices to Strengthen Your Human Resources Strategic Plan. Global Business and Organizational Excellence, 29-41.