Steps to Illustrate a Human Resource Scorecard with the Microsoft Excel Application
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Although, the Balanced Scorecard concept can be most clearly depicted through the BSC Designer, however the Microsoft Office Excel application can also be efficaciously used to represent the BSC values and metrics in accordance with the Human Resource process set up.
The Microsoft Office Excel Application is a popular spreadsheet application created and distributed by Microsoft for Microsoft Windows and Mac OX S consisting of varied set of tools like graphing tools, calculation features, pivot tables, and even a macro programming language called the VBA ( Visual Basic for Application).
The Excel application is extensively used in numerous business processes for accounting and database maintenance functions with the help of its grid of cells and numbered rows to organize data manipulations and also has the facility to display the data as line graphs and charts. The HR scorecard provides valuable insights into the working of the HR performance and since Human Resources is one of the most critical departments of an organization, the measuring and assessing of the HR metrics provides ample opportunities to improvise the functionality and working of the HR components. Now let us have a look at the methodology and steps involved in the creation of the HR scorecard in the Excel spreadsheet application with the help of easy to implement steps.
- The first step towards generating an HR scorecard is to launch the Excel application and start with dividing the cells in the four perspectives of a Balanced Scorecard that is the Financial perspective, Customer Perspective, Internal Perspective and the Learning and Growth Perspective, and place four indicators under each of the categories for measuring the performances.
- The next step is to divide the cells into various measurable performance elements like the Indicators, Weighted Values, Values, Maximum, Relative Performance and Absolute Performance and insert numeric values corresponding towards each indicator under the weight, value and maximum columns.
- Post the values have been inserted, the user needs to calculate the Relative Performance by dividing the Value element by the Max element =( Value/Max). The said step can be elaborated with the help of an example.
Value: 3
Max: 8
Relative Value: = (3/8) = 0.375
- Now, we need to calculate the Absolute Performance by multiplying the Weighted Value with the Relative Value =(Weighted Value*Relative Value). The said step can be elaborated with the help of an example:
Weighted Value: 2.5
Relative Value: 0.375
Absolute Performance: =(2.5*0.375) = 0.9375
- Further, the total performance needs to be figured out by calculating the total sum of all Values entered and taking out their average numeric value. The said process is to be executed for all the indicators falling under all the four perspectives.
Thus, we can see that its considerably simple to illustrate an HR scorecard with the BSC Designer along with the Microsoft Spreadsheet Application with the help of indicators and value additions and enables the user to effectively design the scorecard and represent the approaches used.
Example of an HR Scorecard using the BSC designer is provided below for reference
